CBRE Group (NYSE:CBRE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CBRE Group (NYSE:CBRE) from a hold rating to a buy rating in a research note released on Saturday morning.

CBRE has been the subject of a number of other reports. Jefferies Financial Group reiterated a “buy” rating on shares of CBRE Group in a report on Friday, May 15th. Keefe, Bruyette & Woods raised their price target on shares of CBRE Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Evercore set a $169.00 price objective on shares of CBRE Group in a research report on Tuesday, June 30th. Barclays boosted their price objective on shares of CBRE Group from $175.00 to $178.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, UBS Group reissued a “buy” rating on shares of CBRE Group in a research report on Wednesday, June 17th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, CBRE Group presently has an average rating of “Moderate Buy” and an average target price of $178.86.

CBRE Group Trading Up 3.3%

Shares of NYSE CBRE opened at $144.06 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $42.18 billion, a P/E ratio of 32.82 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 business has a fifty day moving average price of $134.63 and a 200 day moving average price of $143.69.

Insider Buying and Selling

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the sale, the chief financial officer owned 110,729 shares of the company’s stock, valued at approximately $14,476,709.46. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On CBRE Group

Hedge funds have recently modified their holdings of the stock. Tema ETFs LLC increased its stake in CBRE Group by 9.8% during the 2nd quarter. Tema ETFs LLC now owns 4,875 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 435 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of CBRE Group by 106.5% during the second quarter. Handelsbanken Fonder AB now owns 131,177 shares of the financial services provider’s stock worth $17,668,000 after buying an additional 67,640 shares during the period. Prosperity Planning Inc. grew its holdings in shares of CBRE Group by 5.7% during the second quarter. Prosperity Planning Inc. now owns 38,501 shares of the financial services provider’s stock valued at $5,186,000 after buying an additional 2,072 shares during the last quarter. Czech National Bank grew its holdings in shares of CBRE Group by 5.3% during the second quarter. Czech National Bank now owns 83,347 shares of the financial services provider’s stock valued at $11,226,000 after buying an additional 4,213 shares during the last quarter. Finally, Mechanics Bank Trust Department increased its position in shares of CBRE Group by 15.8% in the 2nd quarter. Mechanics Bank Trust Department now owns 3,165 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 433 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Company Profile

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.