Cadre (NYSE:CDRE) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Cadre (NYSE:CDRE) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities analysts have also recently commented on CDRE. Lake Street Capital restated a “buy” rating and set a $53.00 price target on shares of Cadre in a report on Wednesday, February 4th. Weiss Ratings lowered Cadre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Roth Mkm lifted 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, Wall Street Zen downgraded Cadre from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.00.

Cadre Price Performance

NYSE CDRE opened at $29.93 on Wednesday. The company has a 50 day simple moving average of $33.88 and a 200-day simple moving average of $39.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.50 and a quick ratio of 2.54. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.32. Cadre has a 52-week low of $27.32 and a 52-week high of $48.76.

Cadre (NYSE:CDRE) last announced its quarterly earnings data on Tuesday, March 10th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.20). The company had revenue of $167.22 million for the quarter, compared to analysts’ expectations of $182.94 million. Cadre had a net margin of 7.23% and a return on equity of 13.50%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. Equities research analysts predict that Cadre will post 1.18 earnings per share for the current fiscal year.

Cadre Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, May 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Cadre’s dividend payout ratio is 37.38%.

Insider Buying and Selling at Cadre

In related news, CEO Warren B. Kanders sold 100,000 shares of Cadre stock in a transaction on Friday, March 20th. The shares were sold at an average price of $31.40, for a total value of $3,140,000.00. Following the completion of the sale, the chief executive officer owned 10,017,039 shares of the company’s stock, valued at approximately $314,535,024.60. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Cadre

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in shares of Cadre by 585.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 974 shares of the company’s stock valued at $35,000 after acquiring an additional 832 shares during the last quarter. KBC Group NV bought a new position in shares of Cadre in the 1st quarter valued at approximately $41,000. Huntington National Bank lifted its holdings in Cadre by 33.9% in the 3rd quarter. Huntington National Bank now owns 1,285 shares of the company’s stock worth $47,000 after purchasing an additional 325 shares during the last quarter. Assetmark Inc. boosted its position in Cadre by 34.6% during the first quarter. Assetmark Inc. now owns 1,878 shares of the company’s stock worth $58,000 after purchasing an additional 483 shares during the period. Finally, Danske Bank A S boosted its position in Cadre by 400.0% during the fourth quarter. Danske Bank A S now owns 1,500 shares of the company’s stock worth $61,000 after purchasing an additional 1,200 shares during the period. 43.95% of the stock is currently owned by institutional investors.

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.