CEDAR REALTY TRUST, INC.

What Do They Do?

Leases retail space in grocery-anchored shopping centers to tenants serving surrounding communities, predominantly in the Northeast.

How Do They Make Money?

Tenants pay rent over their lease terms and reimburse property operating costs monthly; the company also receives fees when it lets a tenant end a lease early.

revenue

Segment	Share	Revenue	How money arrives
Rental revenues Recurring	96% FY2022: 96%		Recurring
Other revenues	4.1% FY2022: 3.9%

Who Are Their Customers?

Retail tenants lease space in the Company's grocery-anchored shopping centers, which serve essential day-to-day shopping needs in surrounding communities.

Do Revenues Turn Into Profits?

No. It lost $1.9M in FY2025.

Operating income, FY2025

27% of revenue

▼ −42% vs FY2024 ($13.6M, 39%)

Net income, FY2025

−6% of revenue

▼ Now a loss vs FY2024 ($4.5M, 13%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −12%; vs $7.5M in Q2 FY2025
Net income: ▲ Now profitable; vs −$133K in Q2 FY2025

Rental revenues share of revenue vs 96.6% in Q2 FY2025

Shrinking. Revenue fell 24% in 4 years, from $39.2M in FY2021 to $29.7M in FY2025, about 7% a year.

Revenue over time

Rental revenues Other revenues

$50M$25M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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