Cadre (NYSE:CDRE) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

Cadre Trading Up 0.4%

Shares of CDRE stock opened at $31.05 on Thursday. The firm has a market capitalization of $1.33 billion, a P/E 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 firm’s fifty day simple moving average is $29.68 and its 200 day simple moving average is $33.67. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

Cadre Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.10 per share. 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 1.3%. Cadre’s payout ratio is 44.94%.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $27.43, for a total value of $1,371,500.00. Following the sale, the chief executive officer directly owned 9,617,039 shares in the company, valued at $263,795,379.77. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 175,000 shares of company stock valued at $5,091,500. 30.10% of the stock is owned by corporate insiders.

Institutional Trading of Cadre

Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings 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 worth $446,000 after purchasing an additional 438 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cadre by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company’s stock worth $458,000 after acquiring an additional 628 shares during the last quarter. Mariner LLC increased its position in Cadre by 6.1% in the 3rd quarter. Mariner LLC now owns 11,174 shares of the company’s stock valued at $408,000 after acquiring an additional 643 shares in the last quarter. Sei Investments Co. raised its stake in shares of Cadre by 3.2% in the second quarter. Sei Investments Co. now owns 21,040 shares of the company’s stock worth $670,000 after acquiring an additional 651 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Cadre by 6.3% during the fourth quarter. Intech Investment Management LLC now owns 11,122 shares of the company’s stock valued at $454,000 after purchasing an additional 656 shares during the last quarter. Institutional investors and hedge funds own 43.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CDRE shares. Jefferies Financial Group set a $40.00 price target on Cadre in a research report on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on Cadre in a research report on Monday, July 27th. They set an “overweight” rating and a $40.00 target price for the company. Zacks Research upgraded Cadre from a “strong sell” rating to a “hold” rating in a report on Thursday, June 4th. Roth Capital reissued a “buy” rating and issued a $40.00 price target on shares of Cadre in a research report on Wednesday, May 13th. Finally, Weiss Ratings cut shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.