Cadre (NYSE:CDRE) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Cadre (NYSE:CDRE) from a strong-buy rating to a hold rating in a research report released on Saturday morning.

Several other brokerages also recently issued reports on CDRE. Zacks Research downgraded shares of Cadre from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. CJS Securities raised Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. Roth Mkm increased their target price on Cadre from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Cadre in a report on Monday, December 29th. Finally, Lake Street Capital restated a “buy” rating and issued a $53.00 price target on shares of Cadre in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cadre presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Cadre Price Performance

NYSE:CDRE opened at $32.79 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of 30.64, a P/E/G ratio of 1.11 and a beta of 1.34. The firm’s fifty day moving average price is $41.89 and its two-hundred day moving average price is $40.36. 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 0.92, a current ratio of 3.50 and a quick ratio of 2.54.

Cadre (NYSE:CDRE) last announced its earnings results on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.20). Cadre had a return on equity of 13.50% and a net margin of 7.23%.The company had revenue of $167.22 million for the quarter, compared to the consensus estimate of $182.94 million. During the same period in the previous year, the firm posted $0.32 EPS. The business’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts expect that Cadre will post 1.05 earnings per share for the current year.

Cadre Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. 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 presently 37.38%.

Hedge Funds Weigh In On Cadre

A number of hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its holdings in Cadre by 585.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 974 shares of the company’s stock valued at $35,000 after acquiring an additional 832 shares in the last quarter. Huntington National Bank grew its holdings in shares of Cadre by 33.9% during the 3rd quarter. Huntington National Bank now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 325 shares in the last quarter. Danske Bank A S increased its position in shares of Cadre by 400.0% in the fourth quarter. Danske Bank A S now owns 1,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,200 shares during the period. State of Wyoming bought a new position in shares of Cadre in the fourth quarter worth $65,000. Finally, State of Alaska Department of Revenue acquired a new position in Cadre in the third quarter valued at about $74,000. Institutional investors 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.