Cedar Realty Trust (CDR-PB) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 02, 2022
Document Information [Line Items]
Document type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
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 Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		13,555,307
Entity File Number	001-31817
Entity Tax Identification Number	42-1241468
Entity Address, Address Line One	928 Carmans Road
Entity Address, City or Town	Massapequa
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11758
City Area Code	516
Local Phone Number	767-6492
Entity Incorporation, State or Country Code	MD
Document Quarterly Report	true
Document Transition Report	false
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	CDR
Title of 12(b) Security	Common Stock, $0.06 par value
Security Exchange Name	NYSE
Series B Preferred Stock [Member]
Document Information [Line Items]
Trading Symbol	CDRpB
Title of 12(b) Security	7-1/4% Series B Cumulative Redeemable Preferred Stock, $25.00 Liquidation Value
Security Exchange Name	NYSE
Series C Preferred Stock [Member]
Document Information [Line Items]
Trading Symbol	CDRpC
Title of 12(b) Security	6-1/2% Series C Cumulative Redeemable Preferred Stock, $25.00 Liquidation Value
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Land	$ 68,865,000	$ 68,865,000
Buildings and improvements	301,263,000	300,962,000
Real estate, gross	370,128,000	369,827,000
Less accumulated depreciation	(159,992,000)	(155,250,000)
Real estate, net	210,136,000	214,577,000
Real estate held for sale	719,312,000	757,037,000
Investment in unconsolidated joint venture	4,809,000	4,654,000
Cash and cash equivalents	1,042,000	3,039,000
Restricted cash	230,000	230,000
Receivables	13,098,000	13,580,000
Other assets and deferred charges, net	21,522,000	23,777,000
TOTAL ASSETS	970,149,000	1,016,894,000
LIABILITIES AND EQUITY
Mortgage loan payable - held for sale	156,356,000	156,821,000
Finance lease obligation - held for sale	5,300,000	5,314,000
Unsecured revolving credit facility	41,000,000	66,000,000
Unsecured term loans	299,092,000	298,903,000
Accounts payable and accrued liabilities	61,301,000	42,099,000
Unamortized intangible lease liabilities	5,040,000	5,367,000
Unamortized intangible lease liabilities - held for sale	2,238,000	2,422,000
Total liabilities	570,327,000	576,926,000
Commitments and contingencies
Equity:
Preferred stock	159,541,000	159,541,000
Common stock ($0.06 par value, 150,000,000 shares authorized, 13,558,000 and 13,658,000 shares, issued and outstanding, respectively)	814,000	820,000
Treasury stock (332,000 and 387,000 shares, respectively, at cost)	(10,760,000)	(13,266,000)
Additional paid-in capital	877,981,000	881,009,000
Cumulative distributions in excess of net income	(632,383,000)	(582,464,000)
Accumulated other comprehensive income (loss)	3,135,000	(8,258,000)
Total Cedar Realty Trust, Inc. shareholders' equity	398,328,000	437,382,000
Noncontrolling interests:
Limited partners' OP Units	1,494,000	2,586,000
Total noncontrolling interests	1,494,000	2,586,000
Total equity	399,822,000	439,968,000
TOTAL LIABILITIES AND EQUITY	$ 970,149,000	$ 1,016,894,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
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	13,558,000	13,658,000
Common stock, shares outstanding	13,558,000	13,658,000
Treasury stock, shares	332,000	387,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
REVENUES
Total revenues	$ 8,503,000	$ 10,844,000	$ 16,781,000	$ 21,779,000
EXPENSES
Operating, maintenance and management	2,019,000	1,842,000	3,816,000	4,160,000
Real estate and other property-related taxes	1,526,000	1,822,000	2,768,000	3,680,000
General and administrative	2,861,000	5,096,000	5,773,000	9,500,000
Depreciation and amortization	2,850,000	2,976,000	5,351,000	6,437,000
Total expenses	9,256,000	11,736,000	17,708,000	23,777,000
OTHER
Gain on sales		48,857,000		48,857,000
Transaction costs	(30,457,000)		(34,192,000)
Impairment (charges) reversal	(2,000)	1,849,000	(199,000)	1,849,000
Total other	(30,459,000)	50,706,000	(34,391,000)	50,706,000
OPERATING (LOSS) INCOME	(31,212,000)	49,814,000	(35,318,000)	48,708,000
NON-OPERATING INCOME AND EXPENSES
Interest expense	(3,130,000)	(3,803,000)	(5,837,000)	(7,982,000)
Total non-operating income and expenses	(3,130,000)	(3,803,000)	(5,837,000)	(7,982,000)
NET (LOSS) INCOME FROM CONTINUING OPERATIONS	(34,342,000)	46,011,000	(41,155,000)	40,726,000
DISCONTINUED OPERATIONS
Income from operations	7,698,000	5,453,000	13,946,000	10,944,000
Impairment charges	(16,119,000)		(16,630,000)
Gain on sales				1,047,000
Total (loss) income from discontinued operations	(8,421,000)	5,453,000	(2,684,000)	11,991,000
NET (LOSS) INCOME	(42,763,000)	51,464,000	(43,839,000)	52,717,000
Net loss (income) attributable to noncontrolling interests:
Minority interests in consolidated joint ventures		(122,000)		(272,000)
Limited partners' interest in Operating Partnership	176,000	(287,000)	196,000	(278,000)
Total net loss (income) attributable to noncontrolling interests	176,000	(409,000)	196,000	(550,000)
NET (LOSS) INCOME ATTRIBUTABLE TO CEDAR REALTY TRUST, INC.	(42,587,000)	51,055,000	(43,643,000)	52,167,000
Preferred stock dividends	(2,688,000)	(2,688,000)	(5,376,000)	(5,376,000)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (45,275,000)	$ 48,367,000	$ (49,019,000)	$ 46,791,000
NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS (BASIC AND DILUTED):
Continuing operations, basic per share	$ (2.78)	$ 3.11	$ (3.49)	$ 2.51
Continuing operations, diluted per share	(2.78)	3.11	(3.49)	2.51
Discontinued operations, basic per share	(0.63)	0.41	(0.20)	0.90
Discontinued operations, diluted per share	(0.63)	0.41	(0.20)	0.90
NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS, BASIC	(3.41)	3.52	(3.69)	3.41
NET (LOSS) INCOME PER COMMON SHARE ATTRIBUTABLE TO COMMON SHAREHOLDERS, DILUTED	$ (3.41)	$ 3.52	$ (3.69)	$ 3.41
Weighted average number of common shares - basic	13,288,000	13,197,000	13,287,000	13,171,000
Weighted average number of common shares - diluted	13,288,000	13,197,000	13,287,000	13,171,000
Rental Revenues [Member]
REVENUES
Total revenues	$ 8,367,000	$ 10,603,000	$ 16,443,000	$ 21,445,000
Other [Member]
REVENUES
Total revenues	$ 136,000	$ 241,000	$ 338,000	$ 334,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (42,763,000)	$ 51,464,000	$ (43,839,000)	$ 52,717,000
Unrealized gain on change in fair value of cash flow hedges	3,114,000	1,019,000	11,452,000	5,216,000
Comprehensive (loss) income	(39,649,000)	52,483,000	(32,387,000)	57,933,000
Comprehensive loss (income) attributable to noncontrolling interests	166,000	(419,000)	137,000	(586,000)
Comprehensive (loss) income attributable to Cedar Realty Trust, Inc.	$ (39,483,000)	$ 52,064,000	$ (32,250,000)	$ 57,347,000

