FBR Capital Reiterates an 'Outperform' on Cedar Shopping Centers (CDR); 17.5% Discount to NAV
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Price: $29.00 --0%
Rating Summary:
3 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital reiterates an 'Outperform' on Cedar Shopping Centers (NYSE: CDR), lowers PT to $6.25.
FBR analyst says, "While it has not been rewarding for the investor, we believe patience will likely be rewarded in the second half of 2011. We remain confident that Cedar is taking the right strategic moves, despite near-term dilution from property sales and repositioning activity, which we believe are remnants of the "old Cedar era." We believe management should continue to focus on continued near-term delevering and longer term value creation, primarily due to RioCan Board presence as well as continued strong investor feedback on recent share underperformance. We believe our current and unchanged 0% applied premium to our NAV of $6.25 is warranted, as fundamental growth in Cedar's second-tier markets will be modest at best."
For more ratings news on Cedar Shopping Centers click here and for the rating history of Cedar Shopping Centers click here.
Shares of Cedar Shopping Centers closed at $5.15 yesterday.
FBR analyst says, "While it has not been rewarding for the investor, we believe patience will likely be rewarded in the second half of 2011. We remain confident that Cedar is taking the right strategic moves, despite near-term dilution from property sales and repositioning activity, which we believe are remnants of the "old Cedar era." We believe management should continue to focus on continued near-term delevering and longer term value creation, primarily due to RioCan Board presence as well as continued strong investor feedback on recent share underperformance. We believe our current and unchanged 0% applied premium to our NAV of $6.25 is warranted, as fundamental growth in Cedar's second-tier markets will be modest at best."
For more ratings news on Cedar Shopping Centers click here and for the rating history of Cedar Shopping Centers click here.
Shares of Cedar Shopping Centers closed at $5.15 yesterday.
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