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Shares of CBRE Group Inc. (CBG - Analyst Report) reached a new 52-week high, touching $29.82 during the trading session on May 27. The closing price of $29.80 of this stock reflected a strong year-to-date return of over 13%. The trading volume for the session was nearly 2.0 million shares. The stock price gained pace following strong results in the first quarter.

Despite its strong price appreciation, this Zacks Rank #2 (Buy) stock has plenty of upside left, given the improving operating environment, the revisions in its estimates and its long-term expected growth rate of 13.5%.

Growth Drivers

On Apr 30, aided by higher revenues, CBRE reported first-quarter 2014 adjusted earnings of 25 cents per share, well ahead of the Zacks Consensus Estimate of 17 cents per share and up 56% year over year. Notably, the company experienced solid contributions from the acquisition of U.K.-based commercial building technical engineering services provider Norland Managed Services Ltd.

With market conditions continuing to improve, we believe that opportunistic acquisitions would serve as growth drivers, supplementing the company’s organic growth. Improving property sales, leasing and outsourcing business also augur well going forward.

Despite the regulatory limits on GSEs lending and unfavorable foreign currency movement, we believe that the strategic investments in people and platform stand good for the long-term perspective of this company and would help it to enhance its market share.

Echoing similar sentiments about the company, we notice that over the last 30 days, the Zacks Consensus Estimate for full-year 2014 and 2015 moved north by 1.3% and 0.6% to $1.60 and $1.82, respectively.

Other Stocks to Consider

In addition to CBRE, Cousins Properties Inc. (CUZ - Analyst Report), RLJ Lodging Trust (RLJ - Snapshot Report) and Host Hotels & Resorts, Inc. (HST - Analyst Report) also scaled 52-week highs on May 27.

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