Cedar Shopping Centers Raising Up To $1 Billion (CDR)

247wallst — Mon, 17 Nov 2008 16:42:37 +0000

Cedar Shopping Centers, Inc. (NYSE CDR) has filed to sell up to $1 billion in mixed securities via a public offering of securities. It can sell any combination of common stock, preferred stock, depositary shares, warrants, stock purchase contracts and units.

The proceeds from the sale of these securities will be used for generalcorporate purposes. This may include the repayment of existing debt,the development or acquisition of additional properties, and therenovation, expansion and improvement of its existing properties.

Cedar shares have been performing poorly along with other REITs this year. The company’scommon stock closed down over 4% today at $6.33, and its 52-weektrading range was $6.57 to $14.02. Its market cap is $277 million as of today’s close, although we would point out thatit does have listed public shares of preferred stock which trade onthe NYSE.

Jon C. Ogg
November 17, 2008

Posted in REIT, Secondary Offering Tagged: CDR

Stifel Nicolaus Slashes REIT Ratings

247wallst — Mon, 11 Jun 2007 07:38:51 +0000

The brokerage and research firm Stifel Nicolaus has decided that REITS are either at or are close to their inflection points. REITs have been very strong performers in light of many large mergers, although they have already taken a decent breather in the last two weeks or so as the pace of mergers in the group has quieted down.

Most of the analyst ratings out of Stifel Nicolaus today are a downgrade from “BUY” to “HOLD.” Here is a partial list of the liquid REIT stocks that saw downgrades today:

American Financial Realty Trust (AFR), Boston Properties (BXP), Brookfield Properties (BPO), BRT Realty Trust (BRT), Capital Trust (CT), Cedar Shopping Centers (CDR), Highwoods Properties (HIW), KIMCO Realty (KIM), Kite Realty (KRG), Newcastle Investment Corp. (NCT), Northstar Realty (NRF), ProLogis (PLD), Quadra Realty (QRR), Simon Properties (SPG), SL Green Realty (SLG), Washington REIT (WRE), Weingarten Realty (WRI).

Jon C. Ogg
Jun 11, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

24/7 Wall St. » CDR

Cedar Shopping Centers Raising Up To $1 Billion (CDR)

Stifel Nicolaus Slashes REIT Ratings