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($)	Total	Limited Partners' Interest In Operating Partnership [Member]	Preferred Stock [Member]	Common Stock [Member]	Treasury Stock, At Cost [Member]	Additional Paid-In Capital [Member]	Cumulative Distributions In Excess Of Net Income [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Cedar Realty Trust, Inc. [Member]	Minority Interests In Consolidated Joint Ventures [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2020	$ 487,458,000	$ 2,907,000	$ 159,541,000	$ 812,000	$ (15,133,000)	$ 879,790,000	$ (522,696,000)	$ (18,816,000)	$ 483,498,000	$ 1,053,000	$ 3,960,000
Balance, shares at Dec. 31, 2020			6,450,000	13,530,000
Net income (loss)	1,253,000	(9,000)					1,112,000		1,112,000	150,000	141,000
Unrealized gain (loss) on change in fair value of cash flow hedges	4,197,000	26,000						4,171,000	4,171,000		26,000
Share-based compensation, net	781,000			$ 6,000	1,172,000	(397,000)			781,000
Share-based compensation, net, shares				99,000
Common stock sales, net of issuance expenses	1,000					1,000			1,000
Preferred stock dividends	(2,688,000)						(2,688,000)		(2,688,000)
Distributions to common shareholders/noncontrolling interests	(904,000)	(5,000)					(899,000)		(899,000)		(5,000)
Reallocation adjustment of limited partners' interest		(19,000)				19,000			19,000		(19,000)
Balance at Mar. 31, 2021	490,098,000	2,900,000	$ 159,541,000	$ 818,000	(13,961,000)	879,413,000	(525,171,000)	(14,645,000)	485,995,000	1,203,000	4,103,000
Balance, shares at Mar. 31, 2021			6,450,000	13,629,000
Balance at Dec. 31, 2020	487,458,000	2,907,000	$ 159,541,000	$ 812,000	(15,133,000)	879,790,000	(522,696,000)	(18,816,000)	483,498,000	1,053,000	3,960,000
Balance, shares at Dec. 31, 2020			6,450,000	13,530,000
Unrealized gain (loss) on change in fair value of cash flow hedges	5,216,000
Balance at Jun. 30, 2021	539,782,000	3,146,000	$ 159,541,000	$ 818,000	(13,911,000)	880,491,000	(477,992,000)	(13,636,000)	535,311,000	1,325,000	4,471,000
Balance, shares at Jun. 30, 2021			6,450,000	13,628,000
Balance at Mar. 31, 2021	490,098,000	2,900,000	$ 159,541,000	$ 818,000	(13,961,000)	879,413,000	(525,171,000)	(14,645,000)	485,995,000	1,203,000	4,103,000
Balance, shares at Mar. 31, 2021			6,450,000	13,629,000
Net income (loss)	51,464,000	287,000					51,055,000		51,055,000	122,000	409,000
Unrealized gain (loss) on change in fair value of cash flow hedges	1,019,000	10,000						1,009,000	1,009,000		10,000
Share-based compensation, net	1,089,000				50,000	1,039,000			1,089,000
Share-based compensation, net, shares				(1,000)
Common stock sales, net of issuance expenses	1,000					1,000			1,000
Purchase/Redemption of OP Units	(8,000)	(8,000)									(8,000)
Preferred stock dividends	(2,688,000)						(2,688,000)		(2,688,000)
Distributions to common shareholders/noncontrolling interests	(1,193,000)	(5,000)					(1,188,000)		(1,188,000)		(5,000)
Reallocation adjustment of limited partners' interest		(38,000)				38,000			38,000		(38,000)
Balance at Jun. 30, 2021	539,782,000	3,146,000	$ 159,541,000	$ 818,000	(13,911,000)	880,491,000	(477,992,000)	(13,636,000)	535,311,000	$ 1,325,000	4,471,000
Balance, shares at Jun. 30, 2021			6,450,000	13,628,000
Balance at Dec. 31, 2021	439,968,000	2,586,000	$ 159,541,000	$ 820,000	(13,266,000)	881,009,000	(582,464,000)	(8,258,000)	437,382,000		2,586,000
Balance, shares at Dec. 31, 2021			6,450,000	13,658,000
Net income (loss)	(1,076,000)	(20,000)					(1,056,000)		(1,056,000)		(20,000)
Unrealized gain (loss) on change in fair value of cash flow hedges	8,338,000	49,000						8,289,000	8,289,000		49,000
Share-based compensation, net	(40,000)			$ (1,000)	2,459,000	(2,498,000)			(40,000)
Share-based compensation, net, shares				(21,000)
Common stock sales, net of issuance expenses	1,000					1,000			1,000
Preferred stock dividends	(2,688,000)						(2,688,000)		(2,688,000)
Distributions to common shareholders/noncontrolling interests	(905,000)	(5,000)					(900,000)		(900,000)		(5,000)
Reallocation adjustment of limited partners' interest		4,000				(4,000)			(4,000)		4,000
Balance at Mar. 31, 2022	443,598,000	2,614,000	$ 159,541,000	$ 819,000	(10,807,000)	878,508,000	(587,108,000)	31,000	440,984,000		2,614,000
Balance, shares at Mar. 31, 2022			6,450,000	13,637,000
Balance at Dec. 31, 2021	439,968,000	2,586,000	$ 159,541,000	$ 820,000	(13,266,000)	881,009,000	(582,464,000)	(8,258,000)	437,382,000		2,586,000
Balance, shares at Dec. 31, 2021			6,450,000	13,658,000
Unrealized gain (loss) on change in fair value of cash flow hedges	11,452,000
Balance at Jun. 30, 2022	399,822,000	1,494,000	$ 159,541,000	$ 814,000	(10,760,000)	877,981,000	(632,383,000)	3,135,000	398,328,000		1,494,000
Balance, shares at Jun. 30, 2022			6,450,000	13,558,000
Balance at Mar. 31, 2022	443,598,000	2,614,000	$ 159,541,000	$ 819,000	(10,807,000)	878,508,000	(587,108,000)	31,000	440,984,000		2,614,000
Balance, shares at Mar. 31, 2022			6,450,000	13,637,000
Net income (loss)	(42,763,000)	(176,000)					(42,587,000)		(42,587,000)		(176,000)
Unrealized gain (loss) on change in fair value of cash flow hedges	3,114,000	10,000						3,104,000	3,104,000		10,000
Share-based compensation, net	287,000			$ (5,000)	47,000	245,000			287,000
Share-based compensation, net, shares				(79,000)
Purchase/Redemption of OP Units	(726,000)	(726,000)									(726,000)
Preferred stock dividends	(2,688,000)						(2,688,000)		(2,688,000)
Acquisition of minority interests	(1,000,000)					(1,000,000)			(1,000,000)
Reallocation adjustment of limited partners' interest		(228,000)				228,000			228,000		(228,000)
Balance at Jun. 30, 2022	$ 399,822,000	$ 1,494,000	$ 159,541,000	$ 814,000	$ (10,760,000)	$ 877,981,000	$ (632,383,000)	$ 3,135,000	$ 398,328,000		$ 1,494,000
Balance, shares at Jun. 30, 2022			6,450,000	13,558,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended		14 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022
OPERATING ACTIVITIES
Net (loss) income	$ (42,763,000)	$ 51,464,000	$ (43,839,000)	$ 52,717,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Gain on sales				(49,904,000)
Impairment charges (reversal)			16,829,000	(1,849,000)
Straight-line rents and expenses, net			(4,000)	(305,000)
Provision for doubtful accounts			840,000	502,000
Depreciation and amortization			15,066,000	21,468,000
Amortization of intangible lease liabilities, net			(506,000)	(539,000)
Expense relating to share-based compensation, net			823,000	1,926,000
Amortization of deferred financing costs			440,000	748,000
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Rents and other receivables			(1,006,000)	(591,000)
Prepaid expenses and other			3,659,000	1,276,000
Accounts payable and accrued liabilities			23,780,000	(645,000)
Net cash provided by operating activities			16,082,000	24,804,000
INVESTING ACTIVITIES
Expenditures for real estate improvements			(16,932,000)	(13,762,000)
Net proceeds from sales of real estate			31,866,000	104,497,000
Contributions to unconsolidated joint venture			(155,000)	(2,481,000)	$ (4,800,000)
Net cash provided by investing activities			14,779,000	88,254,000
FINANCING ACTIVITIES
Repayments under revolving credit facility			(29,000,000)	(183,000,000)
Advances under revolving credit facility			4,000,000	20,000,000
Repayment of term note				(50,000,000)
Termination payment related to interest rate swap				(503,000)
Mortgage proceeds				114,000,000
Mortgage repayments			(571,000)	(548,000)
Payments of debt financing costs			(6,000)	(1,620,000)
Noncontrolling interests:
Distributions to limited partners			(5,000)	(10,000)
Acquisition of joint venture minority interest share			(1,000,000)
Redemption of OP units				(8,000)
Common stock sales less issuance expenses, net				2,000
Preferred stock dividends			(5,376,000)	(5,376,000)
Distributions to common shareholders			(900,000)	(1,799,000)
Net cash used in financing activities			(32,858,000)	(108,862,000)
Net (decrease) increase in cash, cash equivalents and restricted cash			(1,997,000)	4,196,000
Cash, cash equivalents and restricted cash at beginning of period			3,269,000	1,637,000
Cash, cash equivalents and restricted cash at end of period	1,272,000	5,833,000	1,272,000	5,833,000	1,272,000
Reconciliation to consolidated balance sheets:
Cash and cash equivalents	1,042,000	5,603,000	1,042,000	5,603,000	1,042,000
Restricted cash	230,000	230,000	230,000	230,000	230,000
Cash, cash equivalents and restricted cash at end of period	$ 1,272,000	$ 5,833,000	$ 1,272,000	$ 5,833,000	$ 1,272,000

