Cedar Realty Trust (CDR-PC) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Document And Entity Information [Abstract]
Document type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019
Trading Symbol	CDR
Entity Registrant Name	CEDAR REALTY TRUST, INC.
Entity Central Index Key	0000761648
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		89,022,042
Entity File Number	001-31817
Entity Tax Identification Number	421241468
Entity Address, Address Line One	44 South Bayles Avenue
Entity Address, City or Town	Port Washington
Entity Address, State or Province	New York
Entity Address, Postal Zip Code	11050-3765
City Area Code	516
Local Phone Number	767-6492

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Land	$ 296,554,000	$ 295,734,000
Buildings and improvements	1,222,918,000	1,212,948,000
Real estate, gross	1,519,472,000	1,508,682,000
Less accumulated depreciation	(375,708,000)	(361,969,000)
Real estate, net	1,143,764,000	1,146,713,000
Real estate held for sale	7,244,000	11,592,000
Cash and cash equivalents	2,081,000	1,977,000
Receivables	21,535,000	21,977,000
Other assets and deferred charges, net	41,705,000	40,642,000
TOTAL ASSETS	1,216,329,000	1,222,901,000
LIABILITIES AND EQUITY
Mortgage loan payable	46,848,000	47,315,000
Capital lease obligation	5,375,000	5,387,000
Unsecured revolving credit facility	99,000,000	100,000,000
Unsecured term loans	472,486,000	472,132,000
Accounts payable and accrued liabilities	47,031,000	26,142,000
Unamortized intangible lease liabilities	12,182,000	13,209,000
Total liabilities	682,922,000	664,185,000
Commitments and contingencies
Equity:
Preferred stock	159,541,000	159,541,000
Common stock ($.06 par value, 150,000,000 shares authorized, 89,025,000 and 90,436,000 shares, issued and outstanding, respectively)	5,341,000	5,426,000
Treasury stock (3,085,000 and 2,971,000 shares, respectively, at cost)	(16,470,000)	(16,572,000)
Additional paid-in capital	870,582,000	875,565,000
Cumulative distributions in excess of net income	(482,258,000)	(475,726,000)
Accumulated other comprehensive (loss) income	(6,761,000)	7,191,000
Total Cedar Realty Trust, Inc. shareholders' equity	529,975,000	555,425,000
Noncontrolling interests:
Minority interests in consolidated joint ventures	137,000	(112,000)
Limited partners' OP Units	3,295,000	3,403,000
Total noncontrolling interests	3,432,000	3,291,000
Total equity	533,407,000	558,716,000
TOTAL LIABILITIES AND EQUITY	$ 1,216,329,000	$ 1,222,901,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, shares par value	$ 0.06	$ 0.06
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	89,025,000	90,436,000
Common stock, shares outstanding	89,025,000	90,436,000
Treasury stock, shares	3,085,000	2,971,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES
Total revenues	$ 35,660,000	$ 41,350,000	$ 72,543,000	$ 78,918,000
EXPENSES
Operating, maintenance and management	6,162,000	5,994,000	14,129,000	13,788,000
Real estate and other property-related taxes	5,087,000	5,056,000	10,297,000	10,135,000
General and administrative	5,418,000	4,276,000	10,216,000	8,770,000
Depreciation and amortization	10,346,000	10,541,000	20,475,000	20,595,000
Total expenses	27,013,000	25,867,000	55,117,000	53,288,000
OTHER
Gain on sales	2,841,000		2,942,000
Impairment charges				(21,396,000)
Total other	2,841,000		2,942,000	(21,396,000)
OPERATING INCOME	11,488,000	15,483,000	20,368,000	4,234,000
NON-OPERATING INCOME AND EXPENSES
Interest expense	(5,944,000)	(5,546,000)	(11,835,000)	(10,917,000)
Total non-operating income and expenses	(5,944,000)	(5,546,000)	(11,835,000)	(10,917,000)
NET INCOME (LOSS)	5,544,000	9,937,000	8,533,000	(6,683,000)
Net (income) loss attributable to noncontrolling interests:
Minority interests in consolidated joint ventures	(144,000)	(133,000)	(249,000)	(268,000)
Limited partners' interest in Operating Partnership	(17,000)	(27,000)	(19,000)	60,000
Total net (income) attributable to noncontrolling interests	161,000	160,000	268,000	208,000
NET INCOME (LOSS) ATTRIBUTABLE TO CEDAR REALTY TRUST, INC.	5,383,000	9,777,000	8,265,000	(6,891,000)
Preferred stock dividends	(2,688,000)	(2,688,000)	(5,376,000)	(5,487,000)
Preferred stock redemption costs				(3,507,000)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 2,695,000	$ 7,089,000	$ 2,889,000	$ (15,885,000)
NET INCOME (LOSS) PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS:
Basic	$ 0.03	$ 0.08	$ 0.03	$ (0.19)
Diluted	$ 0.03	$ 0.08	$ 0.03	$ (0.19)
Weighted average number of common shares:
Basic	86,260,000	88,011,000	86,420,000	87,817,000
Diluted	86,260,000	88,166,000	86,420,000	87,817,000
Rental Revenues [Member]
REVENUES
Total revenues	$ 35,309,000	$ 37,218,000	$ 71,901,000	$ 74,665,000
Other [Member]
REVENUES
Total revenues	$ 351,000	$ 4,132,000	$ 642,000	$ 4,253,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 5,544,000	$ 9,937,000	$ 8,533,000	$ (6,683,000)
Other comprehensive income - unrealized (loss) gain on change in fair value of cash flow hedges	(8,596,000)	1,937,000	(14,038,000)	7,827,000
Comprehensive (loss) income	(3,052,000)	11,874,000	(5,505,000)	1,144,000
Comprehensive (income) attributable to noncontrolling interests	(108,000)	(167,000)	(182,000)	(237,000)
Comprehensive (loss) income attributable to Cedar Realty Trust, Inc.	$ (3,160,000)	$ 11,707,000	$ (5,687,000)	$ 907,000

