Cadre (NYSE:CDRE) Posts Earnings Results

Cadre (NYSE:CDRE) announced its earnings results on Wednesday. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04, FiscalAI reports. Cadre had a net margin of 5.80% and a return on equity of 12.39%. The business had revenue of $207.13 million during the quarter, compared to the consensus estimate of $178.29 million.

Cadre Stock Up 0.4%

NYSE CDRE traded up $0.13 during mid-day trading on Wednesday, reaching $31.05. The stock had a trading volume of 424,238 shares, compared to its average volume of 323,980. The stock has a market cap of $1.33 billion, a PE ratio of 34.89 and a beta of 1.32. Cadre has a 1 year low of $25.73 and a 1 year high of $48.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.26 and a quick ratio of 1.33. The company has a fifty day moving average price of $29.68 and a 200 day moving average price of $33.67.

Cadre Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, July 31st. Cadre’s payout ratio is presently 44.94%.

Insider Buying and Selling

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of Cadre stock in a transaction 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 owned 9,617,039 shares of the company’s stock, valued at approximately $263,795,379.77. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 175,000 shares of company stock worth $5,091,500. Company insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in shares of Cadre by 3.2% during the second quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company’s stock valued at $446,000 after buying an additional 438 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cadre by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company’s stock worth $458,000 after buying an additional 628 shares during the last quarter. Mariner LLC raised its position in Cadre by 6.1% in the 3rd quarter. Mariner LLC now owns 11,174 shares of the company’s stock worth $408,000 after buying an additional 643 shares during the last quarter. Sei Investments Co. lifted its stake in Cadre by 3.2% during the 2nd quarter. Sei Investments Co. now owns 21,040 shares of the company’s stock valued at $670,000 after acquiring an additional 651 shares during the period. Finally, Intech Investment Management LLC lifted its stake in Cadre by 6.3% during the 4th quarter. Intech Investment Management LLC now owns 11,122 shares of the company’s stock valued at $454,000 after acquiring an additional 656 shares during the period. 43.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CDRE has been the topic of several recent research reports. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. Roth Capital reiterated a “buy” rating and set a $40.00 price objective on shares of Cadre in a research note on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on Cadre in a report on Monday, July 27th. They issued an “overweight” rating and a $40.00 target price on the stock. Jefferies Financial Group set a $40.00 target price on Cadre in a research note on Wednesday, May 13th. Finally, Weiss Ratings downgraded Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cadre has an average rating of “Moderate Buy” and an average price target of $39.80.

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.