Utah Retirement Systems Invests $3.37 Million in CBRE Group Inc (CBRE)
Utah Retirement Systems purchased a new stake in shares of CBRE Group Inc (NYSE:CBRE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 76,408 shares of the financial services provider’s stock, valued at approximately $3,371,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Andra AP fonden acquired a new stake in CBRE Group in the 3rd quarter valued at about $9,618,000. Retirement Systems of Alabama lifted its holdings in CBRE Group by 0.8% in the 3rd quarter. Retirement Systems of Alabama now owns 457,944 shares of the financial services provider’s stock valued at $20,195,000 after acquiring an additional 3,791 shares during the last quarter. First Quadrant L P CA acquired a new stake in CBRE Group in the 3rd quarter valued at about $18,766,000. HGK Asset Management Inc. acquired a new stake in CBRE Group in the 3rd quarter valued at about $424,000. Finally, Palo Capital Inc. acquired a new stake in CBRE Group in the 3rd quarter valued at about $1,069,000. 94.34% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. ValuEngine downgraded CBRE Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Bank of America cut their price objective on CBRE Group from $54.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Barclays boosted their price objective on CBRE Group from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 30th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. CBRE Group has an average rating of “Buy” and an average target price of $52.56.
NYSE CBRE opened at $42.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.00 and a beta of 1.78. CBRE Group Inc has a 1 year low of $38.05 and a 1 year high of $50.43.
CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The firm had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $5.17 billion. CBRE Group had a return on equity of 23.45% and a net margin of 4.32%. The company’s revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that CBRE Group Inc will post 3.2 earnings per share for the current year.
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About CBRE Group
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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