Zacks Research Upgrades Cadre (NYSE:CDRE) to Hold

Cadre (NYSE:CDRE) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cadre in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Cadre from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings downgraded shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Jefferies Financial Group set a $40.00 target price on shares of Cadre in a research report on Wednesday, May 13th. Finally, Lake Street Capital reiterated a “buy” rating and set a $53.00 target price on shares of Cadre in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cadre presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Cadre Trading Down 1.1%

NYSE:CDRE opened at $29.90 on Thursday. The firm’s fifty day moving average is $30.63 and its 200-day moving average is $37.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.26. Cadre has a 52 week low of $25.73 and a 52 week high of $48.76. The firm has a market cap of $1.28 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.01 and a beta of 1.32.

Cadre (NYSE:CDRE) last posted 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). Cadre had a net margin of 5.80% and a return on equity of 12.39%. The firm had revenue of $167.22 million during the quarter, compared to the consensus estimate of $182.94 million. During the same period in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities analysts expect that Cadre will post 1.34 earnings per share for the current year.

Insider Activity

In related news, CEO Warren B. Kanders sold 100,000 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $31.40, for a total transaction of $3,140,000.00. Following the transaction, the chief executive officer owned 10,017,039 shares in the company, valued at $314,535,024.60. The trade was a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 30.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Cadre by 3.0% during the first quarter. Bank of America Corp DE now owns 562,778 shares of the company’s stock worth $17,266,000 after buying an additional 16,538 shares during the last quarter. Royal Bank of Canada raised its holdings in Cadre by 234.4% during the first quarter. Royal Bank of Canada now owns 8,557 shares of the company’s stock worth $262,000 after buying an additional 5,998 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Cadre by 39.4% during the first quarter. Quantinno Capital Management LP now owns 13,508 shares of the company’s stock worth $414,000 after buying an additional 3,820 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Cadre by 6.0% during the first quarter. Renaissance Technologies LLC now owns 167,200 shares of the company’s stock worth $5,130,000 after buying an additional 9,400 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in Cadre by 15.6% during the first quarter. Gabelli Funds LLC now owns 14,667 shares of the company’s stock worth $450,000 after buying an additional 1,980 shares during the last quarter. Institutional investors and hedge funds 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.