Deutsche Bank AG Takes $960,000 Position in Cadre Holdings, Inc. $CDRE

Key Points

• Deutsche Bank initiated a $960,000 position in Cadre Holdings during the second quarter by purchasing 33,689 shares. Institutional investors collectively own 43.95% of the company.
• Analysts remain generally positive, with an average rating of “Moderate Buy” and a $45 price target. Recent targets range from $43 to $45, while Cadre’s shares opened at $30.81.
• Cadre exceeded quarterly expectations, reporting adjusted EPS of $0.26 versus a $0.22 estimate and revenue of $207.13 million versus $178.29 million expected. The company also maintains a quarterly dividend of $0.10 per share, although insiders have sold 275,000 shares worth $8.43 million over the past 90 days.

Deutsche Bank AG bought a new position in shares of Cadre Holdings, Inc. (NYSE:CDRE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,689 shares of the company's stock, valued at approximately $960,000. Deutsche Bank AG owned approximately 0.08% of Cadre at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new position in shares of Cadre during the 2nd quarter valued at $5,082,000. State of Wyoming bought a new position in Cadre in the 2nd quarter worth about $61,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Cadre by 5.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,380 shares of the company's stock valued at $2,605,000 after acquiring an additional 4,386 shares in the last quarter. Reinhart Partners LLC. boosted its position in shares of Cadre by 22.4% during the 2nd quarter. Reinhart Partners LLC. now owns 2,738,373 shares of the company's stock valued at $78,071,000 after acquiring an additional 500,476 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Cadre by 3.0% during the 1st quarter. Bank of America Corp DE now owns 562,778 shares of the company's stock valued at $17,266,000 after acquiring an additional 16,538 shares during the last quarter. Institutional investors own 43.95% of the company's stock.

Wall Street Analysts Forecast Growth

CDRE has been the subject of several research reports. Roth Capital reiterated a "buy" rating and issued a $43.00 target price (up from $40.00) on shares of Cadre in a research report on Monday, August 10th. UBS Group set a $43.00 price target on Cadre in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their price objective on Cadre from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Cadre in a research report on Monday, August 17th. Finally, Wall Street Zen raised Cadre from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $45.00.

Insider Buying and Selling

In related news, CEO Warren B. Kanders sold 100,000 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $33.36, for a total transaction of $3,336,000.00. Following the sale, the chief executive officer owned 9,517,039 shares of the company's stock, valued at $317,488,421.04. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 275,000 shares of company stock worth $8,427,500 over the last 90 days. Insiders own 30.10% of the company's stock.

Cadre Trading Up 0.2%

CDRE opened at $30.81 on Monday. The company has a quick ratio of 1.35, a current ratio of 2.14 and a debt-to-equity ratio of 1.02. Cadre Holdings, Inc. has a 52 week low of $25.73 and a 52 week high of $48.76. The stock has a market cap of $1.32 billion, a PE ratio of 36.25, a PEG ratio of 1.03 and a beta of 1.32. The business has a 50 day moving average of $30.80 and a 200-day moving average of $32.60.

Cadre (NYSE:CDRE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The business had revenue of $207.13 million during the quarter, compared to the consensus estimate of $178.29 million. Cadre had a return on equity of 12.02% and a net margin of 5.26%. Equities research analysts predict that Cadre Holdings, Inc. will post 1.33 earnings per share for the current fiscal year.

Cadre Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, July 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, July 31st. Cadre's dividend payout ratio (DPR) is 47.06%.

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.

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