Delta Global Management LP Trims Stake in CBRE Group, Inc. $CBRE

Delta Global Management LP lessened its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 51.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,082 shares of the financial services provider’s stock after selling 123,471 shares during the quarter. CBRE Group comprises about 1.3% of Delta Global Management LP’s investment portfolio, making the stock its 28th biggest position. Delta Global Management LP’s holdings in CBRE Group were worth $15,589,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CBRE. Swiss RE Ltd. purchased a new stake in shares of CBRE Group in the fourth quarter valued at $25,000. Navalign LLC purchased a new stake in CBRE Group during the 4th quarter worth about $29,000. Ascentis Independent Advisors purchased a new stake in CBRE Group during the 1st quarter worth about $30,000. Cassaday & Co Wealth Management LLC acquired a new position in CBRE Group in the 1st quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in CBRE Group in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CBRE shares. Barclays raised their price target 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. UBS Group reissued a “buy” rating on shares of CBRE Group in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods raised their target price on shares of CBRE Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Evercore set a $169.00 target price on shares of CBRE Group in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded CBRE Group from a “hold” rating to a “buy” rating in a report on Saturday. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and an average target price of $178.86.

Insider Activity

In related news, CFO Emma E. Giamartino sold 2,250 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $130.74, for a total value of $294,165.00. Following the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.46% of the company’s stock.

CBRE Group Stock Up 2.9%

Shares of NYSE:CBRE opened at $139.50 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $40.85 billion, a price-to-earnings ratio of 31.78 and a beta of 1.20. The stock’s 50-day moving average price is $134.36 and its two-hundred day moving average price is $143.99. CBRE Group, Inc. has a 12-month low of $121.69 and a 12-month high of $174.27.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.48. The company had revenue of $10.53 billion during the quarter, compared to the consensus estimate of $10.22 billion. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. On average, research analysts forecast that CBRE Group, Inc. will post 7.75 EPS for the current 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.