Cadre (NYSE:CDRE) Upgraded to “Strong-Buy” at Zacks Research

Cadre (NYSE:CDRE) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on CDRE. B. Riley reiterated a “buy” rating on shares of Cadre in a research note on Thursday, November 6th. Roth Mkm lifted their target price on shares of Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Lake Street Capital reaffirmed a “buy” rating and set a $53.00 price target on shares of Cadre in a research report on Wednesday. CJS Securities raised Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cadre in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $43.00.

Cadre Stock Performance

Shares of NYSE:CDRE opened at $41.30 on Tuesday. The business has a 50-day moving average of $42.27 and a two-hundred day moving average of $38.29. The firm has a market capitalization of $1.68 billion, a PE ratio of 36.88, a P/E/G ratio of 1.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58. Cadre has a 12 month low of $27.07 and a 12 month high of $46.64.

Cadre (NYSE:CDRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Cadre had a return on equity of 13.94% and a net margin of 7.33%.The business had revenue of $155.87 million for the quarter, compared to analyst estimates of $158.96 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s revenue was up 42.5% compared to the same quarter last year. As a group, research analysts forecast that Cadre will post 1.05 earnings per share for the current year.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 86,903 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $39.00, for a total transaction of $3,389,217.00. Following the completion of the sale, the chief executive officer owned 10,129,289 shares in the company, valued at $395,042,271. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.50% of the stock is currently owned by company insiders.

Institutional Trading of Cadre

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenhouse Funds LLLP boosted its stake in Cadre by 1.7% during the 3rd quarter. Greenhouse Funds LLLP now owns 2,789,410 shares of the company’s stock valued at $101,841,000 after acquiring an additional 46,145 shares during the last quarter. Reinhart Partners LLC. acquired a new stake in shares of Cadre in the 3rd quarter valued at about $70,205,000. Vanguard Group Inc. raised its stake in shares of Cadre by 15.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock valued at $61,981,000 after purchasing an additional 224,218 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Cadre by 30.6% during the third quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock worth $33,966,000 after purchasing an additional 217,864 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd acquired a new position in Cadre in the second quarter worth about $21,872,000. Institutional investors own 43.95% of the company’s stock.

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.