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While CBRE Group (CBRE) benefits from the expansion of its resilient business, macroeconomic uncertainty and high interest rates' adverse impact on commercial real estate transactions raise concerns.
CBRE, CZWI and DG have been added to the Zacks Rank #5 (Strong Sell) List on July 31, 2023.
Self-made billionaire Barry Sternlicht just issued a serious warning. He thinks that real estate is confronting a hurricane "category 5." I explain what this all means for REIT investments.
CBRE Group, Inc. (NYSE:CBRE ) Q2 2023 Earnings Conference Call July 27, 2023 8:30 AM ET Company Participants Brad Burke – Investor Relations Bob Sulentic – President and Chief Executive Officer Emma Giamartino – Chief Financial Officer Conference Call Participants Steve Sakwa – Evercore ISI Anthony Paolone – JPMorgan Jade Rahmani – KBW Stephen Sheldon – William Blair Michael Griffin – Citi Patrick O'Shaughnessy – Raymond James Operator Greetings, and welcome to the CBRE Q2 2023 Earnings Call. At this time all participants are in a listen-only mode.
CBRE Group's (CBRE) Q2 results reflect the benefits of diversification and the expansion of its resilient business in recent years. However, severely constrained capital availability affects its sales revenues.
CBRE's defensive and diversified business mix provides downside protection for the company, so its financial performance is expected to still be reasonably decent in tough times. CBRE has the potential to achieve meaningful upside by leveraging on its strong balance sheet to buy high quality assets or businesses at appealing valuations. I raise my rating for CBRE to a Buy, in view of both the downside protection and upside potential for the stock.
Warren De Haan, Acore Capital co-CEO, joins 'The Exchange' to discuss lender strength and where to find opportunity in credit and commercial real estate.
These renewed targets come amid the company's recent 11-cent per-share beat in earnings. As the stock bounces off its lowest book-to-value ratios since the 2008 financial crisis (excluding the sell-off effects during COVID-19), the initial momentum has set a rally in motion.
In recent months, banks have pulled back on funding as they shore up balance sheets amid the collapse of several regional banks. Commercial real estate companies will face pressures over the next year or so due to the pullback.
With the REIT industry offering a real estate structure for several economic activities - real or virtual - there are pockets of strength. This is likely to be reflected in the earnings releases of AHH and GRP.U.