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($)	Total	Limited Partners' Interest In Operating Partnership [Member]	Restated [Member]	Restated [Member]Limited Partners' Interest In Operating Partnership [Member]	Preferred Stock [Member]	Preferred Stock [Member]Restated [Member]	Common Stock [Member]	Common Stock [Member]Restated [Member]	Treasury Stock, At Cost [Member]	Treasury Stock, At Cost [Member]Restated [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member]Restated [Member]	Cumulative Distributions In Excess Of Net Income [Member]	Cumulative Distributions In Excess Of Net Income [Member]Restated [Member]	Accumulated Other Comprehensive Income [Member]	Accumulated Other Comprehensive Income [Member]Restated [Member]	Cedar Realty Trust, Inc. [Member]	Cedar Realty Trust, Inc. [Member]Restated [Member]	Minority Interests In Consolidated Joint Ventures [Member]	Minority Interests In Consolidated Joint Ventures [Member]Restated [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member]Restated [Member]
Balance at Dec. 31, 2017	$ 630,111,000	$ 2,384,000			$ 207,508,000		$ 5,479,000		$ (18,463,000)		$ 875,062,000		$ (446,944,000)		$ 5,694,000		$ 628,336,000		$ (609,000)		$ 1,775,000
Balance, shares at Dec. 31, 2017					8,450,000		91,317,000
Net (loss) income	(16,620,000)	(87,000)											(16,668,000)				(16,668,000)		135,000		48,000
Unrealized gain (loss) on change in fair value of cash flow hedges	5,890,000	22,000													5,868,000		5,868,000				22,000
Share-based compensation, net	251,000						$ 24,000		5,000		222,000						251,000
Share-based compensation, net, shares							393,000
Redemptions of Series B Shares	(50,016,000)				$ (47,967,000)						1,458,000		(3,507,000)				(50,016,000)
Redemptions of Series B Shares, Shares					(2,000,000)
Common stock sales, net of issuance expenses	1,000										1,000						1,000
Preferred stock dividends	(2,799,000)												(2,799,000)				(2,799,000)
Distributions to common shareholders/noncontrolling interests	(4,612,000)	(17,000)											(4,595,000)				(4,595,000)				(17,000)
Reallocation adjustment of limited partners' interest		(184,000)									184,000						184,000				(184,000)
Balance at Mar. 31, 2018	562,206,000	2,118,000			$ 159,541,000		$ 5,503,000		(18,458,000)		876,927,000		(474,513,000)		11,562,000		560,562,000		(474,000)		1,644,000
Balance, shares at Mar. 31, 2018					6,450,000		91,710,000
Balance at Dec. 31, 2017	630,111,000	2,384,000			$ 207,508,000		$ 5,479,000		(18,463,000)		875,062,000		(446,944,000)		5,694,000		628,336,000		(609,000)		1,775,000
Balance, shares at Dec. 31, 2017					8,450,000		91,317,000
Unrealized gain (loss) on change in fair value of cash flow hedges	7,827,000
Balance at Jun. 30, 2018	567,756,000	2,150,000			$ 159,541,000		$ 5,473,000		(16,729,000)		876,179,000		(472,009,000)		13,492,000		565,947,000		(341,000)		1,809,000
Balance, shares at Jun. 30, 2018					6,450,000		91,215,000
Balance at Dec. 31, 2017	630,111,000	2,384,000			$ 207,508,000		$ 5,479,000		(18,463,000)		875,062,000		(446,944,000)		5,694,000		628,336,000		(609,000)		1,775,000
Balance, shares at Dec. 31, 2017					8,450,000		91,317,000
Prior period adjustment - adoption of lease accounting standard | Accounting Standards Update 2016-02 [Member]	(515,000)												(515,000)				(515,000)
Balance at Dec. 31, 2018	558,716,000	3,403,000	$ 558,201,000	$ 3,403,000	$ 159,541,000	$ 159,541,000	$ 5,426,000	$ 5,426,000	(16,572,000)	$ (16,572,000)	875,565,000	$ 875,565,000	(475,726,000)	$ (476,241,000)	7,191,000	$ 7,191,000	555,425,000	$ 554,910,000	(112,000)	$ (112,000)	3,291,000	$ 3,291,000
Balance, shares at Dec. 31, 2018					6,450,000	6,450,000	90,436,000	90,436,000
Balance at Mar. 31, 2018	562,206,000	2,118,000			$ 159,541,000		$ 5,503,000		(18,458,000)		876,927,000		(474,513,000)		11,562,000		560,562,000		(474,000)		1,644,000
Balance, shares at Mar. 31, 2018					6,450,000		91,710,000
Net (loss) income	9,937,000	27,000											9,777,000				9,777,000		133,000		160,000
Unrealized gain (loss) on change in fair value of cash flow hedges	1,937,000	7,000													1,930,000		1,930,000				7,000
Share-based compensation, net	962,000						$ (30,000)		1,729,000		(737,000)						962,000
Share-based compensation, net, shares							(496,000)
Common stock sales, net of issuance expenses	4,000										4,000						4,000
Common stock sales, net of issuance expenses, shares							1,000
Preferred stock dividends	(2,688,000)												(2,688,000)				(2,688,000)
Distributions to common shareholders/noncontrolling interests	(4,602,000)	(17,000)											(4,585,000)				(4,585,000)				(17,000)
Reallocation adjustment of limited partners' interest		15,000									(15,000)						(15,000)				15,000
Balance at Jun. 30, 2018	567,756,000	2,150,000			$ 159,541,000		$ 5,473,000		(16,729,000)		876,179,000		(472,009,000)		13,492,000		565,947,000		(341,000)		1,809,000
Balance, shares at Jun. 30, 2018					6,450,000		91,215,000
Balance at Dec. 31, 2018	558,716,000	3,403,000	558,201,000	3,403,000	$ 159,541,000	$ 159,541,000	$ 5,426,000	$ 5,426,000	(16,572,000)	(16,572,000)	875,565,000	875,565,000	(475,726,000)	(476,241,000)	7,191,000	7,191,000	555,425,000	554,910,000	(112,000)	(112,000)	3,291,000	3,291,000
Balance, shares at Dec. 31, 2018					6,450,000	6,450,000	90,436,000	90,436,000
Net (loss) income	2,989,000	2,000											2,882,000				2,882,000		105,000		107,000
Unrealized gain (loss) on change in fair value of cash flow hedges	(5,442,000)	(33,000)													(5,409,000)		(5,409,000)				(33,000)
Share-based compensation, net	753,000						$ 39,000		22,000		692,000						753,000
Share-based compensation, net, shares							650,000
Common stock sales, net of issuance expenses	5,000										5,000						5,000
Common stock sales, net of issuance expenses, shares							1,000
Common stock repurchases	(6,844,000)						$ (123,000)				(6,721,000)						(6,844,000)
Common stock repurchases. Shares							(2,050,000)
Preferred stock dividends	(2,688,000)												(2,688,000)				(2,688,000)
Distributions to common shareholders/noncontrolling interests	(4,483,000)	(28,000)											(4,455,000)				(4,455,000)				(28,000)
Reallocation adjustment of limited partners' interest		12,000									(12,000)						(12,000)				12,000
Balance at Mar. 31, 2019	542,491,000	3,356,000			$ 159,541,000		$ 5,342,000		(16,550,000)		869,529,000		(480,502,000)		1,782,000		539,142,000		(7,000)		3,349,000
Balance, shares at Mar. 31, 2019					6,450,000		89,037,000
Balance at Dec. 31, 2018	558,716,000	3,403,000	$ 558,201,000	$ 3,403,000	$ 159,541,000	$ 159,541,000	$ 5,426,000	$ 5,426,000	(16,572,000)	$ (16,572,000)	875,565,000	$ 875,565,000	(475,726,000)	$ (476,241,000)	7,191,000	$ 7,191,000	555,425,000	$ 554,910,000	(112,000)	$ (112,000)	3,291,000	$ 3,291,000
Balance, shares at Dec. 31, 2018					6,450,000	6,450,000	90,436,000	90,436,000
Unrealized gain (loss) on change in fair value of cash flow hedges	(14,038,000)
Balance at Jun. 30, 2019	533,407,000	3,295,000			$ 159,541,000		$ 5,341,000		(16,470,000)		870,582,000		(482,258,000)		(6,761,000)		529,975,000		137,000		3,432,000
Balance, shares at Jun. 30, 2019					6,450,000		89,025,000
Balance at Mar. 31, 2019	542,491,000	3,356,000			$ 159,541,000		$ 5,342,000		(16,550,000)		869,529,000		(480,502,000)		1,782,000		539,142,000		(7,000)		3,349,000
Balance, shares at Mar. 31, 2019					6,450,000		89,037,000
Net (loss) income	5,544,000	17,000											5,383,000				5,383,000		144,000		161,000
Unrealized gain (loss) on change in fair value of cash flow hedges	(8,596,000)	(53,000)													(8,543,000)		(8,543,000)				(53,000)
Share-based compensation, net	1,132,000						$ (1,000)		80,000		1,053,000						1,132,000
Share-based compensation, net, shares							(13,000)
Common stock sales, net of issuance expenses	3,000										3,000						3,000
Common stock sales, net of issuance expenses, shares							1,000
Preferred stock dividends	(2,688,000)												(2,688,000)				(2,688,000)
Distributions to common shareholders/noncontrolling interests	(4,479,000)	(28,000)											(4,451,000)				(4,451,000)				(28,000)
Reallocation adjustment of limited partners' interest		3,000									(3,000)						(3,000)				3,000
Balance at Jun. 30, 2019	$ 533,407,000	$ 3,295,000			$ 159,541,000		$ 5,341,000		$ (16,470,000)		$ 870,582,000		$ (482,258,000)		$ (6,761,000)		$ 529,975,000		$ 137,000		$ 3,432,000
Balance, shares at Jun. 30, 2019					6,450,000		89,025,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net income (loss)	$ 5,544,000	$ 9,937,000	$ 8,533,000	$ (6,683,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Gain on sales	(2,841,000)		(2,942,000)
Impairment charges				21,396,000
Straight-line rents and expenses, net			(249,000)	(492,000)
Provision for doubtful accounts			231,000	1,002,000
Depreciation and amortization	10,346,000	10,541,000	20,475,000	20,595,000
Amortization of intangible lease liabilities, net	(631,000)	(2,213,000)	(1,222,000)	(2,882,000)
Expense relating to share-based compensation, net			2,043,000	1,837,000
Amortization of premium on mortgage loan payable				(65,000)
Amortization of deferred financing costs			651,000	596,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Rents and other receivables			138,000	(1,895,000)
Prepaid expenses and other			1,239,000	(1,068,000)
Accounts payable and accrued liabilities			(505,000)	(1,767,000)
Net cash provided by operating activities			28,392,000	30,574,000
INVESTING ACTIVITIES
Acquisition of real estate			(9,083,000)
Expenditures for real estate improvements			(15,174,000)	(14,016,000)
Net proceeds from sales of real estate			18,651,000
Net cash (used in) investing activities			(5,606,000)	(14,016,000)
FINANCING ACTIVITIES
Repayments under revolving credit facility			(16,000,000)	(16,500,000)
Advances under revolving credit facility			15,000,000	66,000,000
Mortgage repayments			(508,000)	(1,497,000)
Noncontrolling interests:
Distributions to limited partners			(56,000)	(34,000)
Redemptions of preferred stock				(50,016,000)
Common stock sales less issuance expenses, net			8,000	5,000
Common stock repurchases			(6,844,000)
Preferred stock dividends			(5,376,000)	(5,900,000)
Distributions to common shareholders			(8,906,000)	(9,180,000)
Net cash (used in) financing activities			(22,682,000)	(17,122,000)
Net increase (decrease) in cash, cash equivalents and restricted cash			104,000	(564,000)
Cash, cash equivalents and restricted cash at beginning of year			1,977,000	7,219,000
Cash, cash equivalents and restricted cash at end of period	2,081,000	6,655,000	2,081,000	6,655,000
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	2,081,000	1,625,000	2,081,000	1,625,000
Restricted cash		5,030,000		5,030,000
Cash, cash equivalents and restricted cash at end of period	$ 2,081,000	$ 6,655,000	$ 2,081,000	$ 6,655,000

