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CBRE Retains Commercial Property Investment Sales Top Spot

Zacks Equity Research
Updated

Delighting its shareholders, CBRE Group, Inc. CBG announced that it has once again secured the top spot in the global rankings for commercial real estate investment sales for 2017. The data is as per Real Capital Analytics (RCA).

This, in fact, is the seventh consecutive year of the company achieving the first position. RCA tracks global commercial real estate sales of $10 million and higher. In fact, per the RCA data, CBRE had 22.3% market share in 2017 across all property types on a global basis, which is a massive 650 basis points ahead of its closest competitor.

According to RCA, it is estimated that around $1.53 trillion of commercial real estate was sold all over the world last year. CBRE’s global investment sales volume reached $137.62 billion.

In 2017, the company executed $62.1 billion in global office sales as seller representative for an industry-leading market share of 23.5%. Further, with $19.7 billion in transactions for a market share of 28.6%, the company once again became the top global firm in logistics and industrial sales.

In addition, CBRE maintained its top global rank in retail sales with $17.2 billion in transactions. The company’s global market share of 21.2% in 2017 marked a 270-bps expansion. Moreover, the company executed $27.2 billion in global apartment sales for a market share of 20.6%. Globally, the company has been ranked as the leading buy-side broker.

Notably, CBRE has decided to change its NYSE ticker symbol to CBRE from CBG and trading under the new ticker symbol is slated to start on Mar 19, 2018.

Importantly, CBRE’s broad range of real estate products and services, and an extensive knowledge of domestic and international real estate markets helped the company retain its solid growth momentum. For full-year 2017, revenues and earnings reached record highs. The company achieved 18% growth in full-year adjusted earnings per share and marked the eighth consecutive year of double-digit adjusted earnings per share growth. Further, CBRE expects 2018 adjusted earnings per share in the band of $3.00-$ 3.15, denoting a projected increase of 13% at the mid-point of the range.

The company’s solid technology platform helps it develop and deliver superior analytical, research and client service tools to meet diverse client needs. In addition, the company’s focused investment in technology and data analytics are likely to drive long-term growth. Furthermore, with continued calculated investments in people and platform, as well as strong client service, CBRE continues to experience decent market share gains and ride on the growth trajectory.

CBRE currently has a Zacks Rank #2 (Buy). Over the past three months, the stock has appreciated 11.9%, while its industry incurred loss of 0.2%.



Stocks to Consider

Investors can also consider other top-ranked stocks in the real estate space like HFF Inc. HF, FirstService Corp. FSV and Jones Lang LaSalle Incorporated JLL. While HFF Inc. has a Zacks Rank #1 (Strong Buy), FirstService Corp. and Jones Lang LaSalle carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

HFF’s Zacks Consensus Estimates for 2018 earnings per share have been revised 22.6% upward to $2.88 over the past month. Its share price has risen 12.0% in three months’ time.

FirstService Corporation’s earnings per share estimates for the current year have moved up 11.8% to $2.65 in two months’ time. Its shares have increased 3.4% over the past three months.

Jones Lang LaSalle’s earnings per share estimates for 2018 have been revised 2.4% upward to $9.85 over the past month. The stock has rallied 17.8% during the past three months.

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Jones Lang LaSalle Incorporated (JLL) : Free Stock Analysis Report
 
HFF, Inc. (HF) : Free Stock Analysis Report
 
CBRE Group, Inc. (CBG) : Free Stock Analysis Report
 
FirstService Corporation (FSV) : Free Stock Analysis Report
 
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