Business and Organization

Business and Organization	6 Months Ended
	Jun. 30, 2022
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, 2022, the Company owned and managed a portfolio of 17 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, 2022, the Company owned a 99.6% general and limited partnership interest in, and was the sole general partner of, the Operating Partnership. The limited partners’ interest in the Operating Partnership (0.4% at June 30, 2022) is represented by partnership units in the Operating Partnership (“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 49,000 OP Units outstanding at June 30, 2022 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. Transaction Agreements On March 2, 2022, the Company announced that following its previously announced review of strategic alternatives, it had entered into definitive agreements for the sale of the Company and its assets in a series of related all-cash transactions. Specifically, on March 2, 2022, the Company and certain of its subsidiaries, DRA Fund X-B LLC and KPR Centers LLC (together with their respective designees, the “Grocery-Anchored Purchasers”) entered into an asset purchase and sale agreement (the “Asset Purchase Agreement”), pursuant to which the Grocery-Anchored Purchasers will acquire a portfolio of 33 grocery-anchored shopping centers from the Company for a cash purchase price of $840.0 million (the “Grocery-Anchored Portfolio Sale”). The Asset Purchase Agreement provides that to the extent specified redevelopment assets (Riverview Plaza, East River Park and Senator Square, which have been classified as “real estate held for sale” as of March 31, 2022) of the Company are not sold by the Company to third parties prior to the closing of the Grocery-Anchored Portfolio Sale, these assets will be acquired by the Grocery-Anchored Purchasers for an additional cash purchase price of up to $80.5 million. In addition, on March 2, 2022, the Company entered into an agreement and plan of merger (the “Merger Agreement”) with Wheeler Real Estate Investment Trust, Inc. (“Wheeler”) and certain of its affiliates pursuant to which, following closing of the Grocery-Anchored Portfolio Sale, Wheeler will acquire the balance of the Company’s shopping center assets by way of an all-cash merger transaction that values the remaining portfolio at $291.3 million. Following completion of the transactions contemplated by the Merger Agreement, the Company will survive as a wholly-owned subsidiary of Wheeler. The Company’s currently outstanding 7.25% Series B Preferred Stock and 6.50% Series C Preferred Stock will remain outstanding as shares of preferred stock in the surviving company following the transactions and are expected to remain listed on the New York Stock Exchange. The transactions contemplated by the Asset Purchase Agreement and the Merger Agreement are collectively referred to as the “Transactions”. The Transactions were unanimously approved by the Company’s Board of Directors (the “Board”) and were approved by the Company’s common stockholders at a special meeting of stockholders held on May 27, 2022, and are estimated to generate total net proceeds, after all transaction expenses, of approximately $29.00 per share in cash, which will be distributed to shareholders upon completion of the Merger. The Merger is expected to close in August 2022, subject to satisfaction of customary closing conditions. On July 7, 2022, the Company and certain of its subsidiaries completed the Grocery-Anchored Portfolio Sale and East River Park and Senator Square sales for total gross proceeds of approximately $879 million, including the assumed debt. There were no material relationships among the Company, the Grocery-Anchored Purchasers, or any of their respective affiliates. In connection with the transactions discussed above, the Company incurred transaction costs of $34.2 million for the six months ended June 30, 2022, included in the accompanying consolidated statement of operations, of which $23.6 million relates to future employee severance payments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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, 2021. 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. Certain prior year amounts in the consolidated financial statements and notes thereto have been reclassified to conform to current year presentation. Supplemental Consolidated Statements of Cash Flows Information Six months ended June 30, 2022 2021 Supplemental disclosure of cash activities: Cash paid for interest $ 9,419,000 $ 10,547,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 1,035,000 1,555,000 Buildings and improvements included in accounts payable and accrued liabilities 3,764,000 1,224,000 Recently Issued and Adopted Accounting Pronouncements In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of a novel strain of coronavirus (“COVID-19”). Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under ASC 842. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company is evaluating its election on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. During the three and six months ended June 30, 2022, the Company provided lease concessions to certain tenants in response to the impact of COVID-19, in the form of rent deferrals. The Company has made an election to account for such lease concessions consistent with how those concessions would be accounted for under ASC 842 if enforceable rights and obligations for those concessions had already existed in the leases. This election is available for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in our rights as lessor, including concessions that result in the total payments required by the modified lease being substantially the same as or less than total payments required by the original lease. Substantially all of the Company’s concessions to date provide for a deferral of payments with no substantive changes to the consideration in the original lease. These deferrals affect the timing, but not the amount, of the lease payments. The Company is accounting for these deferrals as if no changes to the lease were made. Under this accounting, the Company increases its receivables as tenant payments accrue and continues to recognize rental income. Through June 30 , 2022 , t he Company has entered into lease modifications that deferred approximately $ million, of which $ million relates to deferrals that the Company continued to recognize rental income. In addition, through June 30 , 2022 , the Company has entered into agreements that waived approximately $ 2.4 million of rent. As of June 30, 2022, less than $ 0.1 million of the $ 3.5 million deferred lease modifications remain outstanding.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Real Estate	Note 3. Real Estate Investment in Unconsolidated Joint Venture On May 5, 2021, the Company formed a joint venture with Goldman Sachs Urban Investment Group and Asland Capital Partners (the “Joint Venture”) for the construction of an approximately 258,000 square foot six-story commercial building in Washington, D.C. consisting of approximately 240,000 square feet of office space which is 100% leased to the Washington, D.C., Department of General Services (“DGS”) for its headquarters and approximately 18,000 square feet of street-level retail. The term of the lease with DGS is for 20 years and 10 months, to commence upon substantial completion and delivery to the DGS. This building is planned as the first phase of Northeast Heights, a redevelopment of two existing shopping centers, East River Park and Senator Square, into a mixed-use residential, office and retail property. Further, the Joint Venture has secured construction financing from JP Morgan not to exceed $105 million. The construction loan initially bears interest at LIBOR plus 200 basis points and has an initial term of three years with two, one-year extension options subject to customary conditions. The Company has a 10% interest in the joint venture and is a co-general partner along with Asland Capital Partners. The Company has contributed approximately $4.8 million of capital to the Joint Venture as of June 30, 2022. The Company sold approximately $8.0 million of development costs to the Joint Venture as part of its formation on May 5, 2021. The Joint Venture currently estimates that the space will be delivered during the end of the fourth quarter 2022. Upon completion of the building, DGS will be obligated to pay initial annual net rent of approximately $5.4 million per year, subject to a 2.5% annual escalator on each anniversary of rent commencement, plus certain operating costs, property taxes and amortization of tenant improvements together totaling approximately an additional $8.1 million per year, for an aggregate total annual rent of approximately $13.5 million. The lease provides for a free rent period of 10 months immediately following rent commencement. The Lease also provides DGS with a tenant credit of approximately $6.8 million to be applied, at DGS’s election, against either annual rent or any other tenant payment obligations including tenant improvement costs, in excess of the tenant improvement allowance. Pursuant to the lease, the Joint Venture will contribute up to $155 per rentable square foot toward the cost of tenant improvements, to be amortized over 240 months. In addition, the lease provides that the Joint Venture will contribute $9.38 per rentable square foot in additional tenant improvement allowance between the 10th and 12th lease years, upon DGS’s timely election. The obligations of DGS under the Lease are subject to annual budget appropriation. Acquisitions On June 28, 2022, the Company acquired the 40% minority ownership percentage in the Crossroads joint venture for $1.0 million. Crossroads was included in the Grocery-Anchored Portfolio Sale that occurred on July 7, 2022. Dispositions The following table shows the property disposition during the six months ended June 30, 2022: Date Sales Disposition Location GLA Sold Price Impairment Riverview Plaza Philadelphia, PA 108,902 5/16/2022 $ 34,000,000 $ (199,000 ) The impairment is included in operating (loss) income in the accompanying consolidated statement of operations. Real Estate Held for Sale As of June 30, 2022, Carll’s Corner, located in Bridgeton, New Jersey, the 33 grocery-anchored shopping centers and two redevelopment properties have been classified as “real estate held for sale” on the accompanying consolidated balance sheet. Discontinued Operations On July 7, 2022, the Company and certain of its subsidiaries completed the Grocery-Anchored Portfolio Sale and East River Park and Senator Square sales for total gross proceeds of approximately $879 million, including the assumed debt. The Grocery-Anchored Portfolio Sale represents a strategic shift and will have a material effect on the Company’s operations and financial results, and, therefore, the Company has determined that it is deemed a discontinued operation. Accordingly, the portfolio of 33 grocery-anchored shopping centers have been classified as held for sale and the results of their operations have been classified as discontinued operations for all periods presented herein. With the reclass to held for sale, there were additional impairments of $16.1 million recorded during the second quarter of 2022. Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 REVENUES Rental revenues $ 21,546,000 $ 21,277,000 $ 43,677,000 $ 43,771,000 Other 102,000 99,000 157,000 221,000 Total revenues 21,648,000 21,376,000 43,834,000 43,992,000 EXPENSES Operating, maintenance and management 5,108,000 4,454,000 10,441,000 9,916,000 Real estate and other property-related taxes 3,278,000 3,229,000 6,534,000 6,491,000 General and administrative 91,000 (223,000 ) 151,000 (99,000 ) Depreciation and amortization 3,964,000 7,281,000 9,726,000 15,031,000 Total expenses 12,441,000 14,741,000 26,852,000 31,339,000 OPERATING INCOME 9,207,000 6,635,000 16,982,000 12,653,000 NON-OPERATING INCOME AND EXPENSES Interest expense (1,509,000 ) (1,182,000 ) (3,036,000 ) (1,709,000 ) Total non-operating income and expenses (1,509,000 ) (1,182,000 ) (3,036,000 ) (1,709,000 ) INCOME FROM DISCONTINUED OPERATIONS 7,698,000 5,453,000 13,946,000 10,944,000 Impairment charges (16,119,000 ) - (16,630,000 ) - Gain on sales - - - 1,047,000 TOTAL (LOSS) INCOME FROM DISCONTINUED OPERATIONS $ (8,421,000 ) $ 5,453,000 $ (2,684,000 ) $ 11,991,000 Net cash provided by operations from discontinued operations was $25.4 million and $25.3 million for the six months ended June 30, 2022 and 2021, respectively. Net cash used in investing activities from discontinued operations was $16.0 million and $9.7 million for the six months ended June 30, 2022 and 2021, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
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 deferred 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 maturities. As of June 30, 2022 and December 31, 2021, the fair value of the Company’s fixed rate mortgage loan payable, which was determined to be Level 3 within the valuation hierarchy, was $146.4 million and $159.0 million, respectively; the carrying value of such loan was $156.4 million and $156.8 million, respectively. As of June 30, 2022 and December 31, 2021, respectively, the aggregate fair values of the Company’s unsecured revolving credit facility and term loans approximated the carrying values. In addition, the fair values of the Company’s mortgage note receivable and finance lease obligation, which were determined to be Level 3 within the valuation hierarchy, approximated their carrying values as of June 30 , 2022 and December 31, 2021 , respectively. The valuations of the 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, 2022, 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. The following tables show the hierarchy for those assets measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, respectively: June 30, 2022 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 698,000 $ — $ — $ 698,000 Interest rate swaps assets (a) $ — $ 3,176,000 $ — $ 3,176,000 Deferred compensation liabilities (b) $ 713,000 $ — $ — $ 713,000 Interest rate swaps liability (b) $ — $ 20,000 $ — $ 20,000 December 31, 2021 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 955,000 $ — $ — $ 955,000 Deferred compensation liabilities (b) $ 982,000 $ — $ — $ 982,000 Interest rate swaps liability (b) $ — $ 8,232,000 $ — $ 8,232,000 (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, 2022, real estate held for sale on the consolidated balance sheet consisted of thirty-six retail properties, totaling $719.3 million, which were determined to be Level 2 assets under the hierarchy, for which the carrying value was below its fair value.

