$CDRPB
CEDAR REALTY TRUST, INC.

2019 Q2 Form 10-Q Financial Statement

#000156459019027948 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $35.66M $36.93M $41.35M
YoY Change -13.76% -0.55% 15.83%
Cost Of Revenue $11.25M $12.54M $11.05M
YoY Change 1.81% 7.64% 6.45%
Gross Profit $24.41M $24.39M $30.30M
YoY Change -19.44% -4.32% 19.67%
Gross Profit Margin 68.45% 66.04% 73.28%
Selling, General & Admin $5.420M $4.170M $4.280M
YoY Change 26.64% -5.44% 0.94%
% of Gross Profit 22.2% 17.1% 14.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.35M $9.800M $10.55M
YoY Change -1.9% -1.41% 6.03%
% of Gross Profit 42.4% 40.18% 34.82%
Operating Expenses $27.01M $13.98M $25.87M
YoY Change 4.43% -2.58% 5.27%
Operating Profit -$2.603M $10.41M $15.48M
YoY Change -116.81% -6.55% 1113.4%
Interest Expense -$5.940M -$5.680M $5.546M
YoY Change -207.1% 2.16% -2.1%
% of Operating Profit -54.56% 35.82%
Other Income/Expense, Net -$5.546M
YoY Change -2.1%
Pretax Income $5.540M $4.740M $9.940M
YoY Change -44.27% -16.55% -326.42%
Income Tax
% Of Pretax Income
Net Earnings $5.544M $4.736M $9.777M
YoY Change -43.3% -16.62% -318.53%
Net Earnings / Revenue 15.55% 12.82% 23.64%
Basic Earnings Per Share $0.03 $0.08
Diluted Earnings Per Share $0.03 $342.7K $0.08
COMMON SHARES
Basic Shares Outstanding 86.26M 91.21M 88.01M
Diluted Shares Outstanding 86.26M 88.17M

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.100M $2.000M $1.600M
YoY Change 31.25% -45.95% -44.83%
Cash & Equivalents $2.081M $1.977M $1.625M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $21.50M $22.00M $17.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.151B $359.0K $1.167B
YoY Change -1.39% -8.65% -2.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $5.000M
YoY Change -100.0% 100.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.216B $1.223B $1.233B
YoY Change -1.33% -2.36% -0.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $623.7M $624.8M $628.4M
YoY Change -0.75% 7.71% 1.19%
Other Long-Term Liabilities $19.50M $13.20M $14.70M
YoY Change 32.65% -25.42% -22.63%
Total Long-Term Liabilities $643.2M $638.0M $643.1M
YoY Change 0.02% 6.72% 0.48%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $643.2M $638.0M $643.1M
Total Liabilities $682.9M $664.2M $666.7M
YoY Change 2.43% 6.73% -0.09%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $5.341M $5.426M $5.473M
YoY Change -2.41% -0.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.47M $16.57M $16.73M
YoY Change -1.55% -10.24%
Treasury Stock Shares $2.987M
Shareholders Equity $530.0M $555.4M $565.9M
YoY Change
Total Liabilities & Shareholders Equity $1.216B $1.223B $1.233B
YoY Change -1.32% -2.36% -0.72%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income $5.544M $4.736M $9.777M
YoY Change -43.3% -16.62% -318.53%
Depreciation, Depletion And Amortization $10.35M $9.800M $10.55M
YoY Change -1.9% -1.41% 6.03%
Cash From Operating Activities $19.22M $17.92M $20.50M
YoY Change -6.24% 14.14% 6.16%
INVESTING ACTIVITIES
Capital Expenditures -$15.49M -$8.460M -$7.740M
YoY Change 100.13% 0.24% 33.45%
Acquisitions
YoY Change
Other Investing Activities $8.740M $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$6.750M -$8.460M -$7.740M
YoY Change -12.79% 34.07% 33.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.42M -11.88M -13.03M
YoY Change -20.03% 71.18% 6.54%
NET CHANGE
Cash From Operating Activities 19.22M 17.92M 20.50M
Cash From Investing Activities -6.750M -8.460M -7.740M
Cash From Financing Activities -10.42M -11.88M -13.03M
Net Change In Cash 2.050M -2.420M -270.0K
YoY Change -859.26% -198.78% -121.09%
FREE CASH FLOW
Cash From Operating Activities $19.22M $17.92M $20.50M
Capital Expenditures -$15.49M -$8.460M -$7.740M
Free Cash Flow $34.71M $26.38M $28.24M
YoY Change 22.91% 9.28% 12.47%

