Cadre (NYSE:CDRE) Posts Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Cadre (NYSE:CDRE) issued its quarterly earnings data on Tuesday. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.20), FiscalAI reports. The business had revenue of $167.22 million during the quarter, compared to the consensus estimate of $182.94 million. Cadre had a return on equity of 13.37% and a net margin of 7.23%.Cadre’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the company earned $0.32 EPS.

Cadre Stock Performance

CDRE opened at $35.31 on Thursday. The company has a 50 day simple moving average of $42.44 and a two-hundred day simple moving average of $40.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58. The firm has a market cap of $1.44 billion, a P/E ratio of 33.00, a PEG ratio of 1.37 and a beta of 1.34. Cadre has a 1-year low of $27.07 and a 1-year high of $48.76.

Cadre Increases Dividend

The company also recently declared 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. This is an increase from Cadre’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, January 30th. Cadre’s payout ratio is presently 37.38%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Cadre during the first quarter valued at about $230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cadre by 4.2% in the first 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 period. Jones Financial Companies Lllp grew its position in shares of Cadre by 24,275.0% during the first quarter. Jones Financial Companies Lllp now owns 4,875 shares of the company’s stock worth $144,000 after purchasing an additional 4,855 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cadre by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 372,211 shares of the company’s stock worth $11,021,000 after purchasing an additional 31,123 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in Cadre by 98.5% during the 1st quarter. Jane Street Group LLC now owns 48,052 shares of the company’s stock valued at $1,423,000 after purchasing an additional 23,844 shares during the period. Institutional investors own 43.95% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.