SummitTX Capital L.P. Purchases 41,792 Shares of CBRE Group, Inc. $CBRE

SummitTX Capital L.P. increased its position in CBRE Group, Inc. (NYSE:CBRE) by 135.4% in the first quarter, HoldingsChannel reports. The firm owned 72,653 shares of the financial services provider’s stock after purchasing an additional 41,792 shares during the quarter. SummitTX Capital L.P.’s holdings in CBRE Group were worth $9,842,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC raised its holdings in CBRE Group by 1.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 4,408 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 59 shares in the last quarter. Community Bank & Trust Waco Texas boosted its holdings in shares of CBRE Group by 0.5% during the 4th quarter. Community Bank & Trust Waco Texas now owns 14,693 shares of the financial services provider’s stock valued at $2,362,000 after buying an additional 70 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of CBRE Group by 0.7% during the 4th quarter. Centersquare Investment Management LLC now owns 10,470 shares of the financial services provider’s stock valued at $1,683,000 after buying an additional 70 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of CBRE Group by 16.4% in the 4th quarter. Catalyst Capital Advisors LLC now owns 505 shares of the financial services provider’s stock worth $81,000 after buying an additional 71 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of CBRE Group by 1.7% in the 3rd quarter. NewEdge Advisors LLC now owns 4,367 shares of the financial services provider’s stock worth $688,000 after buying an additional 71 shares during the period. 98.41% of the stock is currently owned by institutional investors.

Insider Activity at CBRE Group

In other CBRE Group news, CFO Emma E. Giamartino sold 2,250 shares of CBRE Group stock in a transaction on Friday, May 15th. The stock was sold at an average price of $130.74, for a total value of $294,165.00. Following the completion of the sale, the chief financial officer 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CBRE. Evercore set a $169.00 price objective on shares of CBRE Group in a research note on Tuesday, June 30th. Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Saturday. Jefferies Financial Group reiterated a “buy” rating on shares of CBRE Group in a report on Friday, May 15th. Weiss Ratings cut CBRE Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods upped their price target on CBRE Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, CBRE Group currently has an average rating of “Moderate Buy” and a consensus price target of $178.86.

CBRE Group Price Performance

Shares of CBRE opened at $139.50 on Monday. The company has a market capitalization of $40.85 billion, a P/E ratio of 31.78 and a beta of 1.20. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $134.36 and a 200 day moving average of $143.85. CBRE Group, Inc. has a twelve month low of $121.69 and a twelve month high of $174.27.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.48. The company had revenue of $10.53 billion during the quarter, compared to analyst estimates of $10.22 billion. CBRE Group had a net margin of 3.11% and a return on equity of 24.08%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. As a group, equities research analysts anticipate that CBRE Group, Inc. will post 7.75 earnings per share 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.