Business and Organization

Business and Organization	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business and Organization	Note 1. Business and Organization Cedar Realty Trust, Inc. (the “Company”) is a real estate investment trust (“REIT”) that focuses primarily on ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, D.C. to Boston. At June 30, 2019, the Company owned and managed a portfolio of 57 operating properties (excluding properties “held for sale”). Cedar Realty Trust Partnership, L.P. (the “Operating Partnership”) is the entity through which the Company conducts substantially all of its business and owns (either directly or through subsidiaries) substantially all of its assets. At June 30, 2019, the Company owned a 99.4% general and limited partnership interest in, and was the sole general partner of, the Operating Partnership. The limited partners’ interest in the Operating Partnership (0.6% at June 30, 2019) is represented by Operating Partnership Units (“OP Units”). The carrying amount of such interest is adjusted at the end of each reporting period to an amount equal to the limited partners’ ownership percentage of the Operating Partnership’s net equity. The 553,000 OP Units outstanding at June 30, 2019 are economically equivalent to shares of the Company’s common stock. The holders of OP Units have the right to exchange their OP Units for the same number of shares of the Company’s common stock or, at the Company’s option, for cash. Unless specifically noted otherwise, all references to OP Units exclude limited partnership units held by the Company. As used herein, the “Company” refers to Cedar Realty Trust, Inc. and its subsidiaries on a consolidated basis, including the Operating Partnership or, where the context so requires, Cedar Realty Trust, Inc. only.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Principles of Consolidation/Basis of Preparation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and include all of the information and disclosures required by U.S. Generally Accepted Accounting Principles (“GAAP”) for interim reporting. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, all adjustments necessary for fair presentation (including normal recurring accruals) have been included. The financial statements are prepared on the accrual basis in accordance with GAAP, which requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. Actual results could differ from these estimates. The unaudited consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The unaudited consolidated financial statements include the accounts and operations of the Company, the Operating Partnership, its subsidiaries, and certain joint venture partnerships in which it participates. The Company consolidates all variable interest entities for which it is the primary beneficiary. Supplemental Consolidated Statements of Cash Flows Information Six months ended June 30, 2019 2018 Supplemental disclosure of cash activities: Cash paid for interest $ 11,693,000 $ 10,933,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 702,000 727,000 Recognition of right-of-use assets and related lease liabilities 14,205,000 — Recently-Adopted Accounting Pronouncements In February 2016, the FASB issued guidance amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The guidance, effective for annual and interim reporting periods beginning on or after December 15, 2018, requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. The Company is not required to reassess the classification of existing ground leases where it is the lessee and therefore these leases will continue to be accounted for as operating leases. In the event the Company modifies existing ground leases or enters into new ground leases after adoption of the new standard, such leases may be classified as finance leases The FASB provided lessors with a practical expedient, elected by class of underlying asset, to account for lease and non-lease components as a single lease component if certain criteria are met. Lessors that make these elections are required to provide additional disclosures. The FASB provided an additional (and optional) transition method that allows entities to initially apply the guidance at the adoption date (January 1, 2019) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company applied both these practical expedients upon adoption. In November 2018, the FASB clarified the existing accounting treatment relating to receivables arising from operating leases, stating that such receivables are not within the scope of the expected credit loss standard and that impairment of receivables arising from operating leases should be accounted for in accordance with the recently-adopted lease accounting standard. This required the Company to review its existing lease portfolio to determine if all future lease payments are probable of collection and, if the Company determined that all future lease payments are not probable of collection, the Company will account for these leases on a cash basis. This required that all amounts that were historically recorded as bad debt expense, and previously included in operating expenses in the Company’s consolidated statement of operations, now be recorded as a direct reduction of rental revenues. As permitted by the standard upon adoption, the Company recorded a $0.5 million prior-period adjustment to opening equity which the Company has reflected in the consolidated statement of equity for the six months ended June 30, 2019. The Company is not required to reassess the classification of existing ground leases where it is the lessee and therefore these leases will continue to be accounted for as operating leases. The guidance, effective January 1, 2019, did not have a material effect in the accounting for the Company’s lease revenues as lessee. In the event the Company modifies existing ground leases or enters into new ground leases after adoption of the new standard, such leases may be classified as finance leases.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Real Estate	Note 3. Real Estate Acquisition On June 19, 2019, the Company purchased Girard Plaza, a shopping center adjacent to its South Philadelphia property, located in Philadelphia, Pennsylvania. The purchase price for the property was $8.5 million, which has been allocated to real estate assets and liabilities. Dispositions On February 15, 2019, the Company sold Maxatawny Marketplace, located in Maxatawny, Pennsylvania. The sales price for the property was $10.3 million, which resulted in a gain on sale of $0.1 million, which has been included in continuing operations in the accompanying consolidated statement of operations. On June 26, 2019, the Company sold Fort Washington Center, located in Fort Washington, Pennsylvania. The sales price for the property was $9.0 million, which resulted in a gain on sale of $2.8 million, which has been included in continuing operations in the accompanying consolidated statement of operations. Real Estate Held for Sale As of June 30, 2019, Carll’s Corner, located in Bridgeton, New Jersey, and Suffolk Plaza, located in Suffolk, Virginia, have been classified as “real estate held for sale” on the accompanying consolidated balance sheet. The Company, when applicable, conducts a continuing review of the values for all properties “held for sale” based on final sales prices and sales contracts entered into. Impairment charges/reversals, if applicable, are based on a comparison of the carrying values of the properties with either (1) actual sales prices less costs to sell for properties sold, or contract amounts for properties in the process of being sold, (2) estimated sales prices, less costs to sell, based on discounted cash flow or income capitalization analyses, if no contract amounts are being negotiated (see Note 4 - “Fair Value Measurements”), or (3) with respect to land parcels, estimated sales prices, less costs to sell, based on comparable sales completed in the selected market areas. Prior to the Company’s determination to dispose of properties, which are subsequently reclassified to “held for sale”, the Company performed recoverability analyses based on the estimated undiscounted cash flows that were expected to result from the real estate investments’ use and eventual disposal. The projected undiscounted cash flows of each property reflects that the carrying value of each real estate investment would be recovered. However, as a result of the properties’ meeting the “held for sale” criteria, such properties were written down to the lower of their carrying value and estimated fair values less costs to sell.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements The carrying amounts of cash and cash equivalents, restricted cash, rents and other receivables, certain other assets, accounts payable and accrued liabilities, and variable-rate debt approximate their fair value due to their terms and/or short-term nature. The fair value of the Company’s investments and liabilities related to share-based compensation were determined to be Level 1 within the valuation hierarchy, and were based on independent values provided by financial institutions. The fair value of the Company’s fixed rate mortgage loan was estimated using available market information and discounted cash flow analyses based on borrowing rates the Company believes it could obtain with a similar term and maturity. As of June 30, 2019 and December 31, 2018, the fair value of the Company’s fixed rate mortgage loan payable, which was determined to be Level 3 within the valuation hierarchy, was $45.7 million and $44.4 million, respectively; the carrying value of such loan was $46.8 million and $47.3 million, respectively. As of June 30, 2019 and December 31, 2018, respectively, the aggregate fair values of the Company’s unsecured revolving credit facility and term loans approximated the carrying values. In addition, the fair value of the Company’s mortgage note receivable and capital lease obligation, which were determined to be Level 3 within the valuation hierarchy, approximated their carrying values as of June 30, 2019 and December 31, 2018, respectively. The valuations of the assets and liabilities for the Company’s interest rate swaps, which are measured on a recurring basis, were determined to be Level 2 within the valuation hierarchy, and were based on independent values provided by financial institutions. Such valuations were determined using widely accepted valuation techniques, including discounted cash flow analyses, on the expected cash flows of each derivative. The analyses reflect the contractual terms of the swaps, including the period to maturity, and user-observable market-based inputs, including interest rate curves (“significant other observable inputs”). The fair value calculation also includes an amount for risk of non-performance using “significant unobservable inputs” such as estimates of current credit spreads to evaluate the likelihood of default. The Company has concluded that, as of June 30, 2019, the fair value associated with the “significant unobservable inputs” relating to the Company’s risk of non-performance was insignificant to the overall fair value of the interest rate swap agreements and, as a result, that the relevant inputs for purposes of calculating the fair value of the interest rate swap agreements, in their entirety, were based upon “significant other observable inputs”. Nonfinancial assets and liabilities measured at fair value in the consolidated financial statements consist of real estate held for sale, which, if applicable, are measured on a nonrecurring basis, and have been determined to be (1) Level 2 within the valuation hierarchy, where applicable, based on the respective contracts of sale, adjusted for closing costs and expenses, or (2) Level 3 within the valuation hierarchy, where applicable, based on estimated sales prices, adjusted for closing costs and expenses, determined by discounted cash flow analyses, income capitalization analyses or a sales comparison approach if no contracts had been concluded. The discounted cash flow and income capitalization analyses include all estimated cash inflows and outflows over a specific holding period and, where applicable, any estimated debt premiums. These cash flows were composed of unobservable inputs which included forecasted rental revenues and expenses based upon existing in-place leases, market conditions and expectations for growth. Capitalization rates and discount rates utilized in these analyses were based upon observable rates that the Company believed to be within a reasonable range of current market rates for the respective properties. The sales comparison approach is utilized for certain land values and includes comparable sales that were completed in the selected market areas. The comparable sales utilized in these analyses were based upon observable per acre rates that the Company believes to be within a reasonable range of current market rates for the respective properties. Valuations were prepared using internally-developed valuation models. These valuations are reviewed and approved, during each reporting period, by a diverse group of management, as deemed necessary, including personnel from the acquisition, accounting, finance, operations, development and leasing departments, and the valuations are updated as appropriate. In addition, the Company may engage third-party valuation experts to assist with the preparation of certain of its valuations. The following tables show the hierarchy for those assets measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018, respectively: June 30, 2019 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 740,000 $ — $ — $ 740,000 Deferred compensation liabilities (b) $ 738,000 $ — $ — $ 738,000 Interest rate swaps asset (a) $ — $ 498,000 $ — $ 498,000 Interest rate swaps liability (b) $ — $ 7,274,000 $ — $ 7,274,000 December 31, 2018 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 616,000 $ — $ — $ 616,000 Deferred compensation liabilities (b) $ 610,000 $ — $ — $ 610,000 Interest rate swaps asset (a) $ — $ 8,871,000 $ — $ 8,871,000 Interest rate swaps liability (b) $ — $ 1,576,000 $ — $ 1,576,000 (a) Included in other assets and deferred charges, net in the accompanying consolidated balance sheets. (b) Included in accounts payable and accrued liabilities in the accompanying consolidated balance sheets. As of June 30, 2019, one retail property, totaling $1.8 million, was determined to be a Level 3 asset under the hierarchy, and was measured at fair value less cost to sell on a non-recurring basis using an income capitalization approach, consisting of a capitalization rate of 8.5%. In addition, real estate held for sale on the consolidated balance sheet as of June 30, 2019 includes one property for which its fair value exceeds its carrying value.

