Wall Street Zen Upgrades Cadre (NYSE:CDRE) to Buy

Key Points

• Wall Street Zen upgraded Cadre from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating and an average analyst price target of $40.80.
• Cadre reported quarterly EPS of $0.26, beating estimates by $0.04, while revenue of $207.13 million exceeded expectations of $178.29 million.
• Cadre shares opened at $32.98, with a $1.41 billion market capitalization; insiders own 30.10% of the stock, while institutional investors and hedge funds own 43.95%.

Cadre (NYSE:CDRE - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the company. Weiss Ratings cut Cadre from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Jefferies Financial Group set a $40.00 price objective on Cadre in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on Cadre from $40.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday. Roth Capital restated a "buy" rating and set a $40.00 target price on shares of Cadre in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Cadre from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Cadre Price Performance

Cadre stock opened at $32.98 on Friday. The company's 50 day simple moving average is $29.78 and its 200-day simple moving average is $33.60. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 38.80 and a beta of 1.32. Cadre has a 1 year low of $25.73 and a 1 year high of $48.76. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.33 and a current ratio of 2.14.

Cadre (NYSE:CDRE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $207.13 million for the quarter, compared to analyst estimates of $178.29 million. Cadre had a net margin of 5.26% and a return on equity of 12.02%. As a group, equities research analysts expect that Cadre will post 1.47 earnings per share for the current year.

Insiders Place Their Bets

In other Cadre news, CEO Warren B. Kanders sold 50,000 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $27.43, for a total transaction of $1,371,500.00. Following the sale, the chief executive officer owned 9,617,039 shares in the company, valued at $263,795,379.77. This represents a 0.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 175,000 shares of company stock worth $5,091,500. 30.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cadre

A number of institutional investors and hedge funds have recently made changes to their positions in CDRE. KBC Group NV acquired a new stake in Cadre in the first quarter valued at approximately $41,000. Danske Bank A S lifted its stake in Cadre by 400.0% in the fourth quarter. Danske Bank A S now owns 1,500 shares of the company's stock worth $61,000 after acquiring an additional 1,200 shares during the last quarter. State of Wyoming acquired a new position in Cadre during the 4th quarter worth approximately $65,000. Assetmark Inc. increased its position in shares of Cadre by 34.6% in the 1st quarter. Assetmark Inc. now owns 1,878 shares of the company's stock valued at $58,000 after purchasing an additional 483 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Cadre by 110.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,283 shares of the company's stock valued at $136,000 after purchasing an additional 2,246 shares during the last quarter. 43.95% of the stock is owned by institutional investors and hedge funds.

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.

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