Cbre Group Stock Price, News & Analysis

CBRE Group, Inc. reported Q1 2023 results with GAAP EPS declining 68% to $0.37 and core EPS down 34% to $0.92. Revenue reached $7.411 billion, a slight increase of 1.1% year-over-year. However, net revenue fell 4.5% to $4.181 billion. The company faced a significant drop in property sales, leading to a 70.2% decrease in net income at $117 million. The Global Workplace Solutions segment saw an 11.1% revenue increase, while the Advisory Services segment reported a 17.5% revenue decline. Despite these challenges, CBRE maintains its full-year guidance, expecting core EPS to decline by low-to-mid double digits in 2023 before surpassing previous peaks in 2024. The company highlights resilience in certain business areas and cost management efforts.

The MainStay CBRE Global Infrastructure Megatrends Fund (NYSE: MEGI) has declared its monthly distribution of $0.1083 per common share for April 2023, representing an annualized distribution rate of 6.5% based on its IPO price of $20.00. The distribution schedule includes an ex-dividend date on April 21, 2023, a record date on April 24, 2023, and a payable date on April 28, 2023.

As of April 30, 2023, the current distribution is sourced primarily from net investment income, accounting for 68% of the total, while cumulative distributions for the fiscal year to date total $1.1913. It is notable that the Fund's annualized total return since inception is -5.08%.

CBRE Group, Inc. (NYSE:CBRE) has announced the appointment of Croft Young as Chief Investment Officer, effective July. Young, a seasoned investment banker with 14 years at Morgan Stanley, brings extensive M&A experience with involvement in over $175 billion in transactions, enhancing CBRE's strategic growth potential. With $4.8 billion in liquidity at year-end 2022, the firm is well-positioned for future M&A endeavors. CBRE's global Corporate Development and Strategy teams will report to Young, who previously served in the U.S. Marine Corps and holds degrees from the University of North Carolina. Bob Sulentic, CBRE's CEO, expressed enthusiasm for Young's addition due to his proven M&A track record in real estate.

CBRE Global Real Estate Income Fund (NYSE: IGR) recently concluded its transferable rights offering, which ended on April 6, 2023. The offering provided rights holders the opportunity to subscribe for up to 23,378,100 additional common shares at a subscription price of $5.03 per share. The offering grossed approximately $117.6 million. Although the offer was oversubscribed, the fund will not utilize the secondary oversubscription option, and excess payments from those who oversubscribed will be returned. Shares from the offering are expected to be issued on or about April 14, 2023. The final subscription price turned out to be lower than initially estimated, which will lead to refunds for certain subscribing rights holders.

CBRE Group, Inc. (NYSE: CBRE) is set to release its first quarter 2023 financial results on April 27, 2023, at approximately 6:55 a.m. Eastern time. A conference call will follow at 8:30 a.m. Eastern time to discuss the results. Investors can access the call via the company’s website, www.cbre.com, where a supplementary slide presentation will also be available. Replay options for the call will be provided for a week post-event. CBRE is recognized as the largest commercial real estate services firm globally, operating in over 100 countries with around 115,000 employees.

Accelerate Investment Partners and CBRE Investment Management have initiated a new strategy called Accelerate Infrastructure Opportunities, focusing on investments in digital and renewable real estate interests across North America. This strategy will include acquiring and managing ground leases and land for critical infrastructure assets, such as cellular towers and renewable energy projects. The partnership aims to leverage long-term capital for sustainable cash flow, benefiting from Accelerate's strong market position and expertise in property value maximization. Together, they plan to capitalize on the growth potential in the infrastructure sector.

The CBRE Global Real Estate Income Fund (NYSE: IGR) has announced three distributions of $0.06 per share for April, May, and June 2023, totaling $0.18 per share. The current annualized distribution rate is 14.1% based on a closing market price of $5.10 as of March 28, 2023. For the fiscal year to date, the fund has declared six regular monthly distributions totaling $0.36 per share. Estimated allocations for the distributions indicate approximately 48% comes from net realized long-term capital gains. The board reviews distribution rates quarterly based on the fund's net investment income and realized gains.

CBRE and Akima Intra-Data have been awarded an IDIQ contract by the GSA for Electric Vehicle Supply Equipment (EVSE) installation across federal locations in the Western U.S. This initiative supports the federal goal of 100% zero-emission vehicle acquisitions by 2035. The partnership aims to provide federal agencies with a streamlined, turn-key solution for EVSE planning, design, delivery, and operation. With CBRE's extensive real estate services experience and Akima's government logistics background, the collaboration targets improved sustainability and efficiency in federal operations.