Cadre (NYSE:CDRE) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of Cadre (NYSE:CDRE) from a strong-buy rating to a buy rating in a research report report published on Friday morning.

Several other research analysts have also weighed in on CDRE. B. Riley reiterated a “buy” rating on shares of Cadre in a report on Thursday, November 6th. Lake Street Capital raised their target price on shares of Cadre from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. CJS Securities upgraded shares of Cadre to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Cadre in a report on Monday, December 29th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $44.00 price target on shares of Cadre in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.67.

Cadre Stock Performance

CDRE stock opened at $43.38 on Friday. Cadre has a twelve month low of $27.07 and a twelve month high of $46.64. The company has a quick ratio of 2.58, a current ratio of 3.64 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.76 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.36. The business’s fifty day moving average is $42.28 and its 200-day moving average is $37.78.

Cadre (NYSE:CDRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $155.87 million during the quarter, compared to the consensus estimate of $158.96 million. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The firm’s revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. Equities research analysts forecast that Cadre will post 1.05 EPS for the current year.

Cadre Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, January 30th. This is a boost from Cadre’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Cadre’s payout ratio is currently 33.93%.

Insider Activity at Cadre

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

Hedge Funds Weigh In On Cadre

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenhouse Funds LLLP boosted its stake in Cadre by 1.7% in the 3rd quarter. Greenhouse Funds LLLP now owns 2,789,410 shares of the company’s stock valued at $101,841,000 after purchasing an additional 46,145 shares during the period. Reinhart Partners LLC. bought a new stake in shares of Cadre in the third quarter valued at approximately $70,205,000. Vanguard Group Inc. boosted its stake in shares of Cadre by 15.2% in the third quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock valued at $61,981,000 after buying an additional 224,218 shares during the period. Capital Research Global Investors grew its position in Cadre by 30.6% during the third quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock worth $33,966,000 after buying an additional 217,864 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd bought a new position in Cadre during the 2nd quarter worth $21,872,000. Institutional investors and hedge funds own 43.95% of the company’s stock.

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.