Teacher Retirement System of Texas Sells 46,393 Shares of CBRE Group, Inc. $CBRE

Teacher Retirement System of Texas trimmed its position in CBRE Group, Inc. (NYSE:CBRE) by 13.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 296,926 shares of the financial services provider’s stock after selling 46,393 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of CBRE Group worth $46,784,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Donoghue Forlines LLC purchased a new stake in CBRE Group during the third quarter valued at $2,104,000. KBC Group NV grew its stake in shares of CBRE Group by 4.4% in the 2nd quarter. KBC Group NV now owns 248,956 shares of the financial services provider’s stock worth $34,883,000 after buying an additional 10,438 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of CBRE Group by 27.1% in the 3rd quarter. Nordea Investment Management AB now owns 406,963 shares of the financial services provider’s stock worth $63,474,000 after buying an additional 86,774 shares during the last quarter. Choreo LLC raised its position in shares of CBRE Group by 42.0% during the 2nd quarter. Choreo LLC now owns 10,129 shares of the financial services provider’s stock valued at $1,419,000 after buying an additional 2,995 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of CBRE Group by 57.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 829,150 shares of the financial services provider’s stock valued at $116,180,000 after acquiring an additional 301,980 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Down 0.1%

Shares of NYSE CBRE opened at $170.15 on Friday. The stock has a 50 day moving average price of $161.78 and a 200 day moving average price of $157.58. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of 42.01 and a beta of 1.34. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $173.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.13.

CBRE Group (NYSE:CBRE) last issued its earnings results on Thursday, October 23rd. The financial services provider reported $1.61 earnings per share 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 business had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same period in the previous year, the company posted $1.20 EPS. CBRE Group’s revenue was up 13.5% on a year-over-year basis. Sell-side analysts expect that CBRE Group, Inc. will post 5.99 earnings per share for the current year.

Wall Street Analyst Weigh In

CBRE has been the topic of several analyst reports. Barclays boosted their price objective on CBRE Group from $190.00 to $192.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. UBS Group boosted their target price on CBRE Group from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings restated a “buy (b-)” rating on shares of CBRE Group in a report on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Morgan Stanley boosted their price objective on shares of CBRE Group from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.14.

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.