Cbre Group Stock Price, News & Analysis

CBRE Group (NYSE: CBRE) has announced its Board of Directors' approval of an additional $5 billion stock repurchase authorization, supplementing the existing $4 billion program which had $1.4 billion remaining as of September 30, 2024. The company's CFO Emma Giamartino highlighted CBRE's strong financial position, with over $4 billion in liquidity, low leverage, and projected free cash flow exceeding $1 billion this year. Since 2021, CBRE has repurchased 36 million shares for approximately $3 billion at an average price of $83.50 per share.

NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared its November 2024 monthly distribution of $0.1250 per common share. The Fund's current annualized distribution rate is 11.14% based on the $13.46 closing price and 10.11% based on the $14.83 NAV as of November 12, 2024. The distribution sources include: 4% from net investment income, 71% from net realized short-term capital gains, and 25% from net realized long-term capital gains. The Fund's performance shows a -1.04% average annual total return since inception, with a cumulative total return of 5.78% for the fiscal period ending October 31, 2024.

Accelerate Infrastructure Opportunities has secured a $780 million capital raise, consisting of a $630 million equity commitment from CBRE Investment Management and a $150 million asset-backed securitization. The company, which invests in real estate under digital, renewable, and transportation infrastructure, has acquired interests in more than 200 properties across 38 states since partnering with CBRE IM in December 2022. The inaugural securitization received an investment-grade rating A (low) from Morningstar DBRS and was oversubscribed by multiple investors.

CBRE Group reported strong financial results for Q3 2024, with GAAP EPS up 20% to $0.73 and Core EPS up 67% to $1.20. Revenue increased 15% while net revenue grew 20%. Global leasing revenue surged 19%, with US leasing up 24%. Global property sales showed first growth in eight quarters, with US sales up 20%. Net cash flow from operations improved to $573 million, with free cash flow up 61% to $494 million. The company increased its full-year Core EPS outlook to $4.95-$5.05. Notable performance included record Q3 office leasing revenue, up 26%, and facilities management net revenue growth of 22%.

NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has announced its monthly distribution for October 2024 of $0.1250 per common share. The Fund's current annualized distribution rate is 10.64% based on the closing price of $14.10 and 9.62% based on the NAV of $15.60 as of October 10, 2024.

The distribution breakdown is as follows:

• 37% from Net Investment Income
• 43% from Net Realized Short-Term Capital Gains
• 20% from Net Realized Long-Term Capital Gains

The Fund's average annual total return from inception through September 30, 2024, is 1.06%. The cumulative total return for the fiscal period ending September 30, 2024, is 12.59%. The Fund's Board of Trustees reviews the distribution quarterly, aiming to distribute an amount closely approximating the Fund's net investment income and net realized capital gains during the year.

The CBRE Global Real Estate Income Fund (NYSE: IGR) has declared monthly distributions of $0.06 per share for October, November, and December 2024. The fund's current annualized distribution rate is 11.7% based on the closing market price of $6.18 on October 8, 2024, and 12.0% based on the NAV of $5.99.

A webinar with the portfolio management team is scheduled for October 24, 2024, at 4:00 p.m. ET to provide updates on the portfolio, market conditions, and outlook. The fund's estimated distribution sources for the period from January 1, 2024, to December 31, 2024, are: 12% net investment income, 34% net realized short-term capital gains, 18% net realized long-term capital gains, and 36% return of capital.

The fund's performance data shows a Cumulative Total Return of 12.13% for the fiscal year 2024 (January 1 to September 30, 2024) and an Average Annual Total Return of 6.17% for the preceding five-year period.

CBRE Group, Inc. (NYSE:CBRE) has been named to 3BL's annual 100 Best Corporate Citizens ranking for the sixth consecutive year, advancing 24 spots to rank No. 45 overall. CBRE is the only real estate services company in the top 100, recognized for outstanding environmental, social and governance (ESG) transparency and performance. The ranking is based on over 200 factors across seven pillars, including climate change, employee relations, and human rights.

CBRE maintained a strong score on climate change and improved in areas such as employee relations and human rights. The company has also been recognized on Forbes' Net-Zero Leaders list, Ethisphere's World's Most Ethical Companies, and Barron's list of most sustainable U.S.-based companies. CBRE serves clients in more than 100 countries with a diverse range of commercial real estate services.

NYLI CBRE Global Infrastructure Term Fund (NYSE: MEGI) has announced the certified final voting results of its 2024 Annual Meeting of Shareholders. The results confirm that the incumbent Board members will remain in place, despite a dissident shareholder's proposal of a trustee nominee. Shareholders also ratified the selection of KPMG LLP as the fund's independent registered public accounting firm for the fiscal year ending May 31, 2025.

The Annual Meeting, which reached quorum, was held on September 27, 2024. The final voting results have been certified by First Coast Results, Inc., the independent Inspector of Election, and will be included in the fund's next annual report to shareholders.

CBRE has been named to Indeed's Work Wellbeing 100 Index, recognizing top companies with work cultures that attract, nurture, and retain talent. CBRE is the only commercial real estate company on the list. The index, created in partnership with the University of Oxford Wellbeing Research Centre, is based on employee ratings across four key wellbeing indicators: happiness, purpose, satisfaction, and stress.

The report found that public companies with higher work wellbeing scores collectively outperform stock market benchmarks. To qualify, companies must be publicly traded on NASDAQ or NYSE and have received at least 100 employee responses for work wellbeing indicators in 2023. Paul Hawtin, CBRE's chief people officer, emphasized the company's commitment to employee wellbeing and creating an environment where people can thrive.