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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, May 21, 8:46 AM
| This Slide: #177 of 581 |
Slide #177. Cedar Realty Trust, Inc. — Preferred Stock Offering
Company:
Cedar Realty Trust, Inc. (NYSE:CDR)
Date announced:
12/13/2017
Shares Offered:
2,000,000
Date of Pricing:
12/13/2017
Price Per Share:
$25.00
Preferred Stock Offering Details:
Cedar Realty Trust, Inc. (NYSE: CDR) (the "Company") announced it has priced an underwritten public offering of 2,000,000 shares of its 6.50% Series C Cumulative Redeemable Preferred Stock ("Series C Preferred Stock") at $25.00 per share. The shares of Series C Preferred Stock sold in the offering are a further issuance of the Series C Preferred Stock issued by the Company on August 24, 2017. Gross proceeds to the Company will be approximately $50,000,000. Closing of the offering is scheduled for December 15, 2017, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of Series C Preferred Stock.
Cedar Realty Trust is a real estate investment trust that focuses primarily on ownership, operation and redevelopment of grocery-anchored shopping centers in urban markets from Washington, D.C. to Boston. Co. owns and manages a portfolio of operating properties in Pennsylvania, Connecticut, Massachusetts, Maryland / Washington, D.C., Virginia, New Jersey, New York, and Delaware. Cedar Realty Trust Partnership, L.P. (the Operating Partnership) is the entity through which Co. conducts substantially all of its business and owns (either directly or through subsidiaries) substantially all of its assets. Co. is the sole general partner of, the Operating Partnership.
Preferreds: CDR.PRA, CDR.PRB, CDR.PRC
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 25th percentile
(ranked lower than approx. 75% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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