Waterfront Capital Partners LLC Purchases Shares of 230,612 CBRE Group, Inc. (NYSE:CBRE)

Waterfront Capital Partners LLC acquired a new stake in CBRE Group, Inc. (NYSE:CBRE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 230,612 shares of the financial services provider’s stock, valued at approximately $28,707,000. CBRE Group accounts for 3.9% of Waterfront Capital Partners LLC’s portfolio, making the stock its 7th biggest holding. Waterfront Capital Partners LLC owned 0.08% of CBRE Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC bought a new stake in shares of CBRE Group in the third quarter valued at approximately $27,000. American National Bank & Trust bought a new position in CBRE Group in the third quarter worth $28,000. Benjamin F. Edwards & Company Inc. lifted its position in CBRE Group by 190.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares during the period. Ashton Thomas Securities LLC bought a new position in CBRE Group in the third quarter worth $32,000. Finally, Wolff Wiese Magana LLC lifted its position in CBRE Group by 2,830.0% in the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 283 shares during the period. 98.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBRE shares. Evercore ISI raised their target price on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Citigroup lifted their price objective on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday. Wolfe Research raised CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

CBRE Group Stock Performance

Shares of NYSE:CBRE opened at $140.71 on Friday. CBRE Group, Inc. has a twelve month low of $78.18 and a twelve month high of $142.00. The firm has a market cap of $43.06 billion, a PE ratio of 45.24 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day moving average of $128.43 and a 200-day moving average of $109.95.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. On average, equities research analysts predict that CBRE Group, Inc. will post 4.99 EPS for the current fiscal year.

Insider Transactions at CBRE Group

In other news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total transaction of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares in the company, valued at $24,894,168.98. The trade was a 4.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the transaction, the chief financial officer now owns 70,154 shares in the company, valued at $9,214,026.36. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

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.