Mortgage Loans Payable and Cred

Mortgage Loans Payable and Credit Facility	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Mortgage Loans Payable and Credit Facility	Note 5. Mortgage Loans Payable and Credit Facility Debt and capital lease obligations are composed of the following at June 30, 2019: June 30, 2019 Contractual Maturity Balance interest rates Description dates outstanding weighted-average Fixed-rate mortgage Jun 2026 $ 47,181,000 3.9% Capital lease obligation Sep 2050 5,681,000 5.3% Unsecured credit facilities (a): Variable-rate: Revolving credit facility Sep 2021 (b) 99,000,000 3.9% Term loan Sep 2022 50,000,000 4.1% Fixed-rate (c): Term loan Feb 2021 75,000,000 3.7% Term loan Feb 2022 50,000,000 3.1% Term loan Sep 2022 (d) 50,000,000 2.9% Term loan Apr 2023 100,000,000 3.3% Term loan Sep 2024 75,000,000 3.8% Term loan Jul 2025 75,000,000 4.7% 626,862,000 3.7% Unamortized issuance costs (3,153,000 ) $ 623,709,000 (a) During the quarter ended June 30, 2019, the weighted average interest rate for the Company’s unsecured credit facilities increased 14 basis points (“bps”) (ranging from an increase of 10 bps to 15 bps for each individual borrowing) as a result of a slight increase in the Company’s leverage ratio. (b) The revolving credit facility is subject to a one-year extension at the Company’s option. (c) The interest rates on these term loans consist of the London Interbank Offered Rate (“LIBOR”) plus a credit spread based on the Company’s leverage ratio, for which the Company has interest rate swap agreements which convert the LIBOR rates to fixed rates. Accordingly, these term loans are presented as fixed-rate debt. (d) The current interest rate swap agreement expires in February 2020 at which time a new interest rate swap agreement will begin resulting in an effective interest ratio of 3.3%, based on the Company’s leverage ratio at June 30, 2019. Unsecured Revolving Credit Facility and Term Loans As of June 30, 2019, the Company had $117.4 million available for additional borrowings under its revolving credit facility. The Company has a $300 million unsecured credit facility which, as amended and restated on September 8, 2017, consists of (1) a $250 million revolving credit facility, expiring on September 8, 2021, and (2) a $50 million term loan, expiring on September 8, 2022. The revolving credit facility may be extended, at the Company’s option, for an additional one-year period, subject to customary conditions. Under an accordion feature, the facility can be increased to $750 million, subject to customary conditions and lending commitments. Interest on borrowings under the revolving credit facility component can range from LIBOR plus 135 bps to 195 bps (150 bps at June 30, 2019) and interest on borrowings under the term loan component can range from LIBOR plus 130 to 190 bps (145 bps at June 30, 2019), each based on the Company’s leverage ratio. During the quarter ended June 30, 2019, the weighted average interest rate for the Company’s unsecured credit facilities increased 14 bps (ranging from an increase of 10 bps to 15 bps for each individual borrowing) as a result of a slight increase in the Company’s leverage ratio. The Company’s unsecured credit facility and term loans contain financial covenants including, but not limited to, maximum debt leverage, maximum secured debt, minimum fixed charge coverage, and minimum net worth. In addition, the facility contains restrictions including, but not limited to, limits on indebtedness, certain investments and distributions. Although the credit facility is unsecured, borrowing availability is based on unencumbered property adjusted net operating income, as defined in the agreements. The Company’s failure to comply with the covenants or the occurrence of an event of default under the facilities could result in the acceleration of the related debt and exercise of other lender remedies. As of June 30, 2019, the Company is in compliance with all financial covenants. Interest on borrowings under the unsecured credit facility and term loans are based on the Company’s leverage ratio. Derivative Financial Instruments The fair values of the interest rate swaps applicable to the unsecured term loans discussed above are included in other assets and deferred charges, net, and accounts payable and accrued liabilities on the consolidated balance sheet at June 30, 2019. Charges and/or credits relating to the changes in the fair value of the interest rate swaps are made to accumulated other comprehensive income (loss), limited partners’ interest, or operations (included in interest expense), as applicable. Over time, the unrealized gains and losses recorded in accumulated other comprehensive loss will be reclassified into earnings as an increase or reduction to interest expense in the same periods in which the hedged interest payments affect earnings. The Company estimates that approximately $0.3 million of accumulated other comprehensive income will be reclassified as an increase to earnings within the next twelve months. The following is a summary of the derivative financial instruments held by the Company at June 30, 2019 and December 31, 2018: June 30, 2019 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 2 $ 498,000 2020-2023 Other assets and deferred charges, net Qualifying Interest rate swaps 6 $ 7,274,000 2021-2025 Accounts payable and accrued liabilities December 31, 2018 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 7 $ 8,871,000 2019-2024 Other assets and deferred charges, net Qualifying Interest rate swaps 2 $ 1,576,000 2025 Accounts payable and accrued liabilities The notional values of the interest rate swaps held by the Company at June 30, 2019 and December 31, 2018 were $425.0 million and $425.0 million, respectively. The following presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and the consolidated statements of equity for the three and six months ended June 30, 2019 and 2018, respectively: (Loss) gain recognized in other comprehensive (loss) income (effective portion) Designation/ Three months ended June 30, Six months ended June 30, Cash flow Derivative 2019 2018 2019 2018 Qualifying Interest rate swaps $ (8,077,000 ) $ 2,094,000 $ (12,954,000 ) $ 7,846,000 Gain (loss) recognized in other comprehensive (loss) income reclassified into earnings (effective portion) Three months ended June 30, Six months ended June 30, Classification 2019 2018 2019 2018 Continuing Operations $ 519,000 $ 157,000 $ 1,084,000 $ 19,000 As of June 30, 2019 the Company believes it has no significant risk associated with non-performance of the financial institutions which are the counterparties to its derivative contracts.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6. Commitments and Contingencies The Company is a party to certain legal actions arising in the normal course of business. Management does not expect there to be adverse consequences from these actions that would be material to the Company’s consolidated financial statements. The Company is the lessee under several ground lease and its executive office lease agreements. In accordance with the adoption of the new lease accounting standard (see Note 2 – “Recently-Adopted Accounting Pronouncements”), the Company recorded right-of-use assets and related lease liabilities for these leases as of January 1, 2019. As of June 30, 2019, the Company’s weighted average remaining lease term is approximately 31.2 years and the weighted average discount rate used to calculate the Company’s lease liability is approximately 5.6%. Rent expense under the Company’s ground lease and executive office lease agreements was approximately $0.4 million and $0.2 million for the three months ended June 30, 2019 and 2018, respectively, and $0.8 million and $0.5 million for the six months ended June 30, 2019 and 2018, respectively. The following table represents a reconciliation of the Company’s undiscounted future minimum lease payments for its ground lease and executive office lease agreements to the right-of-use liabilities as of June 30, 2019: 2019 - remaining $ 827,000 2020 1,095,000 2021 956,000 2022 955,000 2023 956,000 Thereafter 30,466,000 Total undiscounted future minimum lease payments 35,255,000 Future minimum lease payments, discount (21,050,000 ) Right-of-use liabilities $ 14,205,000