Facts In Submission

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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2081000
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1625000
CY2018Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5030000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
3.34
CY2018Q4 cdr Stock Repurchase Program Number Of Additional Shares Authorized For Repurchased
StockRepurchaseProgramNumberOfAdditionalSharesAuthorizedForRepurchased
2823000
CY2018Q4 cdr Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Additional Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfAdditionalSharesPurchased
3.25
CY2019Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.050
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.994
cdr Right Of Use Assets And Related Lease Liabilities
RightOfUseAssetsAndRelatedLeaseLiabilities
14205000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14600000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
800000
us-gaap Operating Lease Cost
OperatingLeaseCost
1400000
us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
500000
CY2019Q2 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
45700000
CY2018Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
44400000
CY2019Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
46800000
CY2018Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
47300000
CY2019Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3153000
cdr Amount Of Accumulated Other Comprehensive Income To Be Reclassified Into Earnings
AmountOfAccumulatedOtherComprehensiveIncomeToBeReclassifiedIntoEarnings
300000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y2M12D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.056
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2018Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
827000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1095000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
956000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
955000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
956000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
30466000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
35255000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21050000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
14205000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000
CY2018Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
30000000
CY2019Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2050000
CY2018Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.050
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.100
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.100
CY2019Q2 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
26352000
CY2018Q2 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
26865000
us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
52753000
us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
54022000
CY2019Q2 cdr Expense Recoveries Related To Rental Revenue
ExpenseRecoveriesRelatedToRentalRevenue
7950000
CY2018Q2 cdr Expense Recoveries Related To Rental Revenue
ExpenseRecoveriesRelatedToRentalRevenue
7767000
cdr Expense Recoveries Related To Rental Revenue
ExpenseRecoveriesRelatedToRentalRevenue
17144000
cdr Expense Recoveries Related To Rental Revenue
ExpenseRecoveriesRelatedToRentalRevenue
17053000
CY2019Q2 us-gaap Percentage Rent
PercentageRent
265000
CY2018Q2 us-gaap Percentage Rent
PercentageRent
127000
us-gaap Percentage Rent
PercentageRent
447000
us-gaap Percentage Rent
PercentageRent
216000
CY2019Q2 cdr Straight Line Rents Related To Rental Revenue
StraightLineRentsRelatedToRentalRevenue
111000
CY2018Q2 cdr Straight Line Rents Related To Rental Revenue
StraightLineRentsRelatedToRentalRevenue
246000
cdr Straight Line Rents Related To Rental Revenue
StraightLineRentsRelatedToRentalRevenue
335000
cdr Straight Line Rents Related To Rental Revenue
StraightLineRentsRelatedToRentalRevenue
492000
CY2019Q2 cdr Amortization Of Intangible Lease Liabilities
AmortizationOfIntangibleLeaseLiabilities
631000
CY2018Q2 cdr Amortization Of Intangible Lease Liabilities
AmortizationOfIntangibleLeaseLiabilities
2213000
CY2019Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
35309000
CY2018Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
37218000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
71901000
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
74665000
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1140000
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
973000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2237000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2054000
CY2019Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
112000
CY2018Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
110000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
194000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
217000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1028000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
863000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2043000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1837000
CY2019Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
2800000
CY2018Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
3600000
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
2800000
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
3800000
CY2019Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
161000
CY2018Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
160000
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
268000
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
208000
CY2019Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
138000
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
294000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
282000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
412000
CY2019Q2 cdr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
2557000
CY2018Q2 cdr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
6795000
cdr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
2607000
cdr Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-16297000
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
155000
CY2019Q2 cdr Weighted Average Number Of Operating Partnership Units Outstanding
WeightedAverageNumberOfOperatingPartnershipUnitsOutstanding
553000
CY2018Q2 cdr Weighted Average Number Of Operating Partnership Units Outstanding
WeightedAverageNumberOfOperatingPartnershipUnitsOutstanding
347000
cdr Weighted Average Number Of Operating Partnership Units Outstanding
WeightedAverageNumberOfOperatingPartnershipUnitsOutstanding
553000
cdr Weighted Average Number Of Operating Partnership Units Outstanding
WeightedAverageNumberOfOperatingPartnershipUnitsOutstanding
347000

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