Cadre (NYSE:CDRE) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Cadre (NYSE:CDRE) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Cadre in a research report on Monday, December 29th. Lake Street Capital reaffirmed a “buy” rating and set a $53.00 price target on shares of Cadre in a research note on Wednesday. Roth Mkm lifted their target price on Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen cut shares of Cadre from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, B. Riley reissued a “buy” rating on shares of Cadre in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cadre currently has a consensus rating of “Buy” and an average price target of $43.00.

Cadre Stock Down 1.7%

CDRE stock opened at $41.30 on Tuesday. The business’s 50-day simple moving average is $42.27 and its 200 day simple moving average is $38.29. 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 $1.68 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 1.36 and a beta of 1.36. Cadre has a twelve month low of $27.07 and a twelve month high of $46.64.

Cadre (NYSE:CDRE) last posted its quarterly earnings results 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. Cadre had a net margin of 7.33% and a return on equity of 13.94%. The firm had revenue of $155.87 million during the quarter, compared to analyst estimates of $158.96 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 42.5% compared to the same quarter last year. On average, research analysts anticipate that Cadre will post 1.05 earnings per share for the current year.

Cadre Increases Dividend

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

Insider Buying and Selling at Cadre

In other news, CEO Warren B. Kanders sold 1,257,038 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $39.00, for a total transaction of $49,024,482.00. Following the completion of the sale, the chief executive officer owned 1,546 shares in the company, valued at $60,294. The trade was a 99.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 31.50% of the company’s stock.

Institutional Trading of Cadre

Institutional investors and hedge funds have recently modified their holdings of the business. Reinhart Partners LLC. purchased a new position in shares of Cadre in the 3rd quarter worth $70,205,000. Harbor Capital Advisors Inc. bought a new stake in Cadre during the 3rd quarter worth approximately $1,775,000. Advantage Alpha Capital Partners LP purchased a new position in shares of Cadre during the 2nd quarter valued at $3,731,000. WCM Investment Management LLC lifted its position in shares of Cadre by 9.1% in the third quarter. WCM Investment Management LLC now owns 578,564 shares of the company’s stock valued at $20,961,000 after acquiring an additional 48,020 shares in the last quarter. Finally, Greenhouse Funds LLLP boosted its stake in Cadre by 8.4% in the 2nd quarter. Greenhouse Funds LLLP now owns 2,743,265 shares of the company’s stock worth $87,373,000 after purchasing an additional 213,298 shares during the period. 43.95% of the stock is owned by hedge funds and other institutional investors.

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.