Rakuten Investment Management Inc. Invests $14.71 Million in CBRE Group, Inc. $CBRE

Rakuten Investment Management Inc. acquired a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) during the third quarter, according to its most recent filing with the SEC. The fund acquired 93,363 shares of the financial services provider’s stock, valued at approximately $14,710,000.

Other institutional investors have also added to or reduced their stakes in the company. Obermeyer Wealth Partners grew its holdings in CBRE Group by 2.8% during the 2nd quarter. Obermeyer Wealth Partners now owns 2,432 shares of the financial services provider’s stock valued at $341,000 after buying an additional 66 shares in the last quarter. NewSquare Capital LLC lifted its holdings in shares of CBRE Group by 40.7% in the second quarter. NewSquare Capital LLC now owns 235 shares of the financial services provider’s stock worth $33,000 after buying an additional 68 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of CBRE Group by 1.6% in the second quarter. Fidelis Capital Partners LLC now owns 4,292 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 69 shares during the period. Advisors Capital Management LLC boosted its position in shares of CBRE Group by 4.0% in the second quarter. Advisors Capital Management LLC now owns 1,882 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 73 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in CBRE Group by 3.6% during the second quarter. Evergreen Capital Management LLC now owns 2,187 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE Group stock opened at $170.18 on Thursday. The firm has a market capitalization of $50.64 billion, a PE ratio of 42.02 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.49. CBRE Group, Inc. has a 12 month low of $108.45 and a 12 month high of $173.05. The business’s 50-day moving average price is $161.43 and its 200-day moving average price is $157.49.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.15. CBRE Group had a return on equity of 20.55% and a net margin of 3.12%.The business had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. CBRE Group’s revenue for the quarter was up 13.5% on a year-over-year basis. Sell-side analysts forecast that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CBRE has been the topic of several recent analyst reports. Barclays increased their target price on shares of CBRE Group from $190.00 to $192.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. Morgan Stanley lifted their price target on CBRE Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of CBRE Group in a report on Wednesday, October 8th. UBS Group raised their target price on shares of CBRE Group from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $185.00 to $192.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and an average target price of $182.14.

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.