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2019
Stockholders Equity Note [Abstract]
Shareholders' Equity	Note 7. Shareholders’ Equity Preferred Stock The Company is authorized to issue up to 12,500,000 shares of preferred stock. The following tables summarize details about the Company’s preferred stock: Series B Series C Preferred Stock Preferred Stock Par value $ 0.01 $ 0.01 Liquidation value $ 25.00 $ 25.00 June 30, 2019 December 31, 2018 Series B Series C Series B Series C Preferred Stock Preferred Stock Preferred Stock Preferred Stock Shares authorized 1,450,000 6,450,000 1,450,000 6,450,000 Shares issued and outstanding 1,450,000 5,000,000 1,450,000 5,000,000 Balance $ 34,767,000 $ 124,774,000 $ 34,767,000 124,774,000 Common Stock On December 18, 2018, the Company’s Board of Directors approved a stock repurchase program, which authorized the Company to purchase up to $30.0 million of the Company’s common stock in the open market or through private transactions, subject to market conditions, from time to time, through December 18, 2019. During the six months ended June 30, 2019, the Company repurchased approximately 2,050,000 shares at a weighted average price per share of $3.34. Since approval of the plan on December 18, 2018, the Company has repurchased a total of 2,823,000 shares at a weighted average price per share of $3.25. Dividends The following table provides a summary of dividends declared and paid per share: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Common stock $ 0.050 $ 0.050 $ 0.100 $ 0.100 7.25% Series B Preferred Stock $ 0.453 $ 0.453 $ 0.906 $ 0.906 6.50% Series C Preferred Stock $ 0.406 $ 0.406 $ 0.813 $ 0.813 On July 16, 2019, the Company’s Board of Directors declared a dividend of $0.05 per share with respect to its common stock. At the same time, the Board declared dividends of $0.453125 and $0.406250 per share with respect to the Company’s Series B Preferred Stock and Series C Preferred Stock, respectively. The distributions are payable on August 20, 2019 to shareholders of record on August 9, 2019.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenues [Abstract]
Revenues	Note 8. Revenues Rental revenues for the three and six months ended June 30, 2019 and 2018, respectively, comprise the following: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Base rents $ 26,352,000 $ 26,865,000 $ 52,753,000 $ 54,022,000 Expense recoveries 7,950,000 7,767,000 17,144,000 17,053,000 Percentage rent 265,000 127,000 447,000 216,000 Straight-line rents 111,000 246,000 335,000 492,000 Amortization of intangible lease liabilities, net 631,000 2,213,000 1,222,000 2,882,000 Total rents $ 35,309,000 $ 37,218,000 $ 71,901,000 $ 74,665,000

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share Based Compensation [Abstract]
Share-Based Compensation	Note 9. Share-Based Compensation The following tables set forth certain share-based compensation information for the three and six months ended June 30, 2019 and 2018, respectively: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Expense relating to share/unit grants $ 1,140,000 $ 973,000 $ 2,237,000 $ 2,054,000 Amounts capitalized (112,000 ) (110,000 ) (194,000 ) (217,000 ) Total charged to operations $ 1,028,000 $ 863,000 $ 2,043,000 $ 1,837,000 The Company’s 2017 Stock Incentive Plan (the “2017 Plan”) establishes the procedures for the granting of, among other things, restricted stock awards. On May 1, 2019, the Company’s shareholders approved an amendment to the 2017 Plan, which increased the maximum number of shares available for issuance under the plan by 2.0 million shares, to a new total of 6.0 million shares. 2.4 million shares remained available for grants pursuant to the 2017 Plan as of June 30, 2019. During the six months ended June 30, 2019, there were 522,000 restricted shares issued, with a weighted average grant date fair value of $3.22 per share.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Note 10. Earnings Per Share Basic earnings per share (“EPS”) is calculated by dividing net income (loss) attributable to the Company’s common shareholders by the weighted average number of common shares outstanding for the period including participating securities (restricted shares that have non-forfeitable rights to receive dividends issued pursuant to the Company’s share-based compensation program are considered participating securities). Unvested restricted shares that are participating securities are not allocated net losses and/or any excess of dividends declared over net income, as such amounts are allocated entirely to the common shareholders. For the three months ended June 30, 2019 and 2018, the Company had 2.8 million and 3.6 million, respectively, of weighted average unvested restricted shares outstanding that were participating securities. For the six months ended June 30, 2019 and 2018, the Company had 2.8 million and 3.8 million, respectively, of weighted average unvested restricted shares outstanding that were participating securities. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three and six months ended June 30, 2019 and 2018: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Numerator Net income (loss) $ 5,544,000 $ 9,937,000 $ 8,533,000 $ (6,683,000 ) Preferred stock dividends (2,688,000 ) (2,688,000 ) (5,376,000 ) (5,487,000 ) Preferred stock redemptions costs - - - (3,507,000 ) Net (income) attributable to noncontrolling interests (161,000 ) (160,000 ) (268,000 ) (208,000 ) Net earnings allocated to unvested shares (138,000 ) (294,000 ) (282,000 ) (412,000 ) Net income (loss) attributable to vested common shares $ 2,557,000 $ 6,795,000 $ 2,607,000 $ (16,297,000 ) Denominator Weighted average number of vested common shares outstanding, basic 86,260,000 88,011,000 86,420,000 87,817,000 Assumed vesting of market performance-based restricted stock units - 155,000 - - Weighted average number of vested common shares outstanding, diluted 86,260,000 88,166,000 86,420,000 87,817,000 Net income (loss) per common share attributable to common shareholders, basic $ 0.03 $ 0.08 $ 0.03 $ (0.19 ) Net income (loss) per common share attributable to common shareholders, diluted $ 0.03 $ 0.08 $ 0.03 $ (0.19 ) Fully-diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into shares of common stock. For the three and six months ended June 30, 2019, no restricted stock units (“RSU’s”) would have been issuable under the Company’s President and CEO market performance-based equity award had the measurement period ended on June 30, 2019; therefore this market performance-based equity award had no impact in calculation diluted EPS. In addition, fully-diluted EPS for the three months ended June 30, 2018 includes RSU’s that would be been issuable had the measurement period ended on June 30, 2018, whereas for the six months ended June 30, 2018, these shares were excluded as they were anti-dilutive. Net income/loss attributable to noncontrolling interests of the Operating Partnership has been excluded from the numerator and the related OP Units have been excluded from the denominator for the purpose of calculating diluted EPS as there would have been no dilutive effect had such amounts been included. The weighted average number of OP Units outstanding were 553,000 and 347,000 for the three months ended June 30, 2019 and 2018, respectively, and 553,000 and 347,000 for the six months ended June 30, 2019 and 2018, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events In determining subsequent events, management reviewed all activity from July 1, 2019 through the date of filing this Quarterly Report on Form 10-Q. There were no events or transactions that occurred that would require adjustment to, or disclosure in, the Company’s consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Principles of Consolidation/Basis of Preparation	Principles of Consolidation/Basis of Preparation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and include all of the information and disclosures required by U.S. Generally Accepted Accounting Principles (“GAAP”) for interim reporting. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, all adjustments necessary for fair presentation (including normal recurring accruals) have been included. The financial statements are prepared on the accrual basis in accordance with GAAP, which requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. Actual results could differ from these estimates. The unaudited consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The unaudited consolidated financial statements include the accounts and operations of the Company, the Operating Partnership, its subsidiaries, and certain joint venture partnerships in which it participates. The Company consolidates all variable interest entities for which it is the primary beneficiary.
Recently-Adopted Accounting Pronouncements	Recently-Adopted Accounting Pronouncements In February 2016, the FASB issued guidance amending the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The guidance, effective for annual and interim reporting periods beginning on or after December 15, 2018, requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. The Company is not required to reassess the classification of existing ground leases where it is the lessee and therefore these leases will continue to be accounted for as operating leases. In the event the Company modifies existing ground leases or enters into new ground leases after adoption of the new standard, such leases may be classified as finance leases The FASB provided lessors with a practical expedient, elected by class of underlying asset, to account for lease and non-lease components as a single lease component if certain criteria are met. Lessors that make these elections are required to provide additional disclosures. The FASB provided an additional (and optional) transition method that allows entities to initially apply the guidance at the adoption date (January 1, 2019) and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company applied both these practical expedients upon adoption. In November 2018, the FASB clarified the existing accounting treatment relating to receivables arising from operating leases, stating that such receivables are not within the scope of the expected credit loss standard and that impairment of receivables arising from operating leases should be accounted for in accordance with the recently-adopted lease accounting standard. This required the Company to review its existing lease portfolio to determine if all future lease payments are probable of collection and, if the Company determined that all future lease payments are not probable of collection, the Company will account for these leases on a cash basis. This required that all amounts that were historically recorded as bad debt expense, and previously included in operating expenses in the Company’s consolidated statement of operations, now be recorded as a direct reduction of rental revenues. As permitted by the standard upon adoption, the Company recorded a $0.5 million prior-period adjustment to opening equity which the Company has reflected in the consolidated statement of equity for the six months ended June 30, 2019. The Company is not required to reassess the classification of existing ground leases where it is the lessee and therefore these leases will continue to be accounted for as operating leases. The guidance, effective January 1, 2019, did not have a material effect in the accounting for the Company’s lease revenues as lessee. In the event the Company modifies existing ground leases or enters into new ground leases after adoption of the new standard, such leases may be classified as finance leases.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Supplemental Consolidated Statements of Cash Flows Information	Supplemental Consolidated Statements of Cash Flows Information Six months ended June 30, 2019 2018 Supplemental disclosure of cash activities: Cash paid for interest $ 11,693,000 $ 10,933,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 702,000 727,000 Recognition of right-of-use assets and related lease liabilities 14,205,000 —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at a Fair Value on Recurring Basis	The following tables show the hierarchy for those assets measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018, respectively: June 30, 2019 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 740,000 $ — $ — $ 740,000 Deferred compensation liabilities (b) $ 738,000 $ — $ — $ 738,000 Interest rate swaps asset (a) $ — $ 498,000 $ — $ 498,000 Interest rate swaps liability (b) $ — $ 7,274,000 $ — $ 7,274,000 December 31, 2018 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 616,000 $ — $ — $ 616,000 Deferred compensation liabilities (b) $ 610,000 $ — $ — $ 610,000 Interest rate swaps asset (a) $ — $ 8,871,000 $ — $ 8,871,000 Interest rate swaps liability (b) $ — $ 1,576,000 $ — $ 1,576,000 (a) Included in other assets and deferred charges, net in the accompanying consolidated balance sheets. (b) Included in accounts payable and accrued liabilities in the accompanying consolidated balance sheets.

