Cadre (NYSE:CDRE) Shares Gap Up – Should You Buy?

Cadre Holdings, Inc. (NYSE:CDRE)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $45.45, but opened at $47.71. Cadre shares last traded at $45.88, with a volume of 133,059 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on CDRE shares. Zacks Research lowered shares of Cadre from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wall Street Zen upgraded shares of Cadre from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Lake Street Capital reissued a “buy” rating and issued a $53.00 target price on shares of Cadre in a research report on Wednesday, February 4th. CJS Securities upgraded Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cadre in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Cadre Stock Performance

The stock’s 50-day simple moving average is $42.52 and its 200 day simple moving average is $39.97. The company has a market capitalization of $1.77 billion, a PE ratio of 38.90, a P/E/G ratio of 1.52 and a beta of 1.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.58 and a current ratio of 3.64.

Cadre Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, January 30th. This is a positive change from Cadre’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Cadre’s dividend payout ratio is 35.71%.

Institutional Trading of Cadre

Institutional investors and hedge funds have recently made changes to their positions in the company. Greenhouse Funds LLLP lifted its holdings in shares of Cadre by 1.7% during the third quarter. Greenhouse Funds LLLP now owns 2,789,410 shares of the company’s stock worth $101,841,000 after purchasing an additional 46,145 shares during the period. Reinhart Partners LLC. increased its stake in Cadre by 12.9% in the 4th quarter. Reinhart Partners LLC. now owns 2,170,349 shares of the company’s stock valued at $88,638,000 after buying an additional 247,458 shares during the period. Vanguard Group Inc. raised its position in Cadre by 15.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock worth $61,981,000 after buying an additional 224,218 shares during the last quarter. State Street Corp raised its position in Cadre by 6.7% during the 4th quarter. State Street Corp now owns 1,217,689 shares of the company’s stock worth $49,730,000 after buying an additional 76,685 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Cadre by 30.6% in the 3rd quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock worth $33,966,000 after acquiring an additional 217,864 shares during the period. 43.95% of the stock is owned by hedge funds and other institutional investors.

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.