Cadre (NYSE:CDRE) Shares Gap Up – Here’s Why

Cadre Holdings, Inc. (NYSE:CDRE)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $45.45, but opened at $47.71. Cadre shares last traded at $45.88, with a volume of 133,059 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDRE. Zacks Research raised shares of Cadre from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cadre in a report on Monday, December 29th. Roth Mkm increased their price target on Cadre from $49.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. B. Riley Financial reaffirmed a “buy” rating on shares of Cadre in a research note on Thursday, November 6th. Finally, CJS Securities raised shares of Cadre to a “strong-buy” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cadre presently has an average rating of “Buy” and a consensus price target of $43.00.

Cadre Price Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 3.64 and a quick ratio of 2.58. The business’s fifty day moving average price is $42.43 and its 200-day moving average price is $39.84. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 1.51 and a beta of 1.34.

Cadre Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were paid a $0.10 dividend. This is a positive change from Cadre’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, January 30th. This represents a $0.40 annualized dividend and a yield of 0.9%. Cadre’s dividend payout ratio (DPR) is 35.71%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenhouse Funds LLLP lifted its position in shares of Cadre by 1.7% during the 3rd quarter. Greenhouse Funds LLLP now owns 2,789,410 shares of the company’s stock valued at $101,841,000 after buying an additional 46,145 shares during the last quarter. Reinhart Partners LLC. raised its position in shares of Cadre by 12.9% in the fourth quarter. Reinhart Partners LLC. now owns 2,170,349 shares of the company’s stock worth $88,638,000 after buying an additional 247,458 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Cadre by 15.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,697,642 shares of the company’s stock valued at $61,981,000 after acquiring an additional 224,218 shares during the last quarter. State Street Corp lifted its position in Cadre by 6.7% during the fourth quarter. State Street Corp now owns 1,217,689 shares of the company’s stock valued at $49,730,000 after purchasing an additional 76,685 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Cadre by 30.6% in the third quarter. Capital Research Global Investors now owns 930,318 shares of the company’s stock worth $33,966,000 after acquiring an additional 217,864 shares in the last quarter. 43.95% of the stock is currently owned by hedge funds and other institutional investors.

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.