Mortgage Loans Payable and Cr_2

Mortgage Loans Payable and Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt and Capital Lease Obligations Related to Continuing Operations	Debt and capital lease obligations are composed of the following at June 30, 2019: June 30, 2019 Contractual Maturity Balance interest rates Description dates outstanding weighted-average Fixed-rate mortgage Jun 2026 $ 47,181,000 3.9% Capital lease obligation Sep 2050 5,681,000 5.3% Unsecured credit facilities (a): Variable-rate: Revolving credit facility Sep 2021 (b) 99,000,000 3.9% Term loan Sep 2022 50,000,000 4.1% Fixed-rate (c): Term loan Feb 2021 75,000,000 3.7% Term loan Feb 2022 50,000,000 3.1% Term loan Sep 2022 (d) 50,000,000 2.9% Term loan Apr 2023 100,000,000 3.3% Term loan Sep 2024 75,000,000 3.8% Term loan Jul 2025 75,000,000 4.7% 626,862,000 3.7% Unamortized issuance costs (3,153,000 ) $ 623,709,000 (a) During the quarter ended June 30, 2019, the weighted average interest rate for the Company’s unsecured credit facilities increased 14 basis points (“bps”) (ranging from an increase of 10 bps to 15 bps for each individual borrowing) as a result of a slight increase in the Company’s leverage ratio. (b) The revolving credit facility is subject to a one-year extension at the Company’s option. (c) The interest rates on these term loans consist of the London Interbank Offered Rate (“LIBOR”) plus a credit spread based on the Company’s leverage ratio, for which the Company has interest rate swap agreements which convert the LIBOR rates to fixed rates. Accordingly, these term loans are presented as fixed-rate debt. (d) The current interest rate swap agreement expires in February 2020 at which time a new interest rate swap agreement will begin resulting in an effective interest ratio of 3.3%, based on the Company’s leverage ratio at June 30, 2019.
Summary of Derivative Financial Instruments Held	The following is a summary of the derivative financial instruments held by the Company at June 30, 2019 and December 31, 2018: June 30, 2019 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 2 $ 498,000 2020-2023 Other assets and deferred charges, net Qualifying Interest rate swaps 6 $ 7,274,000 2021-2025 Accounts payable and accrued liabilities December 31, 2018 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 7 $ 8,871,000 2019-2024 Other assets and deferred charges, net Qualifying Interest rate swaps 2 $ 1,576,000 2025 Accounts payable and accrued liabilities
Effect of Derivative Financial Instruments on Consolidated Statements of Operations and Consolidated Statements of Equity	The following presents the effect of the Company’s derivative financial instruments on the consolidated statements of operations and the consolidated statements of equity for the three and six months ended June 30, 2019 and 2018, respectively: (Loss) gain recognized in other comprehensive (loss) income (effective portion) Designation/ Three months ended June 30, Six months ended June 30, Cash flow Derivative 2019 2018 2019 2018 Qualifying Interest rate swaps $ (8,077,000 ) $ 2,094,000 $ (12,954,000 ) $ 7,846,000 Gain (loss) recognized in other comprehensive (loss) income reclassified into earnings (effective portion) Three months ended June 30, Six months ended June 30, Classification 2019 2018 2019 2018 Continuing Operations $ 519,000 $ 157,000 $ 1,084,000 $ 19,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Summary of Reconciliation of Undiscounted Future Minimum Lease Payments for its Ground Lease and Executive Office Lease Agreements to Right-of-Use Liabilities	The following table represents a reconciliation of the Company’s undiscounted future minimum lease payments for its ground lease and executive office lease agreements to the right-of-use liabilities as of June 30, 2019: 2019 - remaining $ 827,000 2020 1,095,000 2021 956,000 2022 955,000 2023 956,000 Thereafter 30,466,000 Total undiscounted future minimum lease payments 35,255,000 Future minimum lease payments, discount (21,050,000 ) Right-of-use liabilities $ 14,205,000

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Schedule of Dividends	The following table provides a summary of dividends declared and paid per share: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Common stock $ 0.050 $ 0.050 $ 0.100 $ 0.100 7.25% Series B Preferred Stock $ 0.453 $ 0.453 $ 0.906 $ 0.906 6.50% Series C Preferred Stock $ 0.406 $ 0.406 $ 0.813 $ 0.813
Preferred Stock [Member]
Summary of Preferred Stock	The Company is authorized to issue up to 12,500,000 shares of preferred stock. The following tables summarize details about the Company’s preferred stock: Series B Series C Preferred Stock Preferred Stock Par value $ 0.01 $ 0.01 Liquidation value $ 25.00 $ 25.00 June 30, 2019 December 31, 2018 Series B Series C Series B Series C Preferred Stock Preferred Stock Preferred Stock Preferred Stock Shares authorized 1,450,000 6,450,000 1,450,000 6,450,000 Shares issued and outstanding 1,450,000 5,000,000 1,450,000 5,000,000 Balance $ 34,767,000 $ 124,774,000 $ 34,767,000 124,774,000

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
Revenues [Abstract]
Schedule of Rental Revenues	Rental revenues for the three and six months ended June 30, 2019 and 2018, respectively, comprise the following: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Base rents $ 26,352,000 $ 26,865,000 $ 52,753,000 $ 54,022,000 Expense recoveries 7,950,000 7,767,000 17,144,000 17,053,000 Percentage rent 265,000 127,000 447,000 216,000 Straight-line rents 111,000 246,000 335,000 492,000 Amortization of intangible lease liabilities, net 631,000 2,213,000 1,222,000 2,882,000 Total rents $ 35,309,000 $ 37,218,000 $ 71,901,000 $ 74,665,000

