Cbre Group Stock Price, News & Analysis

NYLI CBRE Global Infrastructure Megatrends Term Fund (NYSE: MEGI) has declared its monthly distribution of $0.1250 per common share for December 2024. The Fund's current annualized distribution rate is 11.30% based on the closing price of $13.28 and 10.16% based on NAV of $14.77 as of December 11, 2024.

The distribution sources include: 80% from net investment income ($0.1001), 20% from net realized short-term capital gains ($0.0249), and 0% from long-term capital gains. The Fund's performance metrics show an average annual total return of -0.75% since inception, with a cumulative total return of 6.66% for the fiscal period ending November 30, 2024.

CBRE Group (NYSE: CBRE) has announced that Chair & CEO Bob Sulentic will participate in a fireside chat at the Goldman Sachs Financial Services Conference on Wednesday, December 11, 2024, at 8 am Eastern time. The presentation will be accessible via live audio webcast on CBRE's website, with a replay available for 90 days afterward.

As the world's largest commercial real estate services and investment firm based on 2023 revenue, CBRE employs over 130,000 people across more than 100 countries. The company provides comprehensive services including facilities management, property management, investment management, and strategic consulting.

CBRE Group (NYSE:CBRE) has announced the appointment of Adam Gallistel and Andy Glanzman as Co-CEOs of CBRE Investment Management. Gallistel, joining from GIC where he serves as Head of Americas Real Estate and Global Real Estate Credit, will be Co-CEO and Chief Investment Officer, focusing on investment strategy and investor engagement. Glanzman, who has been with CBRE Investment Management since 2010, will serve as Co-CEO and President, overseeing business strategy and operations.

Gallistel will join on April 1, 2025, bringing extensive experience in real assets investment, particularly in next-generation growth sectors like data centers. Glanzman has been credited with helping the business navigate recent market challenges since becoming President in January 2022.

Kao Data has appointed CBRE Group (NYSE:CBRE) as its new integrated facilities management partner to support its European platform expansion. CBRE will manage complete facilities services across Kao Data's data centre estate, including London locations and the upcoming Greater Manchester facility. The scope includes maintenance of electrical systems, cooling systems, security, and cleaning services. CBRE will implement its Critical Environments Risk Management program to reduce risks and maintain Kao Data's 100% customer uptime record. The partnership begins December 1st, 2024, aiming to strengthen Kao Data's reputation in delivering data centres engineered for AI with high standards of operational excellence.

Gateway Fiber has secured an additional $75 million in debt financing, bringing its total debt financing to $250 million for the year. The funding, arranged by Texas Capital alongside JPMorgan Chase Bank, Third Coast Bank, and CIBC, will support the company's fiber network expansion through 2025 in Missouri, Minnesota, and Massachusetts. With backing from equity sponsor CBRE Investment Management, Gateway Fiber aims to strengthen its position in residential and commercial fiber internet markets while maintaining service quality.

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%.