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In a recent transaction, Franklin Michael Andrew, the CEO of Cedar Realty Trust , Inc. (NYSE:CDR), sold 752 shares of the company’s 7.25% Series B Cumulative Redeemable Preferred Stock. The shares were sold at a price of $17.75 each, amounting to a total transaction value of $13,348. Following this sale, Franklin holds 2,138 shares of the Series B stock. According to InvestingPro data, CDR’s market capitalization stands at $1.58 million, with the stock showing a significant decline of ~62% over the past year. The company maintains a FAIR financial health score of 1.76.
This transaction was part of a broader tender offer by Cedar Realty Trust, which was announced on February 21, 2025. The company had offered to purchase up to $19,500,000 worth of its preferred shares, including both Series B and Series C stock, with the Series B shares priced at $17.75 each. The tender offer for Series B shares concluded on April 4, 2025, and the company purchased a total of 592,372 Series B shares, including those sold by Franklin. For deeper insights into CDR’s financial position, including its strong current ratio of 5.89, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, CD Projekt reported its third-quarter 2023 earnings, revealing strong sales figures driven primarily by its hit game "Cyberpunk 2077" and its expansion, "Phantom Liberty." The company achieved group sales revenue of PLN 985 million, which is 80% of the previous year’s figure. Despite a slight decrease in net profit, CD Projekt increased its cash reserves to PLN 1,472 million. Meanwhile, "The Witcher 4" has entered full-scale production, with over 400 developers involved, marking a significant milestone for the company. CD Projekt also announced a new dividend policy, promising a minimum of 25% of net profit starting in 2025. The company is exploring new intellectual properties and expanding into animation projects, including a collaboration with Netflix (NASDAQ:NFLX). Additionally, CD Projekt’s strategic partnership with Scopely aims to develop a game set within one of its intellectual properties, although details remain undisclosed.
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