Mortgage Loans Payable and Unse

Mortgage Loans Payable and Unsecured Credit Facility	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Mortgage Loans Payable and Unsecured Credit Facility	Note 5. Mortgage Loans Payable and Unsecured Credit Facility Debt and finance lease obligations are composed of the following at June 30, 2022: June 30, 2022 Contractual Maturity Balance interest rates Description dates outstanding weighted-average Fixed-rate mortgage and finance lease obligation- held for sale Franklin Village Jun 2026 $ 44,018,000 3.9% Shops at Suffolk Downs (a) Jun 2031 15,600,000 3.5% Trexlertown Plaza (a) Jun 2031 36,100,000 3.5% The Point (a) Jun 2031 29,700,000 3.5% Christina Crossing (a) Jun 2031 17,000,000 3.5% Lawndale Plaza (a) Jun 2031 15,600,000 3.5% Senator Square finance lease obligation Sep 2050 5,578,000 5.3% 163,596,000 3.6% Unsecured credit facilities: Variable-rate: Revolving credit facility (b) Aug 2024 41,000,000 3.1% Fixed-rate (c): 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% Term loan Aug 2026 50,000,000 3.3% 504,596,000 3.7% Unamortized issuance costs (2,848,000 ) $ 501,748,000 (a) The mortgages for these properties are cross-collateralized. (b) The revolving credit facility is subject to two one-year (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. Unsecured Revolving Credit Facility and Term Loans On August 30, 2021, the Company amended its existing $300 million unsecured credit facility and $50 million term loan. After the amendment, the new unsecured revolving credit facility is $185 million with an expiration in August 2024 one-year August 2026 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. 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. Although the credit facility is unsecured, borrowing availability is based on unencumbered property adjusted net operating income for the trailing twelve months, as defined in the agreements. As of June 30, 2022, the Company had $41.0 million outstanding under its revolving credit facility. The unsecured credit facility and term notes were paid off on July 11, 2022, in connection with the Grocery-Anchored Portfolio Sale. Mortgage Loans Payable On May 5, 2021, the Company closed a non-recourse mortgage for $114.0 million. The mortgage matures June 1, 2031, bears interest at a fixed-rate of 3.49% and requires payment of interest only for the first five years followed by payments of principal and interest based on thirty-year amortization for the remainder of the term. The loan is secured by five shopping centers consisting of Lawndale Plaza, The Shops at Suffolk Downs, Christina Crossing, Trexlertown Plaza, and The Point. These properties had no pre-existing debt and the proceeds from this new loan were used to reduce amounts outstanding under the Company’s revolving credit facility. The mortgage loans payable were assumed by the Grocery-Anchored Purchasers. Derivative Financial Instruments The fair values of the interest rate swaps applicable to the unsecured term loans discussed above are included in accounts payable and accrued liabilities on the consolidated balance sheet at June 30, 2022. 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 following is a summary of the derivative financial instruments held by the Company at June 30, 2022 and December 31, 2021: June 30, 2022 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 4 $ 3,176,000 2023-2025 Other assets and deferred charges, net Qualifying Interest rate swaps 1 $ 20,000 2023-2025 Accounts payable and accrued liabilities December 31, 2021 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 5 $ 8,232,000 2023-2025 Accounts payable and accrued liabilities The notional values of the interest rate swaps held by the Company at June 30, 2022 and December 31, 2021 were $300.0 million in each period. The interest rate swaps were terminated as part of the Grocery-Anchored Portfolio Sale for a $3.4 million benefit. 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, 2022 and 2021, respectively: Gain (loss) recognized in other comprehensive (loss) income (effective portion) Designation/ Three months ended June 30, Six months ended June 30, Cash flow Derivative 2022 2021 2022 2021 Qualifying Interest rate swaps $ 2,156,000 $ (637,000 ) $ 9,132,000 $ 1,756,000 (Loss) recognized in other comprehensive (loss) income reclassified into earnings (effective portion) Three months ended June 30, Six months ended June 30, Classification 2022 2021 2022 2021 Continuing Operations $ (958,000 ) $ (1,656,000 ) $ (2,320,000 ) $ (3,460,000 ) As of June 30, 2022 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, 2022
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 agreement. As of June 30, 2022, the Company’s weighted average remaining lease term is approximately 49.3 years and the weighted average discount rate used to calculate the Company’s lease liability is approximately 8.6%. Rent expense under the Company’s ground lease and executive office lease agreements was approximately $0.1 million and $0.3 million for the three months ended June 30, 2022 and 2021, respectively. Rent expense under the Company’s ground lease and executive office lease agreements was approximately $0.2 million and $0.7 million for the six months ended June 30, 2022 and 2021, respectively. As a result of COVID-19, the Company has received numerous rent relief requests, most often in the form of rent deferrals. The Company has evaluated, and continues to evaluate, each tenant rent relief request on an individual basis, considering a number of factors. Through June 30, 2022, the Company deferred approximately $3.5 million and waived approximately $2.4 million of rental income, respectively. To date, the weighted average payback period for the remaining deferred rent receivable is approximately 10 months, beginning at various times from July 2020 through June 2021. As described in Note 1, on March 2, 2022, the Company entered into definitive agreements for the Transactions, which contemplate sale of the Company and all of its assets in a series of related all-cash transactions. On April 5, 2022, a purported stockholder of the Company filed a complaint against the Company and the Board in the United States District Court for the Eastern District of New York, entitled Stein v. Cedar Realty Trust, Inc. et. al. Wang v. Cedar Realty Trust, Inc. et. al. Whitfield v. Cedar Realty Trust, Inc. et. al. Waterman v. Cedar Realty Trust, Inc. et. al. Thornburgh v. Cedar Realty Trust, Inc. et. al. On April 8, 2022, several purported holders of the Company’s outstanding preferred stock filed a putative class action complaint against the Company, the Board, and Wheeler in Montgomery County Circuit Court, Maryland entitled Sydney, et al. v. Cedar Realty Trust, Inc., et al. , On May 6, 2022, plaintiffs in the Sydney action filed an amended complaint. The amended complaint alleges on behalf of a putative class of holders of the Company’s preferred stock, among other things, against the Company and the Board, claims for breach of contract with respect to the articles supplementary governing the terms of the Company’s preferred stock and breach of fiduciary duty, and, against Wheeler, tortious interference and aiding and abetting breach of fiduciary duty. The Sydney amended complaint seeks, among other things, (i) a declaration that holders of the Company’s preferred stock are entitled to exercise either their liquidation rights or conversion rights as set forth in the articles supplementary, (ii) compensatory damages, (iii) an injunction enjoining the distribution to the Company’s common shareholders of the proceeds of the Grocery-Anchored Portfolio Sale, and (iv) an injunction enjoining the Merger. On May 6, 2022, the plaintiffs in Sydney filed a motion for a preliminary injunction to temporarily enjoin, until the final resolution of the litigation (i) the distribution of the gross proceeds from the Grocery-Anchored Portfolio Sale to the common stockholders, (ii) the closing of the Merger, and (iii) the imposition of a constructive trust over the gross proceeds from both the Grocery Anchored Portfolio Sale and the Merger. Also on May, 6, 2022, a purported holder of the Company’s outstanding preferred stock filed a putative class action complaint against the Company and the Board in the United States District Court for the District of Maryland, entitled Kim v. Cedar Realty Trust, Inc., et al. , Civil Action No. 22-cv-01103. The complaint alleges on behalf of a putative class of holders of the Company’s preferred stock, among other things, claims for declaratory and injunctive relief with respect to the articles supplementary governing the terms of the Company’s preferred stock and breach of fiduciary duty. On May 11, 2022, the Company, the Board of Directors of the Company and Wheeler removed the Sydney action to the United States District Court for the District of Maryland, Case No. 8:22-cv-01142-GLR. On May 16, 2022, the court ordered that a hearing on the Sydney plaintiffs’ motion for preliminary injunction will be held on June 22, 2022. On June 2, 2022, the plaintiffs in Kim filed a motion for a preliminary injunction (i) to require that the Company provide preferred shareholders with a vote to approve the Grocery-Anchored Portfolio Sale and the Merger, and (ii) requiring Cedar disclose to preferred shareholders that the Grocery-Anchored Portfolio Sale and Merger entitled the preferred stockholders to exercise their change of control conversion right. The court agreed to consolidate the Kim plaintiffs’ motion for preliminary injunction with the Sydney plaintiffs’ motion for preliminary injunction, and to hear arguments on both motions at the hearing on June 22, 2022. On June 23, 2022, following a hearing on both the Sydney Kim

