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Cedar Realty approves up to $30M stock repurchase program

Cedar Realty Trust Inc. approved a stock repurchase program, which authorizes the purchase of up to $30 million of its common stock in the open market or through private transactions over the next 12 months.

The shopping center real estate investment trust plans to fund any repurchases with net proceeds from asset sales, operational cash flow, amounts drawn under its revolving credit facility and other sources.