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CBRE Group Declares Acquisition of Ohio-Based Skye Group
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CBRE Group, Inc. , the Los Angeles-based commercial real estate services and investment firm has made the announcement of acquiring Skye Group (“Skye”). This acquisition of Cleveland, Ohio-based Skye, which is engaged in providing retail project management, shopping center development and tenant coordination services throughout North America, is expected to strengthen the retail project management service offerings of CBRE Group.
Founded in 2000 by Bradley Sanders, Skye’s clients include several top-notch companies. The firm has turned into a reliable and efficient solution provider for shopping center investors and occupiers. Acquisition of Skye will bolster CBRE Group’s position in the retail real estate sector in the U.S. and is a good fit to its robust retail service line offerings.
For Skye, joining CBRE Group is a good fit as the former’s retail clients will benefit from the latter’s wide-ranging occupier and investor solutions.
Shares of CBRE Group recorded a loss of 6.5% as against a gain of 0.7% posted by the Zacks categorized Real Estate Operations industry, year to date. Moreover, the company’s current-year estimates declined 0.5% to $2.17 per share over the past 30 days.
CBRE Group currently carries a Zacks Rank #3 (Hold).
Seritage Growth Properties’ current-year FFO estimates have moved up 0.9% to $2.34 per share over the past 60 days.
DCT Industrial Trust’s current-year FFO estimates have moved up 2.3% over the past 60 days to $2.24 per share.
American Tower Corporation’s current-year FFO estimates have moved up 1.1% over the past 60 days to $5.55 per share.
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CBRE Group Declares Acquisition of Ohio-Based Skye Group
CBRE Group, Inc. , the Los Angeles-based commercial real estate services and investment firm has made the announcement of acquiring Skye Group (“Skye”). This acquisition of Cleveland, Ohio-based Skye, which is engaged in providing retail project management, shopping center development and tenant coordination services throughout North America, is expected to strengthen the retail project management service offerings of CBRE Group.
Founded in 2000 by Bradley Sanders, Skye’s clients include several top-notch companies. The firm has turned into a reliable and efficient solution provider for shopping center investors and occupiers. Acquisition of Skye will bolster CBRE Group’s position in the retail real estate sector in the U.S. and is a good fit to its robust retail service line offerings.
For Skye, joining CBRE Group is a good fit as the former’s retail clients will benefit from the latter’s wide-ranging occupier and investor solutions.
Shares of CBRE Group recorded a loss of 6.5% as against a gain of 0.7% posted by the Zacks categorized Real Estate Operations industry, year to date. Moreover, the company’s current-year estimates declined 0.5% to $2.17 per share over the past 30 days.
CBRE Group currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the real estate space include Seritage Growth Properties (SRG - Free Report) , DCT Industrial Trust Inc. and American Tower Corporation (AMT - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Seritage Growth Properties’ current-year FFO estimates have moved up 0.9% to $2.34 per share over the past 60 days.
DCT Industrial Trust’s current-year FFO estimates have moved up 2.3% over the past 60 days to $2.24 per share.
American Tower Corporation’s current-year FFO estimates have moved up 1.1% over the past 60 days to $5.55 per share.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>