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Sep 30, 2021
Cedar Realty Trust Inc Q3 2021 Earnings Report
Reported a net loss due to impairment charges, but saw an increase in same-property NOI and collected a high percentage of base rents.
Key Takeaways
Cedar Realty Trust reported a net loss attributable to common shareholders of $(83.2) million, or $(6.28) per diluted share, for Q3 2021. However, the company achieved a same-property NOI increase of 10.5% and collected 96.8% of base rents and monthly charges.
NAREIT-defined Funds from operations (FFO) of $0.62 per diluted share for the quarter
Operating FFO of $0.63 per diluted share for the quarter
Collected 96.8% of base rents and monthly charges for the quarter
Same-property net operating income (NOI) increased 10.5% for the quarter
Cedar Realty Trust Inc
Cedar Realty Trust Inc
Forward Guidance
Cedar Realty Trust is exploring strategic alternatives, including a potential sale or merger of the entire company, or the sale of its core grocery-anchored shopping center portfolio and mixed-use redevelopment projects.