Cadre (NYSE:CDRE) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Cadre (NYSE:CDRE) posted its earnings results on Wednesday. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04, FiscalAI reports. The company had revenue of $207.13 million for the quarter, compared to analyst estimates of $178.29 million. Cadre had a net margin of 5.80% and a return on equity of 12.39%.

Cadre Stock Performance

Cadre stock traded up $0.13 during mid-day trading on Wednesday, reaching $31.05. 424,238 shares of the company’s stock were exchanged, compared to its average volume of 323,980. The business’s fifty day simple moving average is $29.68 and its 200 day simple moving average is $33.67. The firm has a market capitalization of $1.33 billion, a PE ratio of 34.89 and a beta of 1.32. Cadre has a one year low of $25.73 and a one year high of $48.76. The company has a quick ratio of 1.33, a current ratio of 2.26 and a debt-to-equity ratio of 1.04.

Cadre Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, July 31st. Cadre’s dividend payout ratio (DPR) is presently 44.94%.

Analysts Set New Price Targets

Several brokerages have recently commented on CDRE. Zacks Research raised Cadre from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 4th. Roth Capital reiterated a “buy” rating and set a $40.00 price target on shares of Cadre in a report on Wednesday, May 13th. Weiss Ratings lowered Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. initiated coverage on shares of Cadre in a report on Monday, July 27th. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, Jefferies Financial Group set a $40.00 target price on shares of Cadre in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.80.

Insider Transactions at Cadre

In other news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 9,817,039 shares of the company’s stock, valued at $294,805,681.17. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 175,000 shares of company stock valued at $5,091,500. 30.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cadre

Several institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in Cadre in the fourth quarter valued at about $65,000. Tower Research Capital LLC TRC increased its stake in shares of Cadre by 110.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company’s stock worth $136,000 after purchasing an additional 2,246 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Cadre by 34.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the company’s stock worth $137,000 after purchasing an additional 1,100 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Cadre by 24,275.0% in the 1st 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 during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Cadre in the fourth quarter valued at approximately $210,000. 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.