CBRE Group (CBRE) Hits New 12-Month Low at $38.62
CBRE Group Inc (NYSE:CBRE) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $38.62 and last traded at $39.05, with a volume of 166944 shares. The stock had previously closed at $40.01.
CBRE has been the topic of a number of recent research reports. Zacks Investment Research raised shares of CBRE Group from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Monday, August 6th. Barclays lifted their price target on shares of CBRE Group from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, August 30th. Finally, ValuEngine cut shares of CBRE Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $52.19.
The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.08 and a beta of 1.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 1.13.
In other news, CEO William F. Concannon sold 28,878 shares of CBRE Group stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $47.47, for a total transaction of $1,370,838.66. Following the sale, the chief executive officer now owns 204,631 shares in the company, valued at $9,713,833.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in shares of CBRE Group in the first quarter worth $460,482,000. Swedbank bought a new stake in shares of CBRE Group in the second quarter worth $106,645,000. Millennium Management LLC bought a new stake in shares of CBRE Group in the first quarter worth $101,485,000. Dimensional Fund Advisors LP bought a new stake in shares of CBRE Group in the first quarter worth $80,259,000. Finally, Legal & General Group Plc bought a new stake in shares of CBRE Group in the first quarter worth $70,357,000. Institutional investors own 94.78% of the company’s stock.
CBRE Group Company Profile (NYSE:CBRE)
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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