In its 10-Q filing for Q1 2026, Cedar Realty Trust reported a maintained portfolio of 12 grocery-anchored shopping centers concentrated in the Northeast with same-property NOI growth of 5.8% YoY, despite the reduction in aggregate rentable area from recent asset sales. The company continues to reduce preferred stock liabilities by repurchasing shares that trade below liquidation value, intending to enhance cash flow and offset the income lost from property dispositions. Leasing activity is focused on renewals with rate increases and selective new leases at above-market rents, supporting stable occupancy near 93%. While tenant credit risk and portfolio downsizing remain constraints, Cedar’s integrated operating structure under WHLR offers operational efficiency, with capital redeployment central to its growth strategy.