CBRE Group, Inc. (NYSE:CBRE) Shares Sold by Land & Buildings Investment Management LLC

Land & Buildings Investment Management LLC cut its holdings in shares of CBRE Group, Inc. (NYSE:CBRE) by 9.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,643 shares of the financial services provider’s stock after selling 27,397 shares during the period. CBRE Group comprises approximately 5.8% of Land & Buildings Investment Management LLC’s investment portfolio, making the stock its 8th biggest position. Land & Buildings Investment Management LLC owned 0.09% of CBRE Group worth $24,563,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CBRE. Wellington Management Group LLP grew its holdings in shares of CBRE Group by 164.1% during the 4th quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Swedbank AB acquired a new stake in CBRE Group in the first quarter valued at approximately $162,576,000. Parnassus Investments LLC bought a new stake in shares of CBRE Group during the fourth quarter worth $104,277,000. Harris Associates L P increased its holdings in shares of CBRE Group by 4.5% during the fourth quarter. Harris Associates L P now owns 16,005,141 shares of the financial services provider’s stock worth $1,489,919,000 after buying an additional 683,225 shares in the last quarter. Finally, Delta Global Management LP increased its holdings in shares of CBRE Group by 266.2% during the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock worth $52,877,000 after buying an additional 395,297 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Price Performance

Shares of NYSE CBRE opened at $121.81 on Tuesday. The company has a market capitalization of $37.37 billion, a PE ratio of 37.95 and a beta of 1.40. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.36. CBRE Group, Inc. has a twelve month low of $64.63 and a twelve month high of $122.83. The firm has a fifty day simple moving average of $111.55 and a 200 day simple moving average of $97.54.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a return on equity of 12.74% and a net margin of 2.79%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. On average, sell-side analysts forecast that CBRE Group, Inc. will post 4.81 EPS for the current year.

Insider Activity

In related news, Director Christopher T. Jenny sold 10,847 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the transaction, the director now directly owns 51,244 shares of the company’s stock, valued at $5,739,328. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $108.89, for a total transaction of $116,947.86. Following the completion of the sale, the chief operating officer now owns 69,226 shares in the company, valued at $7,538,019.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christopher T. Jenny sold 10,847 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total value of $1,214,864.00. Following the transaction, the director now directly owns 51,244 shares in the company, valued at $5,739,328. The disclosure for this sale can be found here. Insiders sold 27,232 shares of company stock worth $3,058,787 in the last quarter. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CBRE. UBS Group reduced their price objective on CBRE Group from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods lifted their target price on shares of CBRE Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Morgan Stanley started coverage on shares of CBRE Group in a report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 target price on the stock. Raymond James raised their price target on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $100.00 to $123.00 in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.33.

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.