Trek Financial LLC Purchases New Position in CBRE Group, Inc. $CBRE

Trek Financial LLC bought a new stake in CBRE Group, Inc. (NYSE:CBRE) in the 3rd quarter, Holdings Channel.com reports. The fund bought 29,643 shares of the financial services provider’s stock, valued at approximately $4,671,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CBRE. Donoghue Forlines LLC bought a new stake in CBRE Group in the 3rd quarter valued at $2,104,000. KBC Group NV boosted its position in shares of CBRE Group by 4.4% in the second quarter. KBC Group NV now owns 248,956 shares of the financial services provider’s stock valued at $34,883,000 after acquiring an additional 10,438 shares during the period. Nordea Investment Management AB grew its stake in shares of CBRE Group by 27.1% in the third quarter. Nordea Investment Management AB now owns 406,963 shares of the financial services provider’s stock valued at $63,474,000 after acquiring an additional 86,774 shares in the last quarter. Choreo LLC increased its position in CBRE Group by 42.0% during the second quarter. Choreo LLC now owns 10,129 shares of the financial services provider’s stock worth $1,419,000 after acquiring an additional 2,995 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in CBRE Group by 57.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 829,150 shares of the financial services provider’s stock worth $116,180,000 after purchasing an additional 301,980 shares in the last quarter. 98.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CBRE. 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 report on Tuesday, January 13th. UBS Group raised their price objective on CBRE Group from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CBRE Group in a research report on Wednesday. Morgan Stanley raised their price target on CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $182.14.

CBRE Group Trading Down 0.5%

CBRE traded down $0.92 during midday trading on Friday, hitting $169.25. 1,067,129 shares of the company were exchanged, compared to its average volume of 1,058,106. The firm’s 50 day moving average price is $162.09 and its 200-day moving average price is $157.76. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $173.05. The firm has a market capitalization of $50.37 billion, a P/E ratio of 41.79 and a beta of 1.34. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.49.

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

CBRE Group 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.