Cbre Group Stock Price, News & Analysis

CBRE Group (NYSE:CBRE) has announced key promotions within its senior leadership, with Emma Giamartino becoming Global Group President, CFO & Chief Investment Officer, and Vikram Kohli now Global Group President, Business Intelligence, overseeing digital and strategic functions. Both executives will directly report to CEO Bob Sulentic, and their promotions underscore the company’s focus on enhancing capital allocation and business intelligence capabilities. Leah Stearns, the former CFO, will remain in an advisory role until year's end.

CBRE Group, Inc. (NYSE:CBRE) reported robust Q2 2021 results with revenues of $6.46 billion, a 20% increase from the previous year, driven by diversified business efforts. Net income surged to $443 million, representing a 440% year-over-year rise. Adjusted EBITDA grew by 169% to $718 million. The company announced plans to acquire a 60% stake in Turner & Townsend for $1.3 billion, enhancing its growth profile. Free cash flow reached $375 million, up 363% year-over-year. With a net leverage ratio of -0.07x, CBRE maintains strong liquidity of $4.8 billion.

CBRE Group, Inc. (NYSE:CBRE) has announced a definitive agreement to acquire a 60% interest in Turner & Townsend Holdings Limited for approximately £960 million ($1.3 billion) in cash. This strategic partnership aims to enhance CBRE's project management capabilities globally. The transaction values Turner & Townsend at £1.6 billion ($2.2 billion) and is expected to be immediately accretive to CBRE's earnings. The partnership will enable Turner & Townsend to expand its footprint in the Americas while maintaining its operational independence.

CBRE Group, Inc. (NYSE:CBRE) will announce its Q2 2021 financial results on July 29, 2021, at 6:55 a.m. Eastern time. A conference call to discuss these results will be held on the same day at 8:30 a.m. Eastern time, accessible via the Investor Relations section of the CBRE website. Investors can join the call at 877.407.8037 for U.S. participants or 201.689.8037 for international participants. A replay of the call will be available for one week after the event, and the webcast will be accessible for 12 months.

North Signal Capital has secured a 164,500 SF, 5-year lease with Jonathan Y, a luxury home furnishings company, located at RiverPort Commerce Park in Hardeeville, SC. The lease aims to enhance Jonathan Y's operational efficiency with lower occupancy costs and is expected to generate over 40 jobs by September. Construction of customized premises is underway, and the project signifies economic growth for the Savannah market. The site selection was praised for its location, economic incentives, and low property taxes.

CBRE Group (NYSE:CBRE) announced the participation of Spencer Levy, Julie Whelan, and Lenny Beaudoin in a moderated discussion at the Morgan Stanley 2021 U.S. Financials, Payments & CRE Conference. This virtual event is scheduled for June 15, 2021, at 2:45 p.m. ET. Interested parties can access a live audio webcast via the Investor Relations section of the company’s website, with a replay available within 24 hours for 90 days. CBRE, headquartered in Dallas, is the largest commercial real estate services firm globally, serving clients in over 100 countries.

CBRE Group, Inc. (NYSE: CBRE) has climbed to #122 on the 2021 Fortune 500 list, up from #128 in 2020. The company reported total revenues of $23.8 billion in 2020, managing over 7.0 billion sq. ft. of commercial properties and $124.5 billion of investment assets. CBRE was recognized as the top-ranked real estate firm on Fortune's Most Admired Companies list for the third straight year and ranked #22 on Barron's list of the 100 Most Sustainable Companies. This reflects the company's robust performance amid the challenges posed by COVID-19.

CBRE Group, Inc. (NYSE: CBRE) has been ranked #24 in 3BL Media's 100 Best Corporate Citizens list, recognizing its exceptional environmental, social, and governance (ESG) efforts. The evaluation involved 1,000 large U.S. public companies and CBRE is noted as the leading real estate firm. CBRE's commitment to responsible business practices is emphasized by its Chief Responsibility Officer, highlighting ongoing efforts to tackle climate change and pandemic-related challenges. This accolade follows other recognitions including a top position on Barron's and Fortune's lists for sustainability and ethical practices.

CBRE Group, Inc. reported robust first-quarter results for 2021, achieving the highest revenue and adjusted EPS in its history. Revenue reached $5.939 billion, up 0.8% year-over-year, while GAAP net income surged 54.6% to $266 million, and adjusted EPS rose 15.2% to $0.86. The CEO highlighted expectations for full-year adjusted EPS to exceed 2019's peak, despite ongoing pressures in the office market. Promising growth in industrial leasing and strong international performance contributed to the positive outlook, despite challenges from Covid-19 in certain sectors.