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Cedar Shopping Centers Down 2.6% Since Keybanc Downgraded One Week Ago (CDR)

Published on Thu, 01/17/2013 - 10:10
By Mallory Stone

Cedar Shopping Centers was downgraded from Hold to Underweight by Keybanc one week ago. The shares closed at $5.17, or 2.6% under the $5.31 price of one week ago.

Cedar Shopping Centers Inc. is a real estate investment trust. The Company has investments primarily in multi-tenant, supermarket-anchored shopping centers and drug store-anchored convenience centers.

Cedar Shopping Centers (NYSE:CDR) has potential upside of 4.0% based on a current price of $5.17 and analysts' consensus price target of $5.38. Cedar Shopping Centers shares should first meet resistance at the 200-day moving average (MA) of $5.18 and find additional resistance at the 50-day MA of $5.23.

In the past 52 weeks, shares of Cedar Shopping Centers have traded between a low of $4.53 and a high of $5.80 and are now at $5.17, which is 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

By Mallory Stone