KeyBanc Upgrades Cedar Shopping Centers (CDR) to Hold

KeyBanc today upgraded Cedar Shopping Centers (NYSE: CDR) from Underweight to Hold. Analyst Todd M. Thomas noted an improved lease environmental.

"Our UNDERWEIGHT thesis was predominantly predicated on our view that CDR shares would underperform its shopping center REIT peers given the Company's high exposure to traditional grocery-anchored neighborhood centers . . . While we continue to favor larger retail centers today, it appears that operations within the supermarket industry have improved somewhat, and the risk of store closures has decreased since the start of the year more than we had previously expected," said Thomas.

For an analyst ratings summary and ratings history on Cedar Shopping Centers (NYSE: CDR) click here. For more ratings news on Cedar Shopping Centers click here.

Shares of Cedar Shopping Centers closed at $6.53 yesterday.

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