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CBRE Retains Top Spot in Global Investment Sales in 2023
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CBRE Group, Inc. (CBRE - Free Report) again secured the top spot in commercial real estate investment sales globally in 2023, according to MSCI Real Assets rankings. This marks the 13th consecutive year of the company securing the top position.
Per MSCI Real Assets, CBRE had a 24% market share across all property types on a global basis in 2023. This is a massive 800-basis point lead over the closest competitor.
Across asset categories, CBRE held the top spot in MSCI Real Assets’ global rankings across the four largest asset classes. CBRE enjoyed a 23% market share in the office category, 29% in industrial and 22% in retail as well as the multifamily category.
Last month, CBRE Group came up with its encouraging results for the fourth quarter of 2023, with the core EPS of $1.38 surpassing the Zacks Consensus Estimate of $1.21. Quarterly revenues of $8.95 billion also compared favorably with the Zacks Consensus Estimate of $8.62 billion. Results reflected growth in its resilient lines of business, led by Global Workplace Solutions. It also witnessed fourth-quarter year-over-year growth in operating profit across all three business segments.
CBRE Group is poised to benefit from its wide range of real estate products and services and an extensive knowledge of domestic and international real estate markets. It has opted for a better-balanced and more resilient business model in the past years and continues to gain from its diversification efforts.
The outsourcing business remains healthy, and its pipeline is likely to remain elevated, offering it scope for growth. Strategic buyouts and technology investments are expected to drive its performance. CBRE also enjoys a solid balance sheet.
However, persistent macroeconomic uncertainties and its adverse impact on commercial real estate transactions are weighing on its profitability. Global political tension and interest rate hikes add to its woes. Nevertheless, the company’s market-leading position is likely to give it a competitive edge in navigating through the current challenges and capitalizing on compelling opportunities.
Currently, CBRE has a Zacks Rank #3 (Hold). Over the past three months, the stock has rallied 2.9%, while its industry has advanced 0.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader real estate sector are Newmark Group, Inc. (NMRK - Free Report) and Forestar Group Inc. (FOR - Free Report) . While Forestar Group sports a Zacks Rank #1 (Strong Buy), Newmark Group carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newmark Group’s 2024 earnings per share has moved 3.7% north to $1.12 over the past month.
The Zacks Consensus Estimate for Forestar Group’s fiscal 2024 earnings per share has been raised 20.2% over the past two months to $3.93.
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CBRE Retains Top Spot in Global Investment Sales in 2023
CBRE Group, Inc. (CBRE - Free Report) again secured the top spot in commercial real estate investment sales globally in 2023, according to MSCI Real Assets rankings. This marks the 13th consecutive year of the company securing the top position.
Per MSCI Real Assets, CBRE had a 24% market share across all property types on a global basis in 2023. This is a massive 800-basis point lead over the closest competitor.
Across asset categories, CBRE held the top spot in MSCI Real Assets’ global rankings across the four largest asset classes. CBRE enjoyed a 23% market share in the office category, 29% in industrial and 22% in retail as well as the multifamily category.
Last month, CBRE Group came up with its encouraging results for the fourth quarter of 2023, with the core EPS of $1.38 surpassing the Zacks Consensus Estimate of $1.21. Quarterly revenues of $8.95 billion also compared favorably with the Zacks Consensus Estimate of $8.62 billion. Results reflected growth in its resilient lines of business, led by Global Workplace Solutions. It also witnessed fourth-quarter year-over-year growth in operating profit across all three business segments.
CBRE Group is poised to benefit from its wide range of real estate products and services and an extensive knowledge of domestic and international real estate markets. It has opted for a better-balanced and more resilient business model in the past years and continues to gain from its diversification efforts.
The outsourcing business remains healthy, and its pipeline is likely to remain elevated, offering it scope for growth. Strategic buyouts and technology investments are expected to drive its performance. CBRE also enjoys a solid balance sheet.
However, persistent macroeconomic uncertainties and its adverse impact on commercial real estate transactions are weighing on its profitability. Global political tension and interest rate hikes add to its woes. Nevertheless, the company’s market-leading position is likely to give it a competitive edge in navigating through the current challenges and capitalizing on compelling opportunities.
Currently, CBRE has a Zacks Rank #3 (Hold). Over the past three months, the stock has rallied 2.9%, while its industry has advanced 0.8%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader real estate sector are Newmark Group, Inc. (NMRK - Free Report) and Forestar Group Inc. (FOR - Free Report) . While Forestar Group sports a Zacks Rank #1 (Strong Buy), Newmark Group carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Newmark Group’s 2024 earnings per share has moved 3.7% north to $1.12 over the past month.
The Zacks Consensus Estimate for Forestar Group’s fiscal 2024 earnings per share has been raised 20.2% over the past two months to $3.93.