Quarterly ResultMay 8, 2026, 04:14 PM
Cedar Realty Q1 Net Income Attributable to Common Shareholders $86K
AI Summary
Cedar Realty Trust, Inc. reported a significant decline in financial performance for the first quarter ended March 31, 2026, with net income attributable to common shareholders dropping to $86,000 from $9.83 million in the prior year. The company recorded a net loss of $(291,000) compared to a net income of $1.45 million in Q1 2025. Total revenues also decreased, while operating income saw a substantial reduction. Additionally, the company announced a term sheet to resolve the Aquino Action litigation and received preferred stock contributions from WHLR.
Key Highlights
- Net income attributable to common shareholders decreased to $86,000 from $9.83 million YoY.
- The company reported a net loss of $(291,000) for Q1 2026, compared to net income of $1.45 million in Q1 2025.
- Total revenues declined to $6.87 million in Q1 2026 from $7.42 million in Q1 2025.
- Operating income fell to $1.91 million in Q1 2026 from $4.15 million in Q1 2025.
- Preferred stock dividends paid were $(1.23) million in Q1 2026, down from $(1.86) million YoY.
- Received $1.60 million in deemed contributions on preferred stock from WHLR in Q1 2026.
- A term sheet was entered into on May 5, 2026, to resolve the Aquino Action litigation.
- Cash and cash equivalents increased to $5.60 million as of March 31, 2026, from $5.15 million at year-end 2025.