Cbre Group Stock Price, News & Analysis

The Board of Trustees of the CBRE Global Real Estate Income Fund (NYSE: IGR) has announced a rights offering for holders of its common shares as of March 9, 2023. The initiative allows shareholders to subscribe for additional common shares at a discount to market price. Factors influencing this decision include attractive valuations in global real estate stocks and anticipated growth opportunities. The offering aims to enhance total return and lower the Fund's expenses by increasing its asset base. The offer will be available from March 9, 2023, to April 6, 2023. Shareholders will also receive regular monthly distributions in the upcoming months.

CBRE Group reported financial results for FY 2022, with GAAP EPS falling 21% to $4.29, while Core EPS rose 7% to $5.69. Q4 revenue decreased 4.2% to $8,194 million, and net revenue fell 10.6% to $4,975 million. Net income plummeted 88.3% in Q4, indicating significant challenges, particularly in the Advisory Services and Capital Markets segments. Despite these setbacks, CBRE anticipates a low to mid-double-digit decline in Core EPS for 2023 but expects growth afterward. Free cash flow for Q4 was $715 million, alongside successful stock repurchases totaling 22.9 million shares for $1.9 billion throughout 2022.

The CBRE Global Real Estate Income Fund (NYSE: IGR) has announced a monthly distribution of $0.06 per share for February 2023. Key dates include the declaration on February 10, the ex-dividend date on February 17, and the payment date on February 28. The current annualized distribution rate stands at 10.6% based on a closing market price of $6.81 and 9.9% based on a NAV of $7.27. The Fund's distribution policy is regularly reviewed by its Board of Trustees, aiming to align distributions with its net investment income and realized gains.

Altus Power, Inc. (NYSE: AMPS) has partnered with Blackstone (NYSE: BX) and CBRE (NYSE: CBRE) to enhance its Community Solar Partnership Program, allowing employees of these companies to benefit from clean electricity at a discount. The program, already operational in New York City and Westchester County, NY, provides credits on electricity bills from Altus Power’s solar generation. Future expansions are planned in Hawaii, Maryland, and New Jersey, with potential growth in Minnesota, Massachusetts, and Illinois. Altus Power aims to attract more employers to this program as a valuable employee benefit.

CBRE emphasizes the importance of investing in publicly accessible electric vehicle (EV) charging networks to address climate change and socio-economic inequities. The press release outlines five critical success factors for public agencies to enhance EV charging accessibility: maximizing buying power, attracting private capital, ensuring equitable access, choosing the right partners, and creating proximity to charging stations. With substantial federal funding available, the construction of 1.2 million public EV chargers by 2030 is essential for achieving zero emissions for half of all U.S. vehicles. CBRE calls for strategic planning and collaboration among agencies to optimize investments and improve community access.

CBRE Group, Inc. announced its expertise in electric vehicle (EV) infrastructure development, emphasizing comprehensive solutions for planning, installation, and management of EV charging sites. Driven by government initiatives and rising demand for electric vehicles, CBRE's services include financing, procurement, and energy management to optimize EV charging options. The firm has successfully managed the installation of over 1,200 charging stations across 220 sites, supporting Electrify America's 10-year zero-emission plan. Their integrated approach aims for cost savings of 11-15% and aligns with business and environmental objectives.