Cadre (NYSE:CDRE) Announces Earnings Results

Cadre (NYSE:CDRE) issued its earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04, FiscalAI reports. The business had revenue of $207.13 million during the quarter, compared to the consensus estimate of $178.29 million. Cadre had a return on equity of 12.16% and a net margin of 5.26%.

Cadre Stock Down 4.4%

NYSE:CDRE traded down $1.53 on Friday, reaching $33.49. The stock had a trading volume of 194,206 shares, compared to its average volume of 371,419. The company has a 50-day moving average of $29.74 and a 200 day moving average of $33.61. The company has a current ratio of 2.26, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.43 billion, a P/E ratio of 39.56 and a beta of 1.32. Cadre has a 12-month low of $25.73 and a 12-month high of $48.76.

Cadre Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, July 31st. Cadre’s dividend payout ratio is presently 44.94%.

Wall Street Analyst Weigh In

CDRE has been the subject of several recent research reports. Weiss Ratings downgraded Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price objective on shares of Cadre from $40.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday. Roth Capital restated a “buy” rating and issued a $40.00 price target on shares of Cadre in a report on Wednesday, May 13th. Jefferies Financial Group set a $40.00 price target on Cadre in a report on Wednesday, May 13th. Finally, Zacks Research raised Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cadre has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Insider Activity at Cadre

In other Cadre news, CEO Warren B. Kanders sold 100,000 shares of Cadre stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $30.03, for a total transaction of $3,003,000.00. Following the sale, the chief executive officer directly owned 9,817,039 shares in the company, valued at $294,805,681.17. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 175,000 shares of company stock valued at $5,091,500 in the last 90 days. Insiders own 30.10% of the company’s stock.

Institutional Trading of Cadre

Institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in shares of Cadre in the 1st quarter worth about $230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 purchasing an additional 628 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Cadre by 24,275.0% during the first quarter. Jones Financial Companies Lllp now owns 4,875 shares of the company’s stock valued at $144,000 after buying an additional 4,855 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Cadre by 9.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 372,211 shares of the company’s stock worth $11,021,000 after acquiring an additional 31,123 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Cadre by 98.5% in the 1st quarter. Jane Street Group LLC now owns 48,052 shares of the company’s stock valued at $1,423,000 after acquiring an additional 23,844 shares during the last quarter. 43.95% of the stock is owned by institutional investors and hedge funds.

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.