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
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, 2022 December 31, 2021 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 Dividends The following table provides a summary of dividends declared and paid per share: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Common stock $ - $ 0.066 $ 0.066 $ 0.132 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 19, 2022, the Company’s Board of Directors 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 22, 2022 to shareholders of record on August 12, 2022.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2022
Revenues [Abstract]
Revenues	Note 8. Revenues Rental revenues for the three and six months ended June 30, 2022 and 2021, respectively, comprise the following: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Base rents $ 5,878,000 $ 7,686,000 $ 11,796,000 $ 15,493,000 Expense recoveries 2,201,000 2,476,000 4,143,000 5,094,000 Percentage rent 146,000 122,000 269,000 363,000 Straight-line rents (19,000 ) 159,000 (87,000 ) 171,000 Amortization of intangible lease liabilities, net 161,000 160,000 322,000 324,000 Total rents $ 8,367,000 $ 10,603,000 $ 16,443,000 $ 21,445,000 The Company reviews the collectability of charges under its tenant operating leases on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located. During 2022 and 2021, the Company’s assessment has specifically included the impact of the COVID-19 pandemic, which represents a material risk to collectability. In the event that collectability with respect to any tenant changes the Company recognizes an adjustment to rental income. The Company’s review of collectability of charges under its operating leases includes any accrued rental revenues related to the straight-line method of reporting rental revenue. The Company identified various tenants where collection was no longer considered probable. The determination to record revenue on a cash basis and write off any outstanding straight-line receivable from these various tenants reduced net income $0.0 million and $0.0 million for the three and six months ended June 30, 2022, respectively. In addition, during the three and six months ended June 30, 2022, respectively, $0.4 million and $0.8 million of billed charges, consisting of rent and tenant reimbursements, were unpaid, and based on the Company’s determination to record revenue on a cash basis for these tenants, these amounts were not recorded as revenue for the three and six months ended June 30, 2022.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2022
Share Based Compensation [Abstract]
Share-Based Compensation	N ote 9. Share-Based Compensation The following tables set forth certain share-based compensation information for the three and six months ended June 30, 2022 and 2021, respectively: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Expense relating to share/unit grants $ 293,000 $ 1,092,000 $ 877,000 $ 2,021,000 Amounts capitalized (12,000 ) (46,000 ) (54,000 ) (95,000 ) Total charged to operations $ 281,000 $ 1,046,000 $ 823,000 $ 1,926,000 Weighted average Shares grant date value Unvested shares/units, December 31, 2021 492,000 $ 23.47 Restricted share grants 7,000 26.31 Vested during period (33,000 ) 24.34 Forfeitures/cancellations (82,000 ) 28.29 Unvested shares/units, June 30, 2022 384,000 $ 22.42 During the six months ended June 30, 2022 there were 7,000 restricted shares issued, with a weighted average grant date fair value of $26.31 per share. President and CEO Employment Contract On June 15, 2018, the Company’s President and CEO was granted a market performance-based equity award of 227,272 restricted stock units (“RSUs”) and 227,272 dividend equivalent rights (“DERs”) of the Company. Each RSU represents a contingent right to receive one common share if certain market performance criteria are achieved. Each DER accrues and will be deemed to be reinvested into the Company’s common stock for which payment will only be made for the portion of the market performance-based equity award that are earned and vest. During the three years ending June 15, 2021 (the “Interim Performance Period”), a maximum of 113,636 shares were earned. Any portion of the market performance-based equity award that was not earned as of the end of the Interim Performance Period will be carried forward for calculation for the five years ending June 15, 2023 (the “Full Performance Period”). The percentage of the market performance-based equity award to be earned will be determined based on the Company’s annual return on an investment in the Company’s common stock (“TSR”) over the Interim Performance Period and/or over the Full Performance Period as follows: if average annual TSR (1) is below 4%, the percentage of grant earned would be 0%, (2) equals 4%, the percentage of grant earned would be 33.3%, (3) equals 6.5%, the percentage of grant earned would be 66.7%, and (4) equals 10% or above, the percentage of grant earned would be 100%. Linear interpolation shall be applied to determine the percentage of the market performance-based equity award that is earned where the average annual TSR over the performance period falls between the percentages set forth above. Based on market performance for the Interim Performance Period, it was determined the Company’s President and CEO earned 113,636 shares. Accordingly, on July 20, 2021, the Company issued 113,636 common shares to the CEO and paid him $0.3 million for the related DERs. The DERs will accrue and will be deemed to be reinvested into the Company’s common stock and payment with respect to the dividend equivalent rights will be deferred until the end of the Interim Performance Period, or the Full Performance Period, as the case may be, to coincide with the vesting, if any, of the market performance-based equity award. Payment will only be made for the portion of the market performance-based equity award that is earned and vests.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
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 and six months ended June 30, 2022, the Company had 0.3 million of weighted average unvested restricted shares outstanding that were participating securities. For the three and six months ended June 30, 2021, the Company had 0.5 million 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, 2022 and 2021: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Numerator Net (loss) income from continuing operations $ (34,342,000 ) $ 46,011,000 $ (41,155,000 ) $ 40,726,000 Preferred stock dividends (2,688,000 ) (2,688,000 ) (5,376,000 ) (5,376,000 ) Net loss (income) attributable to noncontrolling interests 143,000 (377,000 ) 185,000 (480,000 ) Net earnings allocated to unvested shares (18,000 ) (1,878,000 ) (41,000 ) (1,850,000 ) (Loss) income from continuing operations, net of noncontrolling interest, attributable to vested common shares (36,905,000 ) 41,068,000 (46,387,000 ) 33,020,000 Income from discontinued operations, net of noncontrolling interests, attributable to vested common shares (8,388,000 ) 5,421,000 (2,673,000 ) 11,921,000 Net (loss) income attributable to vested common shares $ (45,293,000 ) $ 46,489,000 $ (49,060,000 ) $ 44,941,000 Denominator Weighted average number of vested common shares outstanding, basic and diluted 13,288,000 13,197,000 13,287,000 13,171,000 Net (loss) income per common share attributable to common shareholders (basic and diluted): Continuing operations $ (2.78 ) $ 3.11 $ (3.49 ) $ 2.51 Discontinued operations (0.63 ) 0.41 (0.20 ) 0.90 $ (3.41 ) $ 3.52 $ (3.69 ) $ 3.41 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, 2022 and 2021, 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, 2022, and 2021, respectively, and therefore this market performance-based equity award had no impact in calculation diluted EPS. Net loss (income) 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 65,000 and 73,000 for the three and six months ended June 30, 2022, respectively, and 81,000 for the three and six months ended June 30, 2021.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 11. Subsequent Events In determining subsequent events, management reviewed all activity from July 1, 2022 through the date of filing this Quarterly Report on Form 10-Q. Other than those events disclosed in this report, there were no other 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, 2022
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, 2021. 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. Certain prior year amounts in the consolidated financial statements and notes thereto have been reclassified to conform to current year presentation.
Supplemental Consolidated Statements of Cash Flows Information	Supplemental Consolidated Statements of Cash Flows Information Six months ended June 30, 2022 2021 Supplemental disclosure of cash activities: Cash paid for interest $ 9,419,000 $ 10,547,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 1,035,000 1,555,000 Buildings and improvements included in accounts payable and accrued liabilities 3,764,000 1,224,000
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of a novel strain of coronavirus (“COVID-19”). Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect to not evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under ASC 842. Instead, an entity that elects not to evaluate whether a concession directly related to COVID-19 is a modification can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). Both lessees and lessors may make this election. The Company is evaluating its election on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. During the three and six months ended June 30, 2022, the Company provided lease concessions to certain tenants in response to the impact of COVID-19, in the form of rent deferrals. The Company has made an election to account for such lease concessions consistent with how those concessions would be accounted for under ASC 842 if enforceable rights and obligations for those concessions had already existed in the leases. This election is available for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in our rights as lessor, including concessions that result in the total payments required by the modified lease being substantially the same as or less than total payments required by the original lease. Substantially all of the Company’s concessions to date provide for a deferral of payments with no substantive changes to the consideration in the original lease. These deferrals affect the timing, but not the amount, of the lease payments. The Company is accounting for these deferrals as if no changes to the lease were made. Under this accounting, the Company increases its receivables as tenant payments accrue and continues to recognize rental income. Through June 30 , 2022 , t he Company has entered into lease modifications that deferred approximately $ million, of which $ million relates to deferrals that the Company continued to recognize rental income. In addition, through June 30 , 2022 , the Company has entered into agreements that waived approximately $ 2.4 million of rent. As of June 30, 2022, less than $ 0.1 million of the $ 3.5 million deferred lease modifications remain outstanding.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Supplemental Consolidated Statements of Cash Flows Information	Supplemental Consolidated Statements of Cash Flows Information Six months ended June 30, 2022 2021 Supplemental disclosure of cash activities: Cash paid for interest $ 9,419,000 $ 10,547,000 Supplemental disclosure of non-cash activities: Capitalization of interest and financing costs 1,035,000 1,555,000 Buildings and improvements included in accounts payable and accrued liabilities 3,764,000 1,224,000

