CBRE Group (NYSE:CBRE) Upgraded by Wall Street Zen to “Buy” Rating

CBRE Group (NYSE:CBRE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also issued reports on CBRE. UBS Group reissued a “buy” rating on shares of CBRE Group in a research note on Wednesday, June 17th. Evercore set a $169.00 price target on shares of CBRE Group in a research note on Tuesday, June 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of CBRE Group in a report on Friday, May 15th. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Weiss Ratings lowered CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and a consensus price target of $178.86.

CBRE Group Stock Performance

CBRE stock opened at $139.50 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $40.85 billion, a price-to-earnings ratio of 31.78 and a beta of 1.20. CBRE Group has a 1 year low of $121.69 and a 1 year high of $174.27. The stock’s fifty day moving average is $134.36 and its two-hundred day moving average is $143.99.

CBRE Group (NYSE:CBRE) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.13 by $0.48. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The business had revenue of $10.53 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, research analysts predict that CBRE Group will post 7.75 EPS for the current year.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,250 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the transaction, the chief financial officer directly owned 110,729 shares in the company, valued at $14,476,709.46. This trade represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On CBRE Group

A number of institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its position in CBRE Group by 5.7% in the first quarter. QRG Capital Management Inc. now owns 135,635 shares of the financial services provider’s stock worth $18,373,000 after acquiring an additional 7,349 shares in the last quarter. Flputnam Investment Management Co. lifted its holdings in CBRE Group by 39.5% in the 4th quarter. Flputnam Investment Management Co. now owns 137,524 shares of the financial services provider’s stock valued at $22,112,000 after acquiring an additional 38,944 shares during the last quarter. Abacus Wealth Partners LLC bought a new position in shares of CBRE Group during the 4th quarter valued at about $2,147,000. Norges Bank acquired a new position in shares of CBRE Group in the 4th quarter worth approximately $643,405,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of CBRE Group by 5,115.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,017,355 shares of the financial services provider’s stock worth $163,581,000 after purchasing an additional 997,848 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.