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Stock Investors Bid Up Shares of Cedar Shopping Centers, Up 1.2%

Published on Wed, 09/25/2013 - 11:29
By Peter Chu

One of today's stocks on the move is Cedar Shopping Centers (NYSE:CDR), up 1.2% to $5.27. The Dow Jones Industrial Average is now trading fractionally lower to 15,335 and the S&P is trading fractionally lower to 1,696.

Potential upside of 24.9% exists for Cedar Shopping Centers, based on a current level of $5.27 and analysts' average consensus price target of $6.58. Cedar Shopping Centers shares should first meet resistance at the 50-day moving average (MA) of $5.28 and find additional resistance at the 200-day MA of $5.60.

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.

In the past 52 weeks, Cedar Shopping Centers share prices have been bracketed by a low of $4.60 and a high of $6.83 and are now at $5.27, 15% above that low price. The 200-day and 50-day moving averages have moved 0.07% lower and 0.53% lower over the past week, respectively.

By Peter Chu
pchu@fnno.com