NYSE$CDR-PB
Cedar Realty Trust Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Reported a net loss and signed contracts to sell the company and its assets in a series of all-cash transactions.
Cedar Realty Trust reported a net loss attributable to common shareholders of $(1.47) per diluted share for Q4 2021. The company signed agreements to sell its assets in a series of all-cash transactions, including a portfolio of 33 grocery-anchored shopping centers for $840.0 million and the sale of the Company and its remaining assets for $291.3 million.
- NAREIT-defined Funds from operations (FFO) of $0.57 per diluted share for the quarter
- Operating FFO of $0.57 per diluted share for the quarter
- Collected 96.7% of base rents and monthly charges for the quarter
- Same-property net operating income (NOI) increased 2.8% for the quarter
Headline financials
Revenue & EPS history
Cedar Realty Trust Inc · Revenue · Quarterly
$31.2M
Revenue by segment
Cedar Realty Trust Inc · $30.8M total across 1 segment · Q4 2021
- Rental Revenues$30.8M—100.0%
Forward guidance
The company has entered into definitive agreements that will result in the sale of the Company and its assets in a series of related all-cash transactions.
Tailwinds
- Agreement to sell a portfolio of 33 grocery-anchored shopping centers for $840.0 million
- Agreement to sell the Revelry redevelopment project for $34.0 million
- Negotiating a contract for the sale of the Northeast Heights redevelopment project for $46.5 million
- Agreement to sell the Company and its remaining assets for $291.3 million
- Acquirer of the portfolio of 33 grocery-anchored shopping centers has agreed to backstop the two redevelopment transactions at the aggregate price of $80.5 million if they do not close before the closing of the shopping center portfolio transaction
Headwinds
- Economic, political and social impact of, and uncertainty relating to, the COVID-19 pandemic
- The ability and willingness of the Company’s tenants and other third parties to satisfy their obligations under their respective contractual arrangements with the Company
- The loss or bankruptcy of the Company’s tenants, particularly in light of the adverse impact to the financial health of many retailers that has occurred and continues to occur as a result of the COVID-19 pandemic
- Financing risks, such as the Company’s inability to obtain new financing or refinancing on favorable terms as the result of market volatility or instability
- Risks related to the market for retail space generally, including reductions in consumer spending, variability in retailer demand for leased space, adverse impact of e-commerce, ongoing consolidation in the retail sector and changes in economic conditions and consumer confidence
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2021
+0.1%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+3.1%
Avg return
30 days after
33%
12 / 36 earnings
Positive
+7.4%
Q3 2022
Best reaction
-5.8%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.9% | -13.0% | — | |
| Q2 2025 | +7.2% | +4.2% | +6.6% | |
| Q1 2025 | +0.0% | -2.3% | -9.3% | |
| Q4 2024 | +0.0% | +1.7% | +7.6% | |
| Q3 2024 | +1.5% | -1.0% | -1.7% | |
| Q2 2024 | +3.0% | +1.5% | +3.4% | |
| Q1 2024 | +0.0% | +1.3% | -2.7% | |
| Q4 2023 | -3.1% | -3.1% | -2.6% | |
| Q3 2023 | -0.9% | -6.2% | -1.6% | |
| Q2 2023 | -0.3% | -3.9% | -6.2% | |
| Q1 2023 | -0.1% | +1.3% | +6.7% | |
| Q4 2022 | -1.4% | -2.3% | -6.3% | |
| Q3 2022 | +7.4% | -11.1% | +23.6% | |
| Q3 2025 | -0.0% | +6.7% | +33.5% | |
| Q2 2022 | -0.5% | -2.4% | -0.5% | |
| Q1 2022 | +1.0% | +15.4% | +46.4% | |
| Q4 2021 | -0.1% | -9.9% | +22.9% | |
| Q3 2021 | -2.7% | -0.1% | -2.1% | |
| Q2 2021 | +5.1% | +0.6% | +0.2% | |
| Q1 2021 | +1.7% | +0.1% | -36.9% | |
| Q4 2020 | +0.9% | -0.6% | +1.1% | |
| Q3 2020 | -0.5% | +4.1% | -0.2% | |
| Q2 2020 | +0.6% | +0.8% | -2.7% | |
| Q1 2020 | -1.1% | +3.1% | +38.5% | |
| Q3 2019 | +0.5% | +0.6% | -0.6% | |
| Q2 2019 | -5.8% | -0.4% | +0.1% | |
| Q1 2019 | +2.5% | +0.4% | -2.2% | |
| Q3 2018 | -3.2% | +0.9% | -3.8% | |
| Q2 2018 | -1.5% | +0.8% | +0.1% | |
| Q1 2018 | -0.5% | +0.6% | +2.5% | |
| Q3 2017 | +2.3% | -0.0% | -1.4% | |
| Q2 2017 | -0.1% | -1.4% | -1.2% | |
| Q1 2017 | -1.6% | -0.9% | -1.3% | |
| Q3 2016 | -0.2% | -1.1% | -2.0% | |
| Q2 2016 | -0.3% | +2.4% | -1.1% | |
| Q1 2016 | -3.5% | — | — |
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