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Schedule of Property Disposition	The following table shows the property disposition during the six months ended June 30, 2022: Date Sales Disposition Location GLA Sold Price Impairment Riverview Plaza Philadelphia, PA 108,902 5/16/2022 $ 34,000,000 $ (199,000 )
Summary of Income from Discontinued Operations	The following is a summary of income from discontinued operations: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 REVENUES Rental revenues $ 21,546,000 $ 21,277,000 $ 43,677,000 $ 43,771,000 Other 102,000 99,000 157,000 221,000 Total revenues 21,648,000 21,376,000 43,834,000 43,992,000 EXPENSES Operating, maintenance and management 5,108,000 4,454,000 10,441,000 9,916,000 Real estate and other property-related taxes 3,278,000 3,229,000 6,534,000 6,491,000 General and administrative 91,000 (223,000 ) 151,000 (99,000 ) Depreciation and amortization 3,964,000 7,281,000 9,726,000 15,031,000 Total expenses 12,441,000 14,741,000 26,852,000 31,339,000 OPERATING INCOME 9,207,000 6,635,000 16,982,000 12,653,000 NON-OPERATING INCOME AND EXPENSES Interest expense (1,509,000 ) (1,182,000 ) (3,036,000 ) (1,709,000 ) Total non-operating income and expenses (1,509,000 ) (1,182,000 ) (3,036,000 ) (1,709,000 ) INCOME FROM DISCONTINUED OPERATIONS 7,698,000 5,453,000 13,946,000 10,944,000 Impairment charges (16,119,000 ) - (16,630,000 ) - Gain on sales - - - 1,047,000 TOTAL (LOSS) INCOME FROM DISCONTINUED OPERATIONS $ (8,421,000 ) $ 5,453,000 $ (2,684,000 ) $ 11,991,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and December 31, 2021, respectively: June 30, 2022 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 698,000 $ — $ — $ 698,000 Interest rate swaps assets (a) $ — $ 3,176,000 $ — $ 3,176,000 Deferred compensation liabilities (b) $ 713,000 $ — $ — $ 713,000 Interest rate swaps liability (b) $ — $ 20,000 $ — $ 20,000 December 31, 2021 Description Level 1 Level 2 Level 3 Total Investments related to deferred compensation liabilities (a) $ 955,000 $ — $ — $ 955,000 Deferred compensation liabilities (b) $ 982,000 $ — $ — $ 982,000 Interest rate swaps liability (b) $ — $ 8,232,000 $ — $ 8,232,000 (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 Un_2

Mortgage Loans Payable and Unsecured Credit Facility (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt and Finance Lease Obligations Related to Continuing Operations	Debt and finance lease obligations are composed of the following at June 30, 2022: June 30, 2022 Contractual Maturity Balance interest rates Description dates outstanding weighted-average Fixed-rate mortgage and finance lease obligation- held for sale Franklin Village Jun 2026 $ 44,018,000 3.9% Shops at Suffolk Downs (a) Jun 2031 15,600,000 3.5% Trexlertown Plaza (a) Jun 2031 36,100,000 3.5% The Point (a) Jun 2031 29,700,000 3.5% Christina Crossing (a) Jun 2031 17,000,000 3.5% Lawndale Plaza (a) Jun 2031 15,600,000 3.5% Senator Square finance lease obligation Sep 2050 5,578,000 5.3% 163,596,000 3.6% Unsecured credit facilities: Variable-rate: Revolving credit facility (b) Aug 2024 41,000,000 3.1% Fixed-rate (c): 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% Term loan Aug 2026 50,000,000 3.3% 504,596,000 3.7% Unamortized issuance costs (2,848,000 ) $ 501,748,000 (a) The mortgages for these properties are cross-collateralized. (b) The revolving credit facility is subject to two one-year (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.
Summary of Derivative Financial Instruments Held	The following is a summary of the derivative financial instruments held by the Company at June 30, 2022 and December 31, 2021: June 30, 2022 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 4 $ 3,176,000 2023-2025 Other assets and deferred charges, net Qualifying Interest rate swaps 1 $ 20,000 2023-2025 Accounts payable and accrued liabilities December 31, 2021 Designation/ Fair Maturity Balance sheet Cash flow Derivative Count value dates location Qualifying Interest rate swaps 5 $ 8,232,000 2023-2025 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, 2022 and 2021, respectively: Gain (loss) recognized in other comprehensive (loss) income (effective portion) Designation/ Three months ended June 30, Six months ended June 30, Cash flow Derivative 2022 2021 2022 2021 Qualifying Interest rate swaps $ 2,156,000 $ (637,000 ) $ 9,132,000 $ 1,756,000 (Loss) recognized in other comprehensive (loss) income reclassified into earnings (effective portion) Three months ended June 30, Six months ended June 30, Classification 2022 2021 2022 2021 Continuing Operations $ (958,000 ) $ (1,656,000 ) $ (2,320,000 ) $ (3,460,000 )

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 2021 2022 2021 Common stock $ - $ 0.066 $ 0.066 $ 0.132 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, 2022 December 31, 2021 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, 2022
Revenues [Abstract]
Schedule of Rental Revenues	Rental revenues for the three and six months ended June 30, 2022 and 2021, respectively, comprise the following: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Base rents $ 5,878,000 $ 7,686,000 $ 11,796,000 $ 15,493,000 Expense recoveries 2,201,000 2,476,000 4,143,000 5,094,000 Percentage rent 146,000 122,000 269,000 363,000 Straight-line rents (19,000 ) 159,000 (87,000 ) 171,000 Amortization of intangible lease liabilities, net 161,000 160,000 322,000 324,000 Total rents $ 8,367,000 $ 10,603,000 $ 16,443,000 $ 21,445,000

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and 2021, respectively: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Expense relating to share/unit grants $ 293,000 $ 1,092,000 $ 877,000 $ 2,021,000 Amounts capitalized (12,000 ) (46,000 ) (54,000 ) (95,000 ) Total charged to operations $ 281,000 $ 1,046,000 $ 823,000 $ 1,926,000 Weighted average Shares grant date value Unvested shares/units, December 31, 2021 492,000 $ 23.47 Restricted share grants 7,000 26.31 Vested during period (33,000 ) 24.34 Forfeitures/cancellations (82,000 ) 28.29 Unvested shares/units, June 30, 2022 384,000 $ 22.42

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
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, 2022 and 2021: Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Numerator Net (loss) income from continuing operations $ (34,342,000 ) $ 46,011,000 $ (41,155,000 ) $ 40,726,000 Preferred stock dividends (2,688,000 ) (2,688,000 ) (5,376,000 ) (5,376,000 ) Net loss (income) attributable to noncontrolling interests 143,000 (377,000 ) 185,000 (480,000 ) Net earnings allocated to unvested shares (18,000 ) (1,878,000 ) (41,000 ) (1,850,000 ) (Loss) income from continuing operations, net of noncontrolling interest, attributable to vested common shares (36,905,000 ) 41,068,000 (46,387,000 ) 33,020,000 Income from discontinued operations, net of noncontrolling interests, attributable to vested common shares (8,388,000 ) 5,421,000 (2,673,000 ) 11,921,000 Net (loss) income attributable to vested common shares $ (45,293,000 ) $ 46,489,000 $ (49,060,000 ) $ 44,941,000 Denominator Weighted average number of vested common shares outstanding, basic and diluted 13,288,000 13,197,000 13,287,000 13,171,000 Net (loss) income per common share attributable to common shareholders (basic and diluted): Continuing operations $ (2.78 ) $ 3.11 $ (3.49 ) $ 2.51 Discontinued operations (0.63 ) 0.41 (0.20 ) 0.90 $ (3.41 ) $ 3.52 $ (3.69 ) $ 3.41

Business and Organization (Deta

Business and Organization (Details)			3 Months Ended	6 Months Ended
	Jul. 07, 2022 USD ($)	Mar. 02, 2022 USD ($) property $ / shares	Jun. 30, 2022 USD ($) property shares	Jun. 30, 2022 USD ($) property shares
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Number of properties | property			17	17
OP units outstanding | shares			49,000	49,000
Transaction costs			$ 30,457,000	$ 34,192,000
Discontinued Operations [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Transaction costs				34,200,000
Future employee severance costs				$ 23,600,000
Discontinued Operations [Member] | Subsequent Event [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Proceeds from sale of grocery-anchored shopping centers	$ 879,000,000
Series B Preferred Stock [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Preferred stock outstanding percentage		7.25%
Series C Preferred Stock [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Preferred stock outstanding percentage		6.50%
Asset Purchase Agreement [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Number of properties | property		33
Proceeds from sale of grocery-anchored shopping centers		$ 840,000,000
Transactions [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Distribution to shareholders, per share in cash | $ / shares		$ 29
Additional Asset Purchase [Member] | Asset Purchase Agreement [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Proceeds from sale of grocery-anchored shopping centers		$ 80,500,000
Remaining Assets [Member] | Asset Purchase Agreement [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Proceeds from sale of grocery-anchored shopping centers		$ 291,300,000
Cedar Realty Trust Partnership L.P [Member]
Consolidation Less Than Wholly Owned Subsidiary Parent Ownership Interest Effects Of Changes Net [Line Items]
Company's interest in Operating Partnership				99.60%
Limited partners' interest in Operating Partnership				0.40%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Supplemental Consolidated Statements of Cash Flows Information) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Supplemental disclosure of cash activities:
Cash paid for interest	$ 9,419,000	$ 10,547,000
Supplemental disclosure of non-cash activities:
Capitalization of interest and financing costs	1,035,000	1,555,000
Buildings and improvements included in accounts payable and accrued liabilities	$ 3,764,000	$ 1,224,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Lease rent deferred	$ 3.5
Lease rent deferrals continued to recognize rental income	2.4
Lease rent waived	2.4
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Lease rent deferred outstanding	$ 0.1