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share Based Compensation [Abstract]
Schedule of Share-Based Compensation Information	The following tables set forth certain share-based compensation information for the three and six months ended June 30, 2019 and 2018, respectively: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Expense relating to share/unit grants $ 1,140,000 $ 973,000 $ 2,237,000 $ 2,054,000 Amounts capitalized (112,000 ) (110,000 ) (194,000 ) (217,000 ) Total charged to operations $ 1,028,000 $ 863,000 $ 2,043,000 $ 1,837,000

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three and six months ended June 30, 2019 and 2018: Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Numerator Net income (loss) $ 5,544,000 $ 9,937,000 $ 8,533,000 $ (6,683,000 ) Preferred stock dividends (2,688,000 ) (2,688,000 ) (5,376,000 ) (5,487,000 ) Preferred stock redemptions costs - - - (3,507,000 ) Net (income) attributable to noncontrolling interests (161,000 ) (160,000 ) (268,000 ) (208,000 ) Net earnings allocated to unvested shares (138,000 ) (294,000 ) (282,000 ) (412,000 ) Net income (loss) attributable to vested common shares $ 2,557,000 $ 6,795,000 $ 2,607,000 $ (16,297,000 ) Denominator Weighted average number of vested common shares outstanding, basic 86,260,000 88,011,000 86,420,000 87,817,000 Assumed vesting of market performance-based restricted stock units - 155,000 - - Weighted average number of vested common shares outstanding, diluted 86,260,000 88,166,000 86,420,000 87,817,000 Net income (loss) per common share attributable to common shareholders, basic $ 0.03 $ 0.08 $ 0.03 $ (0.19 ) Net income (loss) per common share attributable to common shareholders, diluted $ 0.03 $ 0.08 $ 0.03 $ (0.19 )

Business and Organization (Deta

Business and Organization (Details)	6 Months Ended
	Jun. 30, 2019propertyshares
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Number of properties | property	57
Company's interest in Operating Partnership	99.40%
OP units outstanding | shares	553,000
Cedar Realty Trust Partnership L.P [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Limited partners' interest in Operating Partnership	0.60%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Supplemental Consolidated Statements of Cash Flows Information) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Supplemental disclosure of cash activities:
Cash paid for interest	$ 11,693,000	$ 10,933,000
Supplemental disclosure of non-cash activities:
Capitalization of interest and financing costs	702,000	$ 727,000
Recognition of right-of-use assets and related lease liabilities	$ 14,205,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019
Summary Of Significant Accounting Policies [Line Items]
Operating lease, right-of-use asset					$ 14,600,000
Operating lease, right-of-use liability	$ 14,205,000		$ 14,205,000
Operating lease cost	800,000		1,400,000
Total revenues	$ 35,660,000	$ 41,350,000	72,543,000	$ 78,918,000
Adjustment to opening equity prior period			$ 500,000
Rents [Member] | Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Total revenues		29,500,000		57,600,000
Expense Recoveries [Member] | Accounting Standards Update 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Total revenues		$ 7,800,000		$ 17,100,000
Accounts Payable and Accrued Liabilities [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating lease, right-of-use liability					$ 14,600,000

Real Estate (Narrative) (Detail

Real Estate (Narrative) (Details) - USD ($)	Jun. 26, 2019	Jun. 19, 2019	Feb. 15, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Real Estate Properties [Line Items]
Purchase price						$ 9,083,000
Total revenues				$ 35,660,000	$ 41,350,000	72,543,000	$ 78,918,000
Gain on sale of real estate				$ 2,841,000		$ 2,942,000
Girard Plaza [Member]
Real Estate Properties [Line Items]
Purchase price		$ 8,500,000
Maxatawny Marketplace [Member]
Real Estate Properties [Line Items]
Total revenues			$ 10,300,000
Type of Revenue [Extensible List]			us-gaap:RealEstateMember
Gain on sale of real estate			$ 100,000
Location						Maxatawny, Pennsylvania
Fort Washington [Member]
Real Estate Properties [Line Items]
Total revenues	$ 9,000,000
Type of Revenue [Extensible List]	us-gaap:RealEstateMember
Gain on sale of real estate	$ 2,800,000
Location						Fort Washington, Pennsylvania.
Carll's Corner [Member]
Real Estate Properties [Line Items]
Location						Bridgeton, New Jersey
Suffolk Plaza [Member]
Real Estate Properties [Line Items]
Location						Suffolk, Virginia

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	6 Months Ended
	Jun. 30, 2019USD ($)property	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of fixed rate mortgage loans payable	$ 45,700,000	$ 44,400,000
Carrying value of fixed rate mortgage payable	$ 46,800,000	47,300,000
Number of properties | property	57
Real estate held for sale	$ 7,244,000	$ 11,592,000
Real Estate Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties | property	1
Nonrecurring Basis [Member] | Level 3 [Member] | Assets [Member] | Retail Properties [Member] | Income Capitalization Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties | property	1
Real estate held for sale	$ 1,800,000
Nonrecurring Basis [Member] | Level 3 [Member] | Assets [Member] | Retail Properties [Member] | Income Capitalization Approach [Member] | Measurement Input Cap Rate [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Capitalization rates	8.50%

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at a Fair Value on Recurring Basis) (Details) - Recurring Basis [Member] - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments related to deferred compensation liabilities	$ 740,000	$ 616,000
Deferred compensation liabilities	738,000	610,000
Interest rate swaps asset	498,000	8,871,000
Interest rate swaps liability	7,274,000	1,576,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments related to deferred compensation liabilities	740,000	616,000
Deferred compensation liabilities	738,000	610,000
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps asset	498,000	8,871,000
Interest rate swaps liability	$ 7,274,000	$ 1,576,000

Mortgage Loans Payable and Cr_3

Mortgage Loans Payable and Credit Facility (Schedule of Debt and Capital Lease Obligations Related to Continuing Operations) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Mortgage loans payable	$ 46,848,000	$ 47,315,000
Credit facilities	99,000,000	$ 100,000,000
Unamortized issuance costs	3,153,000
Continuing Operations [Member]
Debt Instrument [Line Items]
Total debt gross	626,862,000
Total debt	$ 623,709,000
Weighted average contractual interest rate	3.70%
Continuing Operations [Member] | Capital Lease Obligation [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2050
Total debt gross	$ 5,681,000
Weighted average contractual interest rate	5.30%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2026
Mortgage loans payable	$ 47,181,000
Weighted average contractual interest rate	3.90%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan Two [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2021
Credit facilities	$ 75,000,000
Weighted average contractual interest rate	3.70%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan Three [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Feb. 28, 2022
Credit facilities	$ 50,000,000
Weighted average contractual interest rate	3.10%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan Four [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2022
Credit facilities	$ 50,000,000
Weighted average contractual interest rate	2.90%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan Five [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Apr. 30, 2023
Credit facilities	$ 100,000,000
Weighted average contractual interest rate	3.30%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan Six [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2024
Credit facilities	$ 75,000,000
Weighted average contractual interest rate	3.80%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan Seven [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Jul. 31, 2025
Credit facilities	$ 75,000,000
Weighted average contractual interest rate	4.70%
Continuing Operations [Member] | Variable-Rate Mortgage [Member] | Revolving Credit Facility [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2021
Credit facilities	$ 99,000,000
Weighted average contractual interest rate	3.90%
Continuing Operations [Member] | Variable-Rate Mortgage [Member] | Term Loan [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2022
Credit facilities	$ 50,000,000
Weighted average contractual interest rate	4.10%

Mortgage Loans Payable and Cr_4

Mortgage Loans Payable and Credit Facility (Schedule of Debt and Capital Lease Obligations Related to Continuing Operations) (Parenthetical) (Details)	Sep. 08, 2017	Jun. 30, 2019	Jun. 30, 2019
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on borrowings variable rate			1.50%
Line of credit facility extension allowed period	1 year		1 year
Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on borrowings variable rate	1.35%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on borrowings variable rate	1.95%
Revolving Credit Facility [Member] | Unsecured credit facility [Member]
Debt Instrument [Line Items]
Basis spread on borrowings variable rate		0.14%
Revolving Credit Facility [Member] | Unsecured credit facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on borrowings variable rate		0.10%
Revolving Credit Facility [Member] | Unsecured credit facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on borrowings variable rate		0.15%
Term Loan Six [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Expiration period			2020-02
Effective interest rate			3.30%

