Dallas, Texas 01/23/2014 (FINANCIALSTRENDS) – Cedar Shopping Centers, Inc.(NYSE:CDR) has now announced that it will launch $6million share secondary where 900k shares shall be offered. The company has since shown that there will be high movement of the stock after the announcement.
Cedar Shopping Centers, Inc.(NYSE:CDR) growth on the realty market has been slow and steady, with last deal coming in November of 2013. Back then, Cedar Realty Trust acquired Big Y Shopping Center in Bethel in Conneticut.
Cedar Shopping Centers, Inc.(NYSE:CDR) is known to operate on a joint venture basis as a business model.The company in the past three years has held over three projects which are in the 60% owned in a joint-venture model. These include the Upland Square, the Heritage Crossing as well as Crossroads II. The company offers comprehensive REITI services which will focus on the ownership as well as the operations of business spaces which are in the supermarket as well as the anchored shopping center market space. Cedar Shopping is known to manage as well as control over 70 properties it operates. At last count the company was found to hold nearly 9.6 million square feet of gorss leasable area.
Cedar Shopping Centers, Inc.(NYSE:CDR) is known to hold ownership and operational rights over 22 other properties. In this case the overall area is in the range of 3.7 million square feet of GLA. He last is through its tie-up with RioCan joint venture. Cedar Shopping Centers, Inc.(NYSE:CDR) currently holds nearly 20% of RioCan interests.
Cedar Shopping Centers, Inc.(NYSE:CDR) holds a market cap of $518.99million, along with volume of 497,,957. The PE for the company is 47.21 and the Dividend rate is 0.05.The yield is at 3.05. EPS is currently at 0.14. The intra-day trading range is between $6.54 and $6.63, while the 52 week trading low is at $4.75 and the 52 week trading high is $6.83. Cedar Realty Trust Inc opened at $6.57 and currently trades at $6.56.