CEDAR REALTY TRUST, INC. CDR-PB
The Company is a REIT that focuses on owning and operating income producing retail properties with a primary focus on grocery-anchored shopping centers, predominantly located in the Northeast. At December 31, 2025, the Company owned a portfolio of 12 properties totaling 1.9 million square feet of gross leasable area ("GLA"). The portfolio was 92.4% leased and 92.4% occupied at December 31, 2025.
The Company, organized as a Maryland corporation in 1984, has elected to be taxed as a REIT under applicable provisions of the Internal Revenue Code of 1986, as amended (the "Code"). To qualify as a REIT under those provisions, the Company must have a preponderant percentage of its assets invested in, and income derived from, real estate and related sources. The Company is a commercial real estate investment company that owns income-producing retail properties with a primary focus on grocery-anchored centers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.7M | $34.5M | $34.6M | $34.3M | $39.2M | $45.9M | $144.1M | $152.0M | $146.0M | $151.1M |
| SG&A | $2.6M | $2.4M | $3.2M | $10.1M | $17.8M | $16.7M | $18.8M | $16.9M | $16.9M | $18.2M |
| Total operating expenses | $21.0M | $24.3M | $27.3M | $34.1M | $43.8M | $44.7M | $113.0M | $104.9M | $101.5M | $106.9M |
| Operating income | $8.0M | $13.6M | $10.0M | -$68.1M | -$21.8M | -$2.7M | $25.1M | $31.3M | $42.1M | $37.9M |
| Interest expense | $9.1M | $9.1M | $8.0M | $10.9M | $13.9M | $19.8M | $23.5M | $22.1M | $22.2M | $26.5M |
| Net income | -$1.9M | $4.5M | $2.0M | $44.0M | -$45.1M | -$1.1M | $1.1M | $3.9M | $19.1M | $8.9M |
| EPS, basic | 0.79 | 0.14 | -0.64 | 2.48 | -4.24 | -0.92 | — | — | — | — |
| EPS, diluted | 0.79 | 0.14 | -0.64 | 2.48 | -4.24 | -0.92 | -0.78 | -0.83 | -0.04 | -0.08 |
| Shares, diluted (wtd. avg.) | 13.7M | 13.7M | 13.7M | 13.4M | 13.2M | 13.1M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $5.2M | $23.1M | $6.5M | $3.9M | $3.0M | $1.6M | $2.7M | $2.0M | $3.7M | $2.9M |
| Property, plant and equipment | — | — | — | — | $50.0K | $85.0K | $200.0K | $359.0K | $393.0K | $431.0K |
| Total assets | $165.2M | $216.9M | $233.1M | $234.2M | $1.02B | $1.18B | $1.21B | $1.22B | $1.25B | $1.23B |
| Long-term debt | $140.0M | $143.0M | $140.5M | $131.5M | $527.0M | $624.3M | $630.6M | $624.8M | $580.1M | $607.7M |
| Total liabilities | $158.8M | $160.7M | $159.6M | $152.0M | $576.9M | $689.8M | $691.5M | $664.2M | $622.3M | $651.5M |
| Total equity | $6.4M | $56.2M | $73.5M | $82.2M | $440.0M | $487.5M | $514.1M | $558.7M | $630.1M | $582.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $8.0M | $9.5M | $8.2M | -$20.5M | $45.0M | $42.6M | $53.7M | $57.9M | $57.1M | $59.2M |
| Depreciation and amortisation | $7.7M | $8.7M | $10.9M | $19.4M | $11.1M | $15.2M | $41.8M | $36.1M | $36.5M | $37.1M |
| Stock-based compensation | — | — | $0 | $1.6M | $3.0M | $3.7M | $4.1M | $3.8M | $3.6M | $2.9M |
| Capital expenditure | $3.5M | $11.6M | $6.5M | $22.4M | — | — | — | — | — | — |
| Investing cash flow | $30.0M | $25.6M | -$3.7M | $676.8M | $71.5M | -$18.4M | -$22.3M | -$14.9M | -$45.5M | $48.8M |
| Financing cash flow | -$52.7M | -$20.3M | -$2.1M | -$646.1M | -$114.9M | -$25.3M | -$30.6M | -$48.2M | -$10.1M | -$109.9M |
| Dividends paid | — | — | $0 | $397.3M | $3.9M | $7.1M | $17.8M | $18.3M | $17.7M | $17.0M |
| Buybacks | — | — | — | — | — | — | $6.8M | $2.3M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000761648-26-000008.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $151.1M | $146.0M | $152.0M | $144.1M | $45.9M | $39.2M | $34.3M | $34.6M | $34.5M | $29.7M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $8.9M | $19.1M | $3.9M | $1.1M | -$1.1M | -$45.1M | $44.0M | $2.0M | $4.5M | -$1.9M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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