Westpac Banking Corp Boosts Stake in CBRE Group, Inc. $CBRE

Westpac Banking Corp grew its stake in CBRE Group, Inc. (NYSE:CBRE) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,765 shares of the financial services provider’s stock after acquiring an additional 628 shares during the quarter. Westpac Banking Corp’s holdings in CBRE Group were worth $4,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. WPG Advisers LLC purchased a new position in CBRE Group in the first quarter valued at about $26,000. NewSquare Capital LLC boosted its holdings in shares of CBRE Group by 40.7% in the 2nd quarter. NewSquare Capital LLC now owns 235 shares of the financial services provider’s stock valued at $33,000 after buying an additional 68 shares in the last quarter. Quarry LP boosted its holdings in shares of CBRE Group by 97.4% in the 1st quarter. Quarry LP now owns 298 shares of the financial services provider’s stock valued at $39,000 after buying an additional 147 shares in the last quarter. Accredited Wealth Management LLC grew its position in shares of CBRE Group by 338.7% in the 1st quarter. Accredited Wealth Management LLC now owns 329 shares of the financial services provider’s stock worth $43,000 after buying an additional 254 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of CBRE Group during the 1st quarter worth approximately $56,000. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CBRE. Weiss Ratings restated a “buy (b-)” rating on shares of CBRE Group in a research note on Wednesday, October 8th. Raymond James Financial raised their price objective on CBRE Group from $163.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on CBRE Group from $143.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Morgan Stanley increased their price target on CBRE Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CBRE Group from $167.00 to $168.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $171.89.

CBRE Group Stock Up 0.3%

Shares of CBRE stock opened at $153.57 on Friday. CBRE Group, Inc. has a fifty-two week low of $108.45 and a fifty-two week high of $171.00. The firm has a market capitalization of $45.70 billion, a PE ratio of 37.92 and a beta of 1.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50-day simple moving average is $157.49 and its 200-day simple moving average is $146.94.

CBRE Group (NYSE:CBRE) last released its earnings results 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 firm had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.11 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. Equities analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

CBRE Group Profile

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.