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

Cadre (NYSE:CDRE) announced its quarterly earnings results on Monday. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04), FiscalAI reports. The business had revenue of $155.43 million during the quarter, compared to the consensus estimate of $155.31 million. Cadre had a net margin of 7.23% and a return on equity of 13.50%.

Cadre Trading Up 5.1%

Shares of CDRE traded up $1.52 during mid-day trading on Monday, reaching $31.37. 662,990 shares of the company’s stock traded hands, compared to its average volume of 339,739. The stock has a market cap of $1.34 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.05 and a beta of 1.32. The stock’s 50-day moving average is $33.88 and its two-hundred day moving average is $39.33. Cadre has a 12 month low of $27.32 and a 12 month high of $48.76. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.50 and a quick ratio of 2.54.

Cadre Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Lake Street Capital restated a “buy” rating and set a $53.00 price objective on shares of Cadre in a research report on Wednesday, February 4th. Weiss Ratings cut Cadre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Wall Street Zen downgraded Cadre from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research downgraded Cadre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, Roth Mkm lifted their price objective on shares of Cadre from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.00.

Insider Activity

In related news, CEO Warren B. Kanders sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $31.93, for a total transaction of $3,193,000.00. Following the completion of the sale, the chief executive officer directly owned 9,917,039 shares of the company’s stock, valued at approximately $316,651,055.27. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Cadre

Several hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in Cadre by 6.7% in the fourth quarter. State Street Corp now owns 1,217,689 shares of the company’s stock worth $49,730,000 after purchasing an additional 76,685 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cadre by 6.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 706,691 shares of the company’s stock valued at $28,864,000 after purchasing an additional 40,284 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cadre by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 670,294 shares of the company’s stock valued at $27,380,000 after purchasing an additional 3,726 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of Cadre by 14.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 666,894 shares of the company’s stock worth $27,236,000 after purchasing an additional 84,566 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Cadre in the 4th quarter worth about $22,875,000. Institutional investors own 43.95% of the company’s stock.

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.