CBRE Stock Recent News

NEW YORK , Aug. 14, 2024 /PRNewswire/ -- MainStay CBRE Global Infrastructure Megatrends Term Fund (the "Fund") (NYSE: MEGI) today announced the Fund's monthly distributions for August 2024 of $0.1250 per common share. The Fund's current annualized distribution rate is 11.30% based upon the closing price of $13.27 on August 13, 2024, and 10.09% based upon the Fund's closing NAV of $14.87 as of the same date.

Extensive real estate market knowledge and a healthy outsourcing business bode well for CBRE Group (CBRE).

Second quarter net sales of $1.942 billion increased 3.9% and 5.6% on a constant currency1 basis Second quarter diluted earnings per share were $1.18; adjusted1 diluted earnings per share were $2.01 The Company updates 2024 reported revenue guidance due to currency expectations and reaffirms 2024 constant currency revenue growth and adjusted1 earnings per share financial guidance WARSAW, Ind. , Aug. 7, 2024 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended June 30, 2024.

CBRE's Q2 2024 EBITDA and EPS beat the sell-side analysts' consensus forecasts by +9.9% and +14.3%, respectively. The company raised its full-year bottom-line guidance by +7.9%, and the updated outlook implies a +25.0% increase in its earnings for 2024. I stick with a Buy rating for CBRE, as the stock could command a higher P/E multiple in view of its 2024 earnings outlook and its historical EPS growth numbers.

CBRE Group's (CBRE) Q2 results reflect the benefits of diversification and the expansion of its resilient business in recent years despite the challenging macro environment.

Although the revenue and EPS for CBRE (CBRE) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

CBRE Group (CBRE) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.82 per share a year ago.

Real estate stocks are a cornerstone asset class, typically providing a valuable hedge against inflation and steady income stream. Yet, real estate shares have lagged behind the S&P 500 index in 2024.

A focus on resilient business and diversification across property types, lines of business, geographic markets and clients and disciplined expense management are likely to aid CBRE Group's (CBRE) Q2 results.

Extensive real estate market knowledge and a solid outsourcing business bode well for CBRE Group (CBRE), though macroeconomic uncertainty and its adverse impact on commercial real estate transactions are concerning.