Real Estate (Narrative) (Detail

Real Estate (Narrative) (Details)				3 Months Ended	6 Months Ended		14 Months Ended
	Jul. 07, 2022 USD ($)	Jun. 28, 2022 USD ($)	May 05, 2021 USD ($) ft² ShoppingCenter $ / ft²	Jun. 30, 2022 USD ($) property	Jun. 30, 2022 USD ($) property	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) property
Real Estate Properties [Line Items]
Contributed capital to joint venture					$ 155,000	$ 2,481,000	$ 4,800,000
Number of properties | property				17	17		17
Impairment charges				$ 16,119,000	$ 16,630,000
Net cash provided by operations from discontinued operations					25,400,000	25,300,000
Net cash used in investing activities from discontinued operations					$ 16,000,000	$ 9,700,000
Discontinued Operations [Member]
Real Estate Properties [Line Items]
Impairment charges				$ 16,100,000
Discontinued Operations [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Gross proceeds from sale of real estate	$ 879,000,000
Crossroads [Member]
Real Estate Properties [Line Items]
Minority ownership percentage		40%
Purchase price		$ 1,000,000
Investment in Unconsolidated Joint Venture [Member]
Real Estate Properties [Line Items]
Area of commercial building | ft²			258,000
Area of commercial space leased percentage			100%
Term of lease			20 years 10 months
Number of redevelopment of existing shopping centers | ShoppingCenter			2
Initial term of construction loan			3 years
Percentage of interest in joint venture			10%
Development cost sold to Joint Venture			$ 8,000,000
Initial annual net rent amount to be paid upon completion of building			$ 5,400,000
Annual escalator percentage to be paid on each anniversary of rent commencement			2.50%
Operating costs, property taxes and amortization of tenant improvements			$ 8,100,000
Annual net rent amount to be paid upon completion of building			$ 13,500,000
Free rent period			10 months
Tenant credit against either annual rent or any other tenant payment obligations including tenant improvement costs, in excess of tenant improvement allowance			$ 6,800,000
Amortized over period			240 months
Investment in Unconsolidated Joint Venture [Member] | Between the 10th and 12th Lease Years [Member]
Real Estate Properties [Line Items]
Additional per rentable square foot tenant improvement allowance to be contributed | $ / ft²			9.38
Investment in Unconsolidated Joint Venture [Member] | Maximum [Member]
Real Estate Properties [Line Items]
Construction financing maximum amount			$ 105,000,000
Joint venture contribution to be made per rentable square foot toward cost of tenant improvements | $ / ft²			155
Investment in Unconsolidated Joint Venture [Member] | LIBOR Rate [Member]
Real Estate Properties [Line Items]
Construction loan initial interest			LIBOR plus 200 basis
Basis spread on borrowings variable rate			200%
Investment in Unconsolidated Joint Venture [Member] | Office Space [Member]
Real Estate Properties [Line Items]
Area of commercial building | ft²			240,000
Investment in Unconsolidated Joint Venture [Member] | Street-Level Retail [Member]
Real Estate Properties [Line Items]
Area of commercial building | ft²			18,000
Grocery-Anchored Shopping Center [Member]
Real Estate Properties [Line Items]
Number of properties | property				33	33		33
Grocery-Anchored Shopping Center [Member] | Discontinued Operations [Member]
Real Estate Properties [Line Items]
Number of properties | property				33	33		33
Redevelopment Properties [Member]
Real Estate Properties [Line Items]
Number of properties | property				2	2		2

Real Estate (Schedule of Proper

Real Estate (Schedule of Property Disposition) (Details) - Riverview Plaza [Member] - Disposal Group, Held-for-sale, Not Discontinued Operations [Member]	6 Months Ended
	Jun. 30, 2022 USD ($) ft²
Real Estate Properties [Line Items]
Location	Philadelphia, PA
GLA | ft²	108,902
Date Sold	May 16, 2022
Sales Price	$ 34,000,000
Impairment	$ (199,000)

Real Estate (Summary of Income

Real Estate (Summary of Income from Discontinued Operations) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
REVENUES
Rental revenues	$ 21,546,000	$ 21,277,000	$ 43,677,000	$ 43,771,000
Other	102,000	99,000	157,000	221,000
Total revenues	21,648,000	21,376,000	43,834,000	43,992,000
EXPENSES
Operating, maintenance and management	5,108,000	4,454,000	10,441,000	9,916,000
Real estate and other property-related taxes	3,278,000	3,229,000	6,534,000	6,491,000
General and administrative	91,000	(223,000)	151,000	(99,000)
Depreciation and amortization	3,964,000	7,281,000	9,726,000	15,031,000
Total expenses	12,441,000	14,741,000	26,852,000	31,339,000
OPERATING INCOME	9,207,000	6,635,000	16,982,000	12,653,000
NON-OPERATING INCOME AND EXPENSES
Interest expense	(1,509,000)	(1,182,000)	(3,036,000)	(1,709,000)
Total non-operating income and expenses	(1,509,000)	(1,182,000)	(3,036,000)	(1,709,000)
INCOME FROM DISCONTINUED OPERATIONS	7,698,000	5,453,000	13,946,000	10,944,000
Impairment charges	(16,119,000)		(16,630,000)
Gain on sales				1,047,000
Total (loss) income from discontinued operations	$ (8,421,000)	$ 5,453,000	$ (2,684,000)	$ 11,991,000

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details)	Jun. 30, 2022 USD ($) property	Dec. 31, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of fixed rate mortgage loans payable	$ 146,400,000	$ 159,000,000
Carrying value of fixed rate mortgage payable	$ 156,400,000	156,800,000
Number of properties | property	17
Real estate held for sale	$ 719,312,000	$ 757,037,000
Level 2 [Member] | Assets [Member] | Retail Properties [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties | property	36
Real estate held for sale	$ 719,300,000

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, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments related to deferred compensation liabilities	$ 698,000	$ 955,000
Interest rate swaps assets	3,176,000
Deferred compensation liabilities	713,000	982,000
Interest rate swaps liability	20,000	8,232,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments related to deferred compensation liabilities	698,000	955,000
Deferred compensation liabilities	713,000	982,000
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps assets	3,176,000
Interest rate swaps liability	$ 20,000	$ 8,232,000

Mortgage Loans Payable and Un_3

Mortgage Loans Payable and Unsecured Credit Facility (Schedule of Debt and Finance Lease Obligations Related to Continuing Operations) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Credit facilities	$ 41,000,000	$ 66,000,000
Unamortized issuance costs	(2,848,000)
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facilities	41,000,000
Continuing Operations [Member]
Debt Instrument [Line Items]
Total debt gross	504,596,000
Total debt	$ 501,748,000
Weighted average contractual interest rate	3.70%
Continuing Operations [Member] | Fixed-Rate Mortgage - Held for Sale [Member] | Franklin Village [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2026
Total debt gross	$ 44,018,000
Weighted average contractual interest rate	3.90%
Continuing Operations [Member] | Fixed-Rate Mortgage - Held for Sale [Member] | Shops at Suffolk Downs [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2031
Total debt gross	$ 15,600,000
Weighted average contractual interest rate	3.50%
Continuing Operations [Member] | Fixed-Rate Mortgage - Held for Sale [Member] | Trexlertown Plaza [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2031
Total debt gross	$ 36,100,000
Weighted average contractual interest rate	3.50%
Continuing Operations [Member] | Fixed-Rate Mortgage - Held for Sale [Member] | The Point [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2031
Total debt gross	$ 29,700,000
Weighted average contractual interest rate	3.50%
Continuing Operations [Member] | Fixed-Rate Mortgage - Held for Sale [Member] | Christina Crossing [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2031
Total debt gross	$ 17,000,000
Weighted average contractual interest rate	3.50%
Continuing Operations [Member] | Fixed-Rate Mortgage - Held for Sale [Member] | Lawndale Plaza [Member]
Debt Instrument [Line Items]
Maturity date	Jun. 30, 2031
Total debt gross	$ 15,600,000
Weighted average contractual interest rate	3.50%
Continuing Operations [Member] | Finance Lease Obligation - Held for Sale [Member] | Senator Square Finance Lease Obligation [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 30, 2050
Total debt gross	$ 5,578,000
Weighted average contractual interest rate	5.30%
Continuing Operations [Member] | Fixed-Rate Mortgage [Member] | Term Loan [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 Two [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 Three [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] | Fixed-Rate Mortgage [Member] | Term Loan Four [Member] | Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 31, 2026
Credit facilities	$ 50,000,000
Weighted average contractual interest rate	3.30%
Continuing Operations [Member] | Variable Rate Mortgage [Member] | Revolving Credit Facility [Member] | Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date	Aug. 31, 2024
Credit facilities	$ 41,000,000
Weighted average contractual interest rate	3.10%
Continuing Operations [Member] | Fixed-Rate Mortgage and Finance Lease Obligation - Held for Sale [Member]
Debt Instrument [Line Items]
Total debt gross	$ 163,596,000
Weighted average contractual interest rate	3.60%

Mortgage Loans Payable and Un_4

Mortgage Loans Payable and Unsecured Credit Facility (Schedule of Debt and Finance Lease Obligations Related to Continuing Operations) (Parenthetical) (Details) - Revolving Credit Facility [Member]	6 Months Ended
	Jun. 30, 2022 Term
Debt Instrument [Line Items]
Line of credit facility extension allowed period	1 year
Line of credit facility extension allowed term	2

