Cadre (NYSE:CDRE) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cadre (NYSE:CDREFree Report) from a hold rating to a buy rating in a research note released on Saturday.

A number of other research firms have also recently commented on CDRE. Weiss Ratings cut shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Zacks Research raised shares of Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. Roth Capital restated a “buy” rating and issued a $40.00 target price on shares of Cadre in a research note on Wednesday, May 13th. Jefferies Financial Group set a $40.00 target price on shares of Cadre in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cadre from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

Read Our Latest Report on CDRE

Cadre Price Performance

CDRE opened at $32.98 on Friday. The business has a fifty day moving average of $29.78 and a 200 day moving average of $33.60. The stock has a market cap of $1.41 billion, a P/E ratio of 38.80 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 2.14 and a debt-to-equity ratio of 1.02. Cadre has a 52-week low of $25.73 and a 52-week high of $48.76.

Cadre (NYSE:CDREGet Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Cadre had a return on equity of 12.02% and a net margin of 5.26%.The business had revenue of $207.13 million for the quarter, compared to analyst estimates of $178.29 million. As a group, sell-side analysts anticipate that Cadre will post 1.47 EPS for the current year.

Cadre Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid 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 dividend payout ratio is 44.94%.

Insider Transactions at Cadre

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the transaction, the chief executive officer owned 9,817,039 shares of the company’s stock, valued at approximately $294,805,681.17. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 175,000 shares of company stock worth $5,091,500. 30.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cadre

Several hedge funds have recently modified their holdings of CDRE. KBC Group NV bought a new position in shares of Cadre during the first quarter valued at approximately $41,000. Danske Bank A S lifted its holdings in Cadre by 400.0% during the fourth quarter. Danske Bank A S now owns 1,500 shares of the company’s stock worth $61,000 after buying an additional 1,200 shares during the period. State of Wyoming purchased a new stake in Cadre during the fourth quarter worth $65,000. Assetmark Inc. boosted its position in Cadre by 34.6% during the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock valued at $58,000 after acquiring an additional 483 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Cadre by 110.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company’s stock valued at $136,000 after acquiring an additional 2,246 shares in the last quarter. Hedge funds and other institutional investors own 43.95% of the company’s stock.

About Cadre

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Cadre (NYSE:CDRE)

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