Cadre (NYSE:CDRE – Free Report) had its target price boosted by JPMorgan Chase & Co. from $40.00 to $45.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.
A number of other equities analysts also recently weighed in on the company. Roth Capital reissued a “buy” rating and set a $40.00 price target on shares of Cadre in a research report on Wednesday, May 13th. Weiss Ratings cut Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group set a $40.00 target price on Cadre in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cadre presently has a consensus rating of “Moderate Buy” and an average target price of $40.80.
View Our Latest Research Report on CDRE
Cadre Stock Performance
Cadre (NYSE:CDRE – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $207.13 million for the quarter, compared to analyst estimates of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. As a group, equities analysts forecast that Cadre will post 1.47 earnings per share for the current year.
Cadre Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Cadre’s payout ratio is currently 44.94%.
Insider Activity
In related news, CEO Warren B. Kanders sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $27.43, for a total value of $1,371,500.00. Following the completion of the sale, the chief executive officer directly owned 9,617,039 shares in the company, valued at approximately $263,795,379.77. The trade was a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 175,000 shares of company stock valued at $5,091,500 in the last three months. Insiders own 30.10% of the company’s stock.
Institutional Investors Weigh In On Cadre
Several institutional investors and hedge funds have recently bought and sold shares of CDRE. BlackRock Inc. bought a new stake in shares of Cadre during the 2nd quarter worth approximately $83,730,000. Deutsche Bank AG acquired a new position in shares of Cadre during the second quarter worth $960,000. Bank of New York Mellon Corp bought a new position in shares of Cadre in the 2nd quarter valued at $5,082,000. State of Wyoming bought a new position in shares of Cadre in the 2nd quarter valued at $61,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Cadre by 5.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,380 shares of the company’s stock valued at $2,605,000 after acquiring an additional 4,386 shares in the last quarter. 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.
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