Mortgage Loans Payable and Un_5

Mortgage Loans Payable and Unsecured Credit Facility (Narrative) (Details)			6 Months Ended
	Aug. 30, 2021 USD ($) Term	May 05, 2021 USD ($)	Jun. 30, 2022 USD ($) Term	Dec. 31, 2021 USD ($)
Line Of Credit Facility [Line Items]
Credit facilities			$ 41,000,000	$ 66,000,000
Interest Rate Swap [Member]
Line Of Credit Facility [Line Items]
Derivative, notional amount			300,000,000	$ 300,000,000
Interest Rate Swap [Member] | Discontinued Operations [Member]
Line Of Credit Facility [Line Items]
Interest rate swaps termination benefit			$ 3,400,000
Non-recourse Mortgage [Member]
Line Of Credit Facility [Line Items]
Maturity date		Jun. 01, 2031
Interest at fixed-rate		3.49%
Non-recourse Mortgage [Member] | Nonrecourse
Line Of Credit Facility [Line Items]
Non-recourse mortgage amount		$ 114,000,000
Unsecured Credit Facility [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowing capacity	$ 300,000,000
Revolving Credit Facility [Member]
Line Of Credit Facility [Line Items]
Line of credit facility extension allowed term | Term			2
Line of credit facility extension allowed period			1 year
Basis spread on borrowings variable rate			1.50%
Credit facilities			$ 41,000,000
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	$ 185,000,000
Credit facility expiration date	Aug. 31, 2024
Line of credit facility extension allowed term | Term	2
Line of credit facility extension allowed period	1 year
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	Aug. 31, 2026
Line of credit facility extension allowed period	4 years

Mortgage Loans Payable and Un_6

Mortgage Loans Payable and Unsecured Credit Facility (Summary of Derivative Financial Instruments Held) (Details) - Interest Rate Swap [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Cash Flow Hedging, Count 2 [Member]
Derivatives Fair Value [Line Items]
Count | contract	4
Fair value | $	$ 3,176,000
Cash Flow Hedging, Count 2 [Member] | Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2023
Cash Flow Hedging, Count 2 [Member] | Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2025
Cash Flow Hedging, Count 3 [Member]
Derivatives Fair Value [Line Items]
Count | contract	1
Fair value | $	$ 20,000
Cash Flow Hedging, Count 3 [Member] | Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2023
Cash Flow Hedging, Count 3 [Member] | Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates	2025
Cash Flow Hedging, Count 5 [Member]
Derivatives Fair Value [Line Items]
Count | contract		5
Fair value | $		$ 8,232,000
Cash Flow Hedging, Count 5 [Member] | Minimum [Member]
Derivatives Fair Value [Line Items]
Maturity dates		2023
Cash Flow Hedging, Count 5 [Member] | Maximum [Member]
Derivatives Fair Value [Line Items]
Maturity dates		2025

Mortgage Loans Payable and Un_7

Mortgage Loans Payable and Unsecured 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, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Designation/Cash Flow [Member] | Interest Rate Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Gain recognized in other comprehensive (loss) income (effective portion)	$ 2,156,000	$ (637,000)	$ 9,132,000	$ 1,756,000
Continuing Operations [Member]
Derivative Instruments Gain Loss [Line Items]
(Loss) recognized in other comprehensive (loss) income reclassified into earnings (effective portion)	$ (958,000)	$ (1,656,000)	$ (2,320,000)	$ (3,460,000)

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Weighted average remaining lease term	49 years 3 months 18 days		49 years 3 months 18 days
Weighted average discount rate	8.60%		8.60%
Rent expense	$ 0.1	$ 0.3	$ 0.2	$ 0.7
Lease rent deferred	$ 3.5		3.5
Lease rent waived			$ 2.4
Weighted average payback period for remaining deferred rent receivable			10 months

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - $ / shares	Jul. 19, 2022	Jun. 30, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Preferred stock, shares authorized		12,500,000
Subsequent Event [Member]
Class Of Stock [Line Items]
Dividends payable, date declared	Jul. 19, 2022
Dividends payable, date to be paid	Aug. 22, 2022
Dividends payable, date of record	Aug. 12, 2022
Series B [Member]
Class Of Stock [Line Items]
Preferred stock, shares authorized		1,450,000	1,450,000
Series B [Member] | Subsequent Event [Member]
Class Of Stock [Line Items]
Preferred stock dividends declared	$ 0.453125
Series C [Member]
Class Of Stock [Line Items]
Preferred stock, shares authorized		6,450,000	6,450,000
Series C [Member] | Subsequent Event [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, 2022	Dec. 31, 2021
Class Of Stock [Line Items]
Preferred stock, shares authorized	12,500,000
Preferred stock	$ 159,541,000	$ 159,541,000
Series B Preferred Stock [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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Class Of Stock [Line Items]
Common stock		$ 0.066	$ 0.066	$ 0.132
Series B Preferred Stock [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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues [Abstract]
Base rents	$ 5,878,000	$ 7,686,000	$ 11,796,000	$ 15,493,000
Expense recoveries	2,201,000	2,476,000	4,143,000	5,094,000
Percentage rent	146,000	122,000	269,000	363,000
Straight-line rents	(19,000)	159,000	(87,000)	171,000
Amortization of intangible lease liabilities, net	161,000	160,000	322,000	324,000
Total rents	$ 8,367,000	$ 10,603,000	$ 16,443,000	$ 21,445,000

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Revenues [Abstract]
Reduction of net income due to recording of revenue on cash basis and write off outstanding straight-line receivable	$ 0	$ 0
Unpaid billed charges of rent and tenant reimbursements	0.4	0.8
Unrecorded revenue from tenants	$ 0.4	$ 0.8

Share-Based Compensation (Sched

Share-Based Compensation (Schedule of Share-Based Compensation Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation [Abstract]
Expense relating to share/unit grants	$ 293,000	$ 1,092,000	$ 877,000	$ 2,021,000
Amounts capitalized	(12,000)	(46,000)	(54,000)	(95,000)
Total charged to operations	$ 281,000	$ 1,046,000	$ 823,000	$ 1,926,000
Unvested shares/units, December 31, 2021			492,000
Restricted share grants			7,000
Vested during period			(33,000)
Forfeitures/cancellations			(82,000)
Unvested shares/units, June 30, 2022	384,000		384,000
Unvested shares/unit, December 31, 2021, weighted average grant date fair value			$ 23.47
Restricted share grants, weighted average grant date fair value			26.31
Vested during period, weighted average grant date fair value			24.34
Forfeitures/cancellations, weighted average grant date fair value			28.29
Unvested shares/unit, March 31, 2022, weighted average grant date fair value	$ 22.42		$ 22.42

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions			6 Months Ended
	Jul. 20, 2021	Jun. 15, 2018	Jun. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value per share			$ 26.31
Shares granted under Stock incentive plan			7,000
Maximum shares to be earned			113,636
Share based compensation average annual total stock holders return, description			The percentage of the market performance-based equity award to be earned will be determined based on the Company’s annual return on an investment in the Company’s common stock (“TSR”) over the Interim Performance Period and/or over the Full Performance Period as follows: if average annual TSR (1) is below 4%, the percentage of grant earned would be 0%, (2) equals 4%, the percentage of grant earned would be 33.3%, (3) equals 6.5%, the percentage of grant earned would be 66.7%, and (4) equals 10% or above, the percentage of grant earned would be 100%.
Common stock, shares issued			13,558,000	13,658,000
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted to Company's President		113,636
Common stock, shares issued	113,636
Dividend equivalent rights paid	$ 0.3
Market Performance-Based Equity Award [Member] | Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted under Stock incentive plan		227,272
Dividend equivalent rights		227,272
2017 Plan [Member] | Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued			7,000
Weighted-average grant date fair value per share			$ 26.31

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average nonvested restricted shares outstanding	300,000	500,000	300,000	500,000
Weighted average number of OP units outstanding	65,000	81,000	73,000	81,000
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	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, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net (loss) income from continuing operations	$ (34,342,000)	$ 46,011,000	$ (41,155,000)	$ 40,726,000
Preferred stock dividends	(2,688,000)	(2,688,000)	(5,376,000)	(5,376,000)
Net loss (income) attributable to noncontrolling interests	143,000	(377,000)	185,000	(480,000)
Net earnings allocated to unvested shares	(18,000)	(1,878,000)	(41,000)	(1,850,000)
(Loss) income from continuing operations, net of noncontrolling interest, attributable to vested common shares	(36,905,000)	41,068,000	(46,387,000)	33,020,000
Income from discontinued operations, net of noncontrolling interests, attributable to vested common shares	(8,388,000)	5,421,000	(2,673,000)	11,921,000
Net (loss) income attributable to vested common shares	$ (45,293,000)	$ 46,489,000	$ (49,060,000)	$ 44,941,000
Weighted average number of vested common shares outstanding, basic	13,288,000	13,197,000	13,287,000	13,171,000
Weighted average number of vested common shares outstanding, diluted	13,288,000	13,197,000	13,287,000	13,171,000
Continuing operations, basic per share	$ (2.78)	$ 3.11	$ (3.49)	$ 2.51
Continuing operations, diluted per share	(2.78)	3.11	(3.49)	2.51
Discontinued operations, basic per share	(0.63)	0.41	(0.20)	0.90
Discontinued operations, diluted per share	(0.63)	0.41	(0.20)	0.90
Net (loss) income per common share attributable to common shareholders, basic	(3.41)	3.52	(3.69)	3.41
Net (loss) income per common share attributable to common shareholders, diluted	$ (3.41)	$ 3.52	$ (3.69)	$ 3.41