Wall Street Zen Upgrades Cadre (NYSE:CDRE) to Strong-Buy

Cadre (NYSE:CDRE) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

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

Cadre Price Performance

Cadre stock opened at $41.58 on Friday. The business has a 50 day simple moving average of $42.22 and a 200 day simple moving average of $36.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58. The company has a market capitalization of $1.69 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.36. Cadre has a one year low of $27.07 and a one year high of $46.64.

Cadre (NYSE:CDRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) 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 business’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. On average, sell-side analysts forecast that Cadre will post 1.05 EPS for the current fiscal year.

Insider Transactions at Cadre

In other Cadre news, CEO Warren B. Kanders sold 1,257,038 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $39.00, for a total value of $49,024,482.00. Following the transaction, the chief executive officer directly owned 1,546 shares in the company, valued at approximately $60,294. This trade represents a 99.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.50% of the company’s stock.

Hedge Funds Weigh In On Cadre

Several large investors have recently made changes to their positions in CDRE. Greenhouse Funds LLLP increased its position in Cadre by 1.7% in the third quarter. Greenhouse Funds LLLP now owns 2,789,410 shares of the company’s stock worth $101,841,000 after purchasing an additional 46,145 shares during the period. Reinhart Partners LLC. acquired a new position in Cadre during the 3rd quarter valued at about $70,205,000. Vanguard Group Inc. boosted its stake in shares of Cadre by 15.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock valued at $61,981,000 after purchasing an additional 224,218 shares during the last quarter. Capital Research Global Investors grew its position in shares of Cadre by 30.6% during the 3rd 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 during the period. Finally, Fred Alger Management LLC grew its position in shares of Cadre by 20.9% during the 1st quarter. Fred Alger Management LLC now owns 826,528 shares of the company’s stock worth $24,473,000 after buying an additional 143,119 shares during the period. 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.