Short Interest in Cadre Holdings, Inc. (NYSE:CDRE) Grows By 25.3%

Cadre Holdings, Inc. (NYSE:CDRE) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 2,276,594 shares, a growth of 25.3% from the January 15th total of 1,816,732 shares. Based on an average trading volume of 210,076 shares, the days-to-cover ratio is currently 10.8 days. Currently, 8.2% of the company’s stock are sold short. Currently, 8.2% of the company’s stock are sold short. Based on an average trading volume of 210,076 shares, the days-to-cover ratio is currently 10.8 days.

Analyst Ratings Changes

Several analysts have weighed in on CDRE shares. Roth Mkm lifted their target price on Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Lake Street Capital reissued a “buy” rating and set a $53.00 target price on shares of Cadre in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Cadre from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Cadre in a report on Monday, December 29th. Finally, CJS Securities upgraded Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $43.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CDRE. Huntington National Bank increased its position in shares of Cadre by 48.4% during the 2nd quarter. Huntington National Bank now owns 960 shares of the company’s stock worth $31,000 after purchasing an additional 313 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Cadre by 585.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 974 shares of the company’s stock worth $35,000 after buying an additional 832 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Cadre by 43.1% during the 2nd quarter. Assetmark Inc. now owns 1,395 shares of the company’s stock worth $44,000 after buying an additional 420 shares during the period. Danske Bank A S grew its stake in Cadre by 400.0% in the 4th quarter. Danske Bank A S now owns 1,500 shares of the company’s stock valued at $61,000 after buying an additional 1,200 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Cadre during the fourth quarter worth approximately $65,000. Institutional investors own 43.95% of the company’s stock.

Cadre Stock Performance

Shares of NYSE CDRE traded up $0.96 during mid-day trading on Monday, hitting $42.21. The company had a trading volume of 143,155 shares, compared to its average volume of 193,853. The firm has a market cap of $1.72 billion, a P/E ratio of 37.68, a PEG ratio of 1.42 and a beta of 1.36. Cadre has a 12 month low of $27.07 and a 12 month high of $46.64. The business’s 50-day simple moving average is $42.09 and its 200-day simple moving average is $38.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58.

Cadre Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.10 dividend. The ex-dividend date was Friday, January 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. This is a boost from Cadre’s previous quarterly dividend of $0.10. Cadre’s dividend payout ratio is presently 35.71%.

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.