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Franklin Michael Andrew, the CEO of Cedar Realty Trust , Inc. (NYSE:CDR), has recently sold 195 shares of the company’s 6.50% Series C Cumulative Redeemable Preferred Stock. The shares were sold at a price of $16.25 each, amounting to a total transaction value of $3,168. According to InvestingPro data, the company currently has a market capitalization of $1.77 million and shows a weak financial health score of 1.7 out of 5. This sale was part of a larger tender offer by Cedar Realty Trust, which aimed to repurchase up to $9.5 million worth of its preferred stock.
Following this transaction, Andrew retains ownership of 855 shares of the Series C Preferred Stock. Additionally, he holds 2,890 shares of the 7.25% Series B Cumulative Redeemable Preferred Stock, maintaining direct ownership of these securities.
The tender offer, which concluded on March 21, 2025, allowed Cedar Realty Trust to purchase a significant number of its preferred shares, reflecting the company’s strategic move to manage its capital structure effectively. The company maintains a healthy current ratio of 5.89, indicating strong short-term liquidity despite challenging market conditions.
In other recent news, CD Projekt has reported its third-quarter 2023 earnings, revealing group sales revenue of PLN 985 million, primarily driven by the success of "Cyberpunk 2077" and its expansion, "Phantom Liberty." Despite a slight decrease in net profit compared to the previous year, the company has increased its cash reserves to PLN 1,472 million. The company continues to expand its development capabilities, with "The Witcher 4" in full-scale production involving over 400 developers. Additionally, CD Projekt has announced a new dividend policy, promising a minimum of 25% of net profit starting in 2025. The company is also exploring new intellectual properties and expanding into animation projects with Netflix (NASDAQ:NFLX). In terms of future projects, CD Projekt is working on "The Witcher" remake and a new project, Hadar, while also planning to bring "Cyberpunk 2077" to the macOS platform. These developments indicate CD Projekt’s strategic focus on expanding its franchises and exploring new markets.
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