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Strong Buy (4.00 out of 4)
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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Friday, March 29, 3:35 AM

Slide #244. Cedar Realty Trust, Inc. Preferred Stock Offering

Company: Cedar Realty Trust, Inc. (CDR)
Date announced: 8/16/2017
Shares Offered: 3,000,000
Date of Pricing: 8/16/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Cedar Realty Trust, Inc. (NYSE: CDR) (the "Company") today announced that it has commenced an offering to sell shares of Series C Cumulative Redeemable Preferred Stock in an underwritten public offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of Series C Cumulative Redeemable Preferred Stock initially sold to the public. -updated 8/16- Cedar Realty Trust, Inc. (NYSE: CDR) (the "Company") announced it has priced an underwritten public offering of 3,000,000 shares of its 6.50% Series C Cumulative Redeemable Preferred Stock ("Series C Preferred Stock") at $25.00 per share. Gross proceeds to the Company will be approximately $75,000,000. Closing of the offering is scheduled for August 24, 2017, subject to customary closing conditions. As part of the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 450,000 shares.

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. 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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Name:  Cedar Realty Trust Inc
Website:  www.cedarrealtytrust.com
Sector:  REITs
 

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