Key Points
- CEO Warren Kanders sold 100,000 Cadre shares at an average price of $33.36, generating $3.336 million. His remaining stake totals approximately 9.52 million shares, a 1.04% reduction.
- Cadre’s latest quarterly results exceeded expectations, with earnings per share of $0.26 versus the $0.22 consensus and revenue of $207.13 million compared with the $178.29 million estimate.
- Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $45.00, while Cadre pays a quarterly dividend of $0.10 per share.
Cadre Holdings, Inc. (NYSE:CDRE - Get Free Report) CEO Warren Kanders sold 100,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 9,517,039 shares in the company, valued at $317,488,421.04. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Cadre Price Performance
Shares of NYSE:CDRE opened at $31.60 on Thursday. Cadre Holdings, Inc. has a 12 month low of $25.73 and a 12 month high of $48.76. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.05 and a beta of 1.32. The stock's 50 day moving average price is $30.68 and its 200 day moving average price is $32.75. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.14 and a quick ratio of 1.35.
Cadre (NYSE:CDRE - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The firm 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 anticipate that Cadre Holdings, Inc. will post 1.33 earnings per share for the current fiscal year.
Cadre Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, July 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, July 31st. Cadre's payout ratio is currently 47.06%.
Institutional Investors Weigh In On Cadre
A number of institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV acquired a new position in shares of Cadre in the 1st quarter worth $41,000. Danske Bank A S raised its position in shares of Cadre by 400.0% during the fourth quarter. Danske Bank A S now owns 1,500 shares of the company's stock worth $61,000 after purchasing an additional 1,200 shares during the period. State of Wyoming purchased a new stake in shares of Cadre during the fourth quarter valued at $65,000. Assetmark Inc. lifted its holdings in shares of Cadre by 34.6% during the first 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 boosted 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 period. Institutional investors and hedge funds own 43.95% of the company's stock.
Analyst Upgrades and Downgrades
CDRE has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Cadre from $40.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Zacks Research upgraded shares of Cadre from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 4th. DA Davidson upped their price target on shares of Cadre from $40.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of Cadre from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $43.00 price objective on shares of Cadre in a research note on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.00.
Get Our Latest Stock Report on CDRE
Cadre Company Profile
(
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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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