Cedar Shopping Centers Inc. (CDR)

Cedar Shopping Centers, Inc., real estate investment trust, engages in the ownership, operation, development and redevelopment of supermarket-anchored community shopping centers and drug store-anchored convenience centers in the United States. As of December 31, 2007, it owned 118 properties, aggregating approximately 12.0 million square feet of gross leasable area primarily in Pennsylvania, Massachusetts, Virginia, Ohio, Connecticut, New Jersey, Maryland, Michigan, and New York. Cedar Shopping has elected to be treated as a REIT for federal income tax purposes and would not be subject to federal income tax, if it distributes at least 90% of its REIT taxable income to its stockholders. The company was founded in 1984 and is based in Port Washington, New York.

For the nine months ended 30 September 2006, Cedar Shopping Centers Inc.'s revenues increased 70% to $92.2M. Net income applicable to Common increased 10% to $4.9M. Revenues reflect higher rental income generated by the acquisition of additional shopping and convenience centers and an increase in expense recoveries. Net income was partially offset by increased interest expense and higher amortization of deferred financing costs.