Mortgage Loans Payable and Cr_5

Mortgage Loans Payable and Credit Facility (Narrative) (Details) - USD ($)	Sep. 08, 2017	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Line Of Credit Facility [Line Items]
Approximate amount of accumulated other comprehensive income to be reclassified into earnings			$ 300,000
Interest Rate Swap [Member]
Line Of Credit Facility [Line Items]
Derivative, notional amount		$ 425,000,000	425,000,000	$ 425,000,000
Unsecured credit facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 300,000,000
Aggregate borrowing capacity including increase under accordion feature	$ 750,000,000
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity		$ 117,400,000	$ 117,400,000
Line of credit facility extension allowed period	1 year		1 year
Basis spread on borrowings variable rate			1.50%
Revolving Credit Facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.35%
Revolving Credit Facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.95%
Revolving Credit Facility [Member] | Unsecured credit facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 250,000,000
Credit facility expiration date	Sep. 8, 2021
Basis spread on borrowings variable rate		0.14%
Revolving Credit Facility [Member] | Unsecured credit facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate		0.10%
Revolving Credit Facility [Member] | Unsecured credit facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate		0.15%
Term loan facility [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate			1.45%
Term loan facility [Member] | Minimum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.30%
Term loan facility [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Basis spread on borrowings variable rate	1.90%
Term loan facility [Member] | Unsecured credit facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 50,000,000
Credit facility expiration date	Sep. 8, 2022

Mortgage Loans Payable and Cr_6

Mortgage Loans Payable and Credit Facility (Summary of Derivative Financial Instruments Held) (Details) - Interest Rate Swap [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)contract	Dec. 31, 2018USD ($)contract
Derivatives Fair Value [Line Items]
Count | contract	6	2
Fair value | $	$ 7,274,000	$ 1,576,000
Maturity dates		2025
Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2021
Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2025
Cash Flow Hedging, Count 7 [Member]
Derivatives Fair Value [Line Items]
Count | contract	2
Fair value | $	$ 498,000
Cash Flow Hedging, Count 7 [Member] | Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2020
Cash Flow Hedging, Count 7 [Member] | Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2024
Cash Flow Hedging, Count 6 [Member]
Derivatives Fair Value [Line Items]
Count | contract		7
Fair value | $		$ 8,871,000
Cash Flow Hedging, Count 6 [Member] | Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates		2019
Cash Flow Hedging, Count 6 [Member] | Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates		2024

Mortgage Loans Payable and Cr_7

Mortgage Loans Payable and Credit Facility (Effect of Derivative Financial Instruments on Consolidated Statements of Operations and Consolidated Statements of Equity) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Designation/Cash Flow [Member] | Interest Rate Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Net amount of (Loss) gain recognized in other comprehensive (loss) income (effective portion)	$ (8,077,000)	$ 2,094,000	$ (12,954,000)	$ 7,846,000
Continuing Operations [Member]
Derivative Instruments Gain Loss [Line Items]
Net amount of Gain (loss) recognized in other comprehensive (loss)income reclassified into earnings (effective portion)	$ 519,000	$ 157,000	$ 1,084,000	$ 19,000

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Weighted average remaining lease term	31 years 2 months 12 days		31 years 2 months 12 days
Weighted average discount rate	5.60%		5.60%
Rent expense	$ 0.4	$ 0.2	$ 0.8	$ 0.5

Commitments and Contingencies_3

Commitments and Contingencies (Summary of Reconciliation of Undiscounted Future Minimum Lease Payments for its Ground Lease and Executive Office Lease Agreements to Right-of-Use Liabilities) (Details)	Jun. 30, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
2019 - remaining	$ 827,000
2020	1,095,000
2021	956,000
2022	955,000
2023	956,000
Thereafter	30,466,000
Total undiscounted future minimum lease payments	35,255,000
Future minimum lease payments, discount	(21,050,000)
Right-of-use liabilities	$ 14,205,000

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 16, 2019	Jun. 30, 2019	Dec. 31, 2018	Dec. 18, 2018
Class Of Stock [Line Items]
Preferred stock, shares authorized		12,500,000
Common stock repurchase, authorized				$ 30
Common stock repurchase, shares		2,050,000
Common stock repurchase, weighted average price per share		$ 3.34
Additional number of common stock shares repurchased				2,823,000
Additional common stock repurchased, weighted average price per share				$ 3.25
Series B [Member]
Class Of Stock [Line Items]
Preferred stock, shares authorized		1,450,000	1,450,000
Series C [Member]
Class Of Stock [Line Items]
Preferred stock, shares authorized		6,450,000	6,450,000
Subsequent Event [Member]
Class Of Stock [Line Items]
Dividends payable, date declared	Jul. 16, 2019
Common stock, dividends declared	$ 0.05
Dividends payable, date to be paid	Aug. 20, 2019
Dividends payable, date of record	Aug. 9, 2019
Subsequent Event [Member] | Series B [Member]
Class Of Stock [Line Items]
Preferred stock dividends declared	$ 0.453125
Subsequent Event [Member] | Series C [Member]
Class Of Stock [Line Items]
Preferred stock dividends declared	$ 0.406250

Shareholders' Equity (Summary o

Shareholders' Equity (Summary of Preferred Stock) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Class Of Stock [Line Items]
Preferred stock, shares authorized	12,500,000
Preferred stock	$ 159,541,000	$ 159,541,000
Series B [Member]
Class Of Stock [Line Items]
Par value	$ 0.01
Liquidation value	$ 25
Preferred stock, shares authorized	1,450,000	1,450,000
Shares issued	1,450,000	1,450,000
Shares outstanding	1,450,000	1,450,000
Preferred stock	$ 34,767,000	$ 34,767,000
Series C Preferred Stock [Member]
Class Of Stock [Line Items]
Par value	$ 0.01
Liquidation value	$ 25
Preferred stock, shares authorized	6,450,000	6,450,000
Shares issued	5,000,000	5,000,000
Shares outstanding	5,000,000	5,000,000
Preferred stock	$ 124,774,000	$ 124,774,000

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule of Dividends) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Class Of Stock [Line Items]
Common stock	$ 0.050	$ 0.050	$ 0.100	$ 0.100
Series B [Member]
Class Of Stock [Line Items]
Cumulative Redeemable Preferred Stock	$ 0.453	$ 0.453	$ 0.906	$ 0.906
Dividend rate percentage	7.25%	7.25%	7.25%	7.25%
Series C Preferred Stock [Member]
Class Of Stock [Line Items]
Cumulative Redeemable Preferred Stock	$ 0.406	$ 0.406	$ 0.813	$ 0.813
Dividend rate percentage	6.50%	6.50%	6.50%	6.50%

Revenues (Schedule of Rental Re

Revenues (Schedule of Rental Revenues) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues [Abstract]
Base rents	$ 26,352,000	$ 26,865,000	$ 52,753,000	$ 54,022,000
Expense recoveries	7,950,000	7,767,000	17,144,000	17,053,000
Percentage rent	265,000	127,000	447,000	216,000
Straight-line rents	111,000	246,000	335,000	492,000
Amortization of intangible lease liabilities, net	631,000	2,213,000	1,222,000	2,882,000
Total rents	$ 35,309,000	$ 37,218,000	$ 71,901,000	$ 74,665,000

Share-Based Compensation (Sched

Share-Based Compensation (Schedule of Share-Based Compensation Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation [Abstract]
Expense relating to share/unit grants	$ 1,140,000	$ 973,000	$ 2,237,000	$ 2,054,000
Amounts capitalized	(112,000)	(110,000)	(194,000)	(217,000)
Total charged to operations	$ 1,028,000	$ 863,000	$ 2,043,000	$ 1,837,000

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - 2017 Plan [Member] - $ / shares	May 01, 2019	Apr. 30, 2019	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant under Stock Incentive Plan			2,400,000
Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued	6,000,000	2,000,000	522,000
Weighted-average grant date fair value per share			$ 3.22

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average nonvested restricted shares outstanding	2,800,000	3,600,000	2,800,000	3,800,000
Weighted average number of OP units outstanding	553,000	347,000	553,000	347,000
Market Performance-Based Equity Award [Member] | Chief Executive Officer [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares issuable under Stock incentive plan	0		0

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Calculation of Numerator and Denominator in Earnings Per Share) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ 5,544,000	$ 9,937,000	$ 8,533,000	$ (6,683,000)
Preferred stock dividends	(2,688,000)	(2,688,000)	(5,376,000)	(5,487,000)
Preferred stock redemptions costs				(3,507,000)
Net (income) attributable to noncontrolling interests	(161,000)	(160,000)	(268,000)	(208,000)
Net earnings allocated to unvested shares	(138,000)	(294,000)	(282,000)	(412,000)
Net income (loss) attributable to vested common shares	$ 2,557,000	$ 6,795,000	$ 2,607,000	$ (16,297,000)
Weighted average number of vested common shares outstanding, basic	86,260,000	88,011,000	86,420,000	87,817,000
Assumed vesting of market performance-based restricted stock units		155,000
Weighted average number of vested common shares outstanding, diluted	86,260,000	88,166,000	86,420,000	87,817,000
Net income (loss) per common share attributable to common shareholders, basic	$ 0.03	$ 0.08	$ 0.03	$ (0.19)
Net income (loss) per common share attributable to common shareholders, diluted	$ 0.03	$ 0.08	$ 0.03	$ (0.19)