Cadre (NYSE:CDRE) Shares Gap Up – Should You Buy?
by Sarita Garza · The Markets DailyCadre Holdings, Inc. (NYSE:CDRE – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $30.86, but opened at $32.68. Cadre shares last traded at $33.25, with a volume of 53,502 shares changing hands.
Analysts Set New Price Targets
A number of brokerages recently commented on CDRE. Jefferies Financial Group set a $40.00 price target on Cadre in a research report on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on shares of Cadre in a research note on Monday. They set an “overweight” rating and a $40.00 price objective on the stock. Weiss Ratings lowered shares of Cadre from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Zacks Research upgraded shares of Cadre from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, Roth Capital reaffirmed a “buy” rating and set a $40.00 price target on shares of Cadre in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cadre presently has an average rating of “Moderate Buy” and an average target price of $39.80.
Check Out Our Latest Stock Report on CDRE
Cadre Price Performance
The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.26. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 36.45 and a beta of 1.33. The business has a fifty day moving average price of $29.46 and a 200 day moving average price of $34.30.
Cadre Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. Cadre’s dividend payout ratio is 44.94%.
Insider Buying and Selling at Cadre
In related news, CEO Warren B. Kanders sold 50,000 shares of Cadre stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $27.43, for a total transaction of $1,371,500.00. Following the sale, the chief executive officer directly owned 9,617,039 shares of the company’s stock, valued at approximately $263,795,379.77. The trade was a 0.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 175,000 shares of company stock valued at $5,091,500. Company insiders own 30.10% of the company’s stock.
Institutional Trading of Cadre
A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in Cadre by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 13,991 shares of the company’s stock valued at $446,000 after buying an additional 438 shares in the last quarter. Assetmark Inc. increased 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 worth $58,000 after buying an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cadre by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,451 shares of the company’s stock valued at $458,000 after acquiring an additional 628 shares during the last quarter. Mariner LLC lifted its stake in shares of Cadre by 6.1% in the 3rd quarter. Mariner LLC now owns 11,174 shares of the company’s stock valued at $408,000 after acquiring an additional 643 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Cadre by 3.2% during the 2nd quarter. Sei Investments Co. now owns 21,040 shares of the company’s stock valued at $670,000 after acquiring an additional 651 shares in 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.