CBRE Group, Inc. (CBG - Free Report) has been named the top global real estate advisory firm for the sixth consecutive year in the annual edition of the Euromoney Real Estate Awards. According to Euromoney’s annual survey, the company also topped the global Sales/Leasing and Valuation services segment.
Euromoney is a preeminent finance publication which conducts annual surveys to ascertain the best real estate service providers.
CBRE Group has also been recognized as the leading real estate advisory firm in Asia, Western Europe, North America, Africa and Latin America, earning awards in 27 different countries. The company had received awards from 21 countries in the year 2016.
Bob Sulentic, president & chief executive officer of CBRE gave credit to the company’s “strong operating platform” as well as its employees and professionals. He said, “We are honored by this ongoing recognition from our clients and industry peers.”
Despite the challenging market scenario, the company continues to achieve strong revenue growth. In fact, from 2003 through the first-quarter 2017, the company’s revenue witnessed a CAGR of 16%.
Moreover, CBRE’s broad range of real estate products and services, and an extensive knowledge of domestic and international real estate markets provide the company a competitive edge over its domestic peers. It banks on strategic in-fill acquisitions to widen its geographic reach, expand and reinforce service offerings.
On Aug 9, this Los Angeles, CA-based commercial real estate services and investment firm announced the completion of the acquisition of majority stake in Toronto-based infrastructure and private equity solutions provider — Caledon Capital Management Inc. — for an undisclosed amount. The move complements the CBRE Global Investors’ service offerings, enhancing the set of infrastructure investment programs.
Also, shares of this Zacks Rank #1 (Strong Buy) company have outperformed its industry, year to date. While the stock has gained 5.1%, the industry recorded growth of 2.7% during this period.
Moreover, the Zacks Consensus Estimate for current-year earnings moved 1.6% upward to $2.56 in a month’s time. Its 2018 earning estimate has also inched up 0.8% to $2.66 during the same time frame.
Other Key Picks
Other top-ranked stocks in the real estate space include FirstService Corporation (FSV - Free Report) , St. Joe Company and Gazit Globe Ltd (GZT - Free Report) . All three stocks flaunt a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the last 60 days, FirstService’s earnings estimates for full-year 2017 inched up 1.5% to $1.97.
St. Joe’s 2017 earnings estimates haved moved up by a cent to four cents during the same time frame.
Gazit Globe earnings estimates for the current year moved 16.3% upward to 93 cents in a month’s time.
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