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Cedar Shopping Centers Shares Climbing Higher, Up 1.6%

Published on Mon, 12/31/2012 - 11:24
By Mallory Stone

Cedar Shopping Centers (NYSE:CDR) is one of today's biggest movers, up 1.6% to $5.24. The S&P is trading higher by 0.2% to 1,405 and the Dow is trading fractionally lower to 12,925.

Cedar Shopping Centers share prices have moved between a 52-week high of $5.80 and a 52-week low of $4.35 and are now trading 20% above that low price at $5.24 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.5%.

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 9.7% based on a current price of $5.24 and analysts' consensus price target of $5.75. Cedar Shopping Centers shares should encounter resistance at the 50-day moving average (MA) of $5.26 and support at its 200-day MA of $5.16.

By Mallory Stone
mstone@fnno.com