CBRE Group (CBRE) Upgraded by Zacks Investment Research to Hold

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CBRE Group (NYSE:CBRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Shares of CBRE Group have outperformed its industry over the past six months. Notably, the company’s extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals and healthy balance sheet are expected to be conducive to long-term results. However, with a shift towards a comparatively lower margin business, its margin is likely to be affected in the near term. Moreover, stiff competition from international, regional and local players, uneasiness in some economies and unfavorable foreign currency movement remain concerns for the company. Further, the rising interest rate environment is likely to affect capital markets’ activity going forward.”

Separately, Bank of America decreased their price objective on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.58.

CBRE Group stock traded up $0.91 during trading hours on Tuesday, hitting $47.67. The stock had a trading volume of 650,956 shares, compared to its average volume of 1,492,654. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.69. CBRE Group has a 1-year low of $37.45 and a 1-year high of $50.43.

In other news, Director Gerardo I. Lopez acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were bought at an average cost of $42.41 per share, for a total transaction of $212,050.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC purchased a new stake in shares of CBRE Group during the 4th quarter valued at about $27,000. Oregon Public Employees Retirement Fund raised its holdings in shares of CBRE Group by 1,895.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,377,536 shares of the financial services provider’s stock valued at $34,000 after buying an additional 1,308,488 shares during the period. Whitnell & Co. raised its holdings in shares of CBRE Group by 200.0% during the 4th quarter. Whitnell & Co. now owns 1,500 shares of the financial services provider’s stock valued at $60,000 after buying an additional 1,000 shares during the period. Quantamental Technologies LLC purchased a new stake in shares of CBRE Group during the 4th quarter valued at about $61,000. Finally, Patten Group Inc. raised its holdings in shares of CBRE Group by 20.2% during the 4th quarter. Patten Group Inc. now owns 1,580 shares of the financial services provider’s stock valued at $63,000 after buying an additional 265 shares during the period. Institutional investors own 94.34% of the company’s stock.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.

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