Cadre (NYSE:CDRE) Announces Earnings Results

Cadre (NYSE:CDRE) issued its earnings results on Tuesday. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14), FiscalAI reports. The firm had revenue of $167.22 million during the quarter, compared to analyst estimates of $182.94 million. Cadre had a return on equity of 13.94% and a net margin of 7.33%.

Cadre Price Performance

Shares of NYSE:CDRE traded down $3.11 during trading on Tuesday, reaching $40.89. The company had a trading volume of 675,137 shares, compared to its average volume of 232,596. The firm’s fifty day moving average is $42.56 and its 200 day moving average is $40.23. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.58 and a current ratio of 3.64. The firm has a market capitalization of $1.66 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34. Cadre has a twelve month low of $27.07 and a twelve month high of $48.76.

Cadre Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. 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. Cadre’s dividend payout ratio is 35.71%.

Hedge Funds Weigh In On Cadre

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in shares of Cadre during the 4th quarter valued at $988,000. nVerses Capital LLC bought a new stake in Cadre during the fourth quarter worth approximately $214,000. Voloridge Investment Management LLC acquired a new position in Cadre during the fourth quarter valued at approximately $243,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cadre during the 4th quarter worth $210,000. Finally, Millennium Management LLC grew its stake in Cadre by 520.1% in the 4th quarter. Millennium Management LLC now owns 146,657 shares of the company’s stock valued at $5,989,000 after buying an additional 123,008 shares during the last quarter. Institutional investors own 43.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CDRE shares. Zacks Research lowered shares of Cadre from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen raised shares of Cadre from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Cadre in a research note on Monday, December 29th. Roth Mkm boosted their price objective on Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Finally, Lake Street Capital reissued a “buy” rating and set a $53.00 price target 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 given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.