Cedar Realty calls 3 million of remaining 7.25% series B preferreds

By Wendy Van Sickle

Columbus, Ohio, Aug. 16 – Cedar Realty Trust, Inc. will redeem 3 million shares, or 47%, of it 7.25% series B cumulative redeemable preferred stock.

The preferreds will be redeemed at a price of $25.00 per share plus accrued dividends up to but excluding the redemption date of Sept. 15 for a total of $25.17118 per share, according to a company announcement.

After the redemption date, dividends on the preferreds will cease to accrue and the redeemed shares will no longer be outstanding, the company said.

Cedar Realty Trust is a Port Washington, N.Y.-based real estate investment trust that focuses primarily on the ownership and operation of supermarket-anchored shopping centers straddling the Washington, D.C., to Boston corridor.

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