CBRE Retains Top Spot in Global Investment Sales Activity in 2022
CBRE Group, Inc. CBRE again secured the top spot in commercial real estate investment sales globally in 2022, according to MSCI Real Assets rankings. This marks the 12th consecutive year of the company securing the top position.
Per MSCI Real Assets, CBRE had a 23.4% market share across all property types on a global basis in 2022. This is a massive 740-basis-point lead over the closest competitor.
Apart from being the number one globally, this commercial real estate services and investment firm secured the top spot for commercial real estate investment sales in all three regions — the Americas (22.2%), the Asia Pacific (33.9%), and Europe, Middle East & Africa (21.8%).
Across asset categories, CBRE held the top spot in MSCI Real Assets’ global rankings across the five largest asset classes. CBRE enjoyed a 25.8% market share in the office category, 31.3% in industrial, 23.5% in retail, 17.8% in multifamily and 20.0% in the hotels category.
CBRE’s broad range of real estate products and services, and the extensive knowledge of domestic real estate markets helped the company retain its solid growth momentum. CBRE is well-poised to ride the growth curve with its wide range of real estate products and service offerings, healthy outsourcing business, and technology investments.
CBRE’s strategic buyouts and solid balance sheet strength are tailwinds. It has been benefiting from diversification across asset types, business lines, client types and geographies, and the expansion of its resilient business in recent years.
However, macroeconomic uncertainty and its adverse impacts on commercial real estate transactions are major headwinds for the company in the near term. Global political tension and interest rate hikes add to its woes.
Currently, CBRE has a Zacks Rank #3 (Hold). Over the past three months, the stock has appreciated 9.1%, while its industry has declined 3.6%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader real estate sector are FirstService Corporation FSV and Henderson Land Development Company Limited HLDCY, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for FirstService’s 2023 earnings per share has moved 1.9% north to $4.92 over the past month.
The Zacks Consensus Estimate for Henderson’s 2022 earnings per share has been raised marginally over the past month to 35 cents.
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Henderson Land Development Co. (HLDCY) : Free Stock Analysis Report
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