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Cedar Shopping Centers Makes a Move: Up 2.4%

Published on Fri, 08/23/2013 - 12:29
By Peter Chu

Cedar Shopping Centers (NYSE:CDR) is a company whose shares are active, trading 2.4% higher to $5.16. The Dow is trading fractionally higher to 14,989 and the S&P is currently up 0.2% to 1,661.

There is potential upside of 32.1% for shares of Cedar Shopping Centers based on a current price of $5.16 and an average consensus analyst price target of $6.81. The stock should find initial resistance at its 50-day moving average (MA) of $5.43 and further resistance at its 200-day MA of $5.61.

Cedar Shopping Centers share prices have moved between a 52-week high of $6.83 and a 52-week low of $4.60 and are now trading 12% above that low price at $5.16 per share. The 200-day and 50-day moving averages have moved 0.11% lower and 0.82% lower over the past week, respectively.

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.

By Peter Chu
pchu@fnno.com