Cadre (NYSE:CDRE) Posts Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Cadre (NYSE:CDRE) posted its quarterly earnings data on Tuesday. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.14), FiscalAI reports. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The business had revenue of $167.22 million during the quarter, compared to the consensus estimate of $182.94 million.

Cadre Stock Down 7.1%

NYSE CDRE traded down $3.11 during trading hours on Tuesday, reaching $40.89. 675,137 shares of the company’s stock were exchanged, compared to its average volume of 232,596. Cadre has a one year low of $27.07 and a one year high of $48.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.58 and a current ratio of 3.64. The company’s 50-day moving average is $42.56 and its two-hundred day moving average is $40.23. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Cadre Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. This is an increase from Cadre’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, January 30th. Cadre’s dividend payout ratio is currently 35.71%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CDRE. CJS Securities upgraded Cadre to a “strong-buy” rating in a report on Thursday, December 11th. Lake Street Capital reaffirmed a “buy” rating and set a $53.00 price objective on shares of Cadre in a research report on Wednesday, February 4th. Roth Mkm lifted their target price on Cadre from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Zacks Research cut Cadre from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, Wall Street Zen upgraded shares of Cadre from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cadre has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Institutional Investors Weigh In On Cadre

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDRE. XTX Topco Ltd bought a new position in Cadre in the fourth quarter valued at approximately $988,000. nVerses Capital LLC bought a new position in Cadre in the 4th quarter valued at about $214,000. Voloridge Investment Management LLC acquired a new stake in Cadre during the 4th quarter worth approximately $243,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cadre in the fourth quarter valued at about $210,000. Finally, Millennium Management LLC boosted its stake in shares of Cadre by 520.1% in the fourth quarter. Millennium Management LLC now owns 146,657 shares of the company’s stock valued at $5,989,000 after buying an additional 123,008 shares during the period. 43.95% of the stock is currently owned by institutional investors and hedge funds.

About Cadre

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.