Cadre (NYSE:CDRE) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Cadre (NYSE:CDRE) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Several other analysts also recently issued reports on the stock. Roth Capital reaffirmed a “buy” rating and set a $44.00 price objective on shares of Cadre in a report on Friday, October 10th. CJS Securities upgraded shares of Cadre to a “strong-buy” rating in a report on Thursday, December 11th. B. Riley reiterated a “buy” rating on shares of Cadre in a research note on Thursday, November 6th. Lake Street Capital boosted their price objective on Cadre from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cadre in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cadre presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Cadre Stock Performance

Shares of NYSE CDRE opened at $41.58 on Friday. The business’s 50-day simple moving average is $42.22 and its 200-day simple moving average is $36.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.58 and a current ratio of 3.64. Cadre has a 52 week low of $27.07 and a 52 week high of $46.64. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 37.13, a P/E/G ratio of 1.55 and a beta of 1.36.

Cadre (NYSE:CDRE) last posted its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $155.87 million during the quarter, compared to analyst estimates of $158.96 million. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The company’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. As a group, equities research analysts expect that Cadre will post 1.05 earnings per share for the current fiscal year.

Cadre Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a $0.095 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $0.38 annualized dividend and a yield of 0.9%. Cadre’s dividend payout ratio is 33.93%.

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 86,903 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $39.00, for a total value of $3,389,217.00. Following the completion of the transaction, the chief executive officer owned 10,129,289 shares in the company, valued at approximately $395,042,271. This represents a 0.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 31.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CDRE. Huntington National Bank raised its holdings in shares of Cadre by 48.4% in the second quarter. Huntington National Bank now owns 960 shares of the company’s stock valued at $31,000 after buying an additional 313 shares during the last quarter. Jones Financial Companies Lllp increased its position in Cadre by 585.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 974 shares of the company’s stock valued at $35,000 after acquiring an additional 832 shares in the last quarter. Assetmark Inc. increased its position in Cadre by 43.1% in the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock valued at $44,000 after acquiring an additional 420 shares in the last quarter. Militia Capital Partners LP bought a new position in shares of Cadre in the first quarter worth about $49,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Cadre during the third quarter worth approximately $74,000. 43.95% of the stock is currently owned by institutional investors and hedge funds.

Cadre Company Profile

Cadre (NYSE:CDRE) is a technology‐driven real estate investment platform that offers accredited and institutional investors direct access to institutional‐grade commercial properties. Established in 2014, Cadre leverages a data-centric approach to identify, underwrite and manage investments in multifamily, office, retail and industrial assets across major U.S. markets. The firm’s platform is designed to streamline the investment process, from deal sourcing and due diligence to ongoing asset management and reporting.

Through its online marketplace, Cadre provides a curated selection of equity and preferred equity offerings, allowing investors to participate in individual properties or diversify across a managed portfolio.