Condor Capital Management Buys Shares of 8,980 CBRE Group, Inc. $CBRE

Condor Capital Management bought a new position in shares of CBRE Group, Inc. (NYSE:CBRE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,980 shares of the financial services provider’s stock, valued at approximately $1,258,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nuveen LLC acquired a new position in CBRE Group in the 1st quarter worth $214,283,000. JPMorgan Chase & Co. lifted its holdings in shares of CBRE Group by 24.7% in the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider’s stock valued at $487,127,000 after purchasing an additional 738,704 shares in the last quarter. Invesco Ltd. boosted its position in shares of CBRE Group by 6.6% during the first quarter. Invesco Ltd. now owns 6,407,231 shares of the financial services provider’s stock worth $837,938,000 after buying an additional 397,818 shares during the period. Cornerstone Investment Partners LLC bought a new position in shares of CBRE Group during the second quarter worth about $48,383,000. Finally, Allspring Global Investments Holdings LLC raised its position in CBRE Group by 9.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,628,945 shares of the financial services provider’s stock valued at $513,931,000 after buying an additional 319,115 shares during the last quarter. 98.41% of the stock is owned by institutional investors.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $153.57 on Friday. The business’s 50 day moving average price is $157.49 and its two-hundred day moving average price is $146.77. The company has a market cap of $45.70 billion, a PE ratio of 37.92 and a beta of 1.39. 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, Inc. has a twelve month low of $108.45 and a twelve month high of $171.00.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $10.11 billion. During the same period last year, the firm posted $1.20 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. On average, analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current year.

Wall Street Analyst Weigh In

CBRE has been the subject of several research reports. Morgan Stanley raised their price target on shares of CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Raymond James Financial lifted their price target on shares of CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of CBRE Group from $143.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Evercore ISI raised their price objective on CBRE Group from $164.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, August 25th. Finally, Keefe, Bruyette & Woods upped their target price on CBRE Group from $167.00 to $168.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.89.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; 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.