$CDRPB
CEDAR REALTY TRUST, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023019618 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $8.284M $8.923M $30.46M
YoY Change -2.58% -70.71% -9.2%
Cost Of Revenue $3.039M
YoY Change -76.44%
Gross Profit $5.239M
YoY Change -74.63%
Gross Profit Margin 17.2%
Selling, General & Admin $2.912M
YoY Change -35.72%
% of Gross Profit 55.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.100M $2.493M $8.263M
YoY Change -54.43% -69.83% -26.29%
% of Gross Profit 157.72%
Operating Expenses $7.400M $7.005M $5.413M
YoY Change -20.05% 29.41% -65.61%
Operating Profit $884.0K $1.918M -$174.0K
YoY Change -102.83% -1202.3% -103.54%
Interest Expense -$2.707M
YoY Change -42.53%
% of Operating Profit
Other Income/Expense, Net -$1.951M -$1.904M -$2.707M
YoY Change -37.67% -29.66%
Pretax Income -$6.813M
YoY Change -645.04%
Income Tax
% Of Pretax Income
Net Earnings -$1.067M $14.00K -$1.057M
YoY Change -97.49% -101.32% -195.05%
Net Earnings / Revenue -12.88% 0.16% -3.47%
Basic Earnings Per Share -$0.27 -$0.19 -$0.28
Diluted Earnings Per Share -$0.27 -$0.19 -$79.47K
COMMON SHARES
Basic Shares Outstanding 13.72M 13.72M 13.64M
Diluted Shares Outstanding 13.72M 13.72M 13.29M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.093M
YoY Change -32.48%
Cash & Equivalents $1.291M $1.654M $2.093M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $22.47M
Other Receivables $0.00
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $955.1M
YoY Change -13.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.809M
YoY Change
Other Assets $230.0K
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $227.2M $231.6M $1.022B
YoY Change -76.58% -77.34% -13.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $530.9M
YoY Change -15.49%
Other Long-Term Liabilities $7.518M
YoY Change -12.58%
Total Long-Term Liabilities $538.4M
YoY Change -15.45%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $538.4M
Total Liabilities $151.4M $152.1M $581.1M
YoY Change -73.45% -73.83% -16.27%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $823.0K $823.0K
YoY Change 1.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $75.77M $79.53M $441.0M
YoY Change
Total Liabilities & Shareholders Equity $227.2M $231.6M $1.022B
YoY Change -76.58% -77.34% -13.38%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.067M $14.00K -$1.057M
YoY Change -97.49% -101.32% -195.05%
Depreciation, Depletion And Amortization $3.100M $2.493M $8.263M
YoY Change -54.43% -69.83% -26.29%
Cash From Operating Activities $1.507M $8.705M
YoY Change -82.69% -8.77%
INVESTING ACTIVITIES
Capital Expenditures -$9.613M
YoY Change 38.32%
Acquisitions
YoY Change
Other Investing Activities -$155.0K
YoY Change -112.4%
Cash From Investing Activities -$475.0K -$9.768M
YoY Change -95.14% 71.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.688M 117.0K
YoY Change -2397.44% -105.0%
NET CHANGE
Cash From Operating Activities 1.507M 8.705M
Cash From Investing Activities -475.0K -9.768M
Cash From Financing Activities -2.688M 117.0K
Net Change In Cash -1.656M -946.0K
YoY Change 75.05% -163.02%
FREE CASH FLOW
Cash From Operating Activities $1.507M $8.705M
Capital Expenditures -$9.613M
Free Cash Flow $18.32M
YoY Change 11.07%

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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2323000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1654000
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2093000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
10153000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
230000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11807000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2323000
CY2023Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
19
CY2022Q3 cdr Cash Payments Per Share
CashPaymentsPerShare
9.48
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
19.52
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
1704000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
4660000
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
715000
CY2023Q1 cdr Buildings And Improvements Included In Accounts Payable And Accrued Liabilities
BuildingsAndImprovementsIncludedInAccountsPayableAndAccruedLiabilities
187000
CY2022Q1 cdr Buildings And Improvements Included In Accounts Payable And Accrued Liabilities
BuildingsAndImprovementsIncludedInAccountsPayableAndAccruedLiabilities
2692000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
21648000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Other Income
DisposalGroupIncludingDiscontinuedOperationOtherIncome
56000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
21704000
CY2022Q1 cdr Disposal Group Including Discontinued Operation Operating Maintenance And Management
DisposalGroupIncludingDiscontinuedOperationOperatingMaintenanceAndManagement
4850000
CY2022Q1 cdr Disposal Group Including Discontinued Operations Real Estate And Other Property Related Taxes
DisposalGroupIncludingDiscontinuedOperationsRealEstateAndOtherPropertyRelatedTaxes
3255000
CY2022Q1 cdr Disposal Group Including Discontinued Operation General And Administrative Expense Income
DisposalGroupIncludingDiscontinuedOperationGeneralAndAdministrativeExpenseIncome
60000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
5762000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
13927000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
7777000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
1529000
CY2022Q1 cdr Disposal Group Including Discontinued Operation Non Operating Income And Expenses
DisposalGroupIncludingDiscontinuedOperationNonOperatingIncomeAndExpenses
-1529000
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
6248000
CY2022Q1 cdr Impairment Reversal Charges Of Real Estate Discontinued Operations
ImpairmentReversalChargesOfRealEstateDiscontinuedOperations
-510000
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
5738000
CY2023Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
0.0
CY2022Q1 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
11500000
CY2023Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0.0
CY2022Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-7900000
CY2023Q1 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
132000000.0
CY2022Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
131800000
CY2023Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
131600000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
131500000
CY2023Q1 cdr Number Of Properties Collateralize By Secured Term Loans
NumberOfPropertiesCollateralizeBySecuredTermLoans
12
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
135000000
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3448000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P49Y
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.086
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
0.0
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.066
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
584000
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
42000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
542000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
0.0
CY2022Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
400000
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
14000
CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-6815000
CY2023Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2688000
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2688000
CY2022Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-42000
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
23000
CY2023Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2674000
CY2022Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-9484000
CY2022Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
-5716000
CY2023Q1 cdr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-2674000
CY2022Q1 cdr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-3768000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13718000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13718000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13285000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13285000
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.19
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.19
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.71
CY2022Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.71
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
0.43
CY2022Q1 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.43
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.28
CY2023Q1 cdr Weighted Average Number Of Operating Partnership Units Outstanding
WeightedAverageNumberOfOperatingPartnershipUnitsOutstanding
0
CY2022Q1 cdr Weighted Average Number Of Operating Partnership Units Outstanding
WeightedAverageNumberOfOperatingPartnershipUnitsOutstanding
81000

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