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Should You Invest in CBRE Group (CBRE)?

Third Avenue Management, an investment management company based in New York City, released its “Real Estate Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund generated a +5.87% return net of fees in the fourth quarter compared to a +7.11% (before fees) return for the FTSE EPRA NAREIT Developed Index, the fund’s most relevant benchmark. Leading US-based homebuilders and UK-centric real estate enterprises were the primary contributors to the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Third Avenue Management highlighted stocks like CBRE Group, Inc. (NYSE:CBRE) in the Q4 2022 investor letter. Headquartered in Dallas, Texas, CBRE Group, Inc. (NYSE:CBRE) is a global real estate and investment company. On January 20, 2023, CBRE Group, Inc. (NYSE:CBRE) stock closed at $84.29 per share. One-month return of CBRE Group, Inc. (NYSE:CBRE) was 9.94%, and its shares lost 16.34% of their value over the last 52 weeks. CBRE Group, Inc. (NYSE:CBRE) has a market capitalization of $26.631 billion.

Third Avenue Management made the following comment about CBRE Group, Inc. (NYSE:CBRE) in its Q4 2022 investor letter:

"The Fund also added to its existing positions in the common stock of CBRE Group, Inc. (NYSE:CBRE) and Savills plc—both “net cash” real estate brokerage and services firms that have “outsider” attributes in their own right having reshaped their business mix in recent years with (i) the addition of significant recurring revenues through property management and investment management mandates and (ii) expanded expertise to capitalize on the rapidly changing dynamics in the office markets by providing advisory, appraisal, sustainability, and flexible office solutions for tenants, owners, and lenders."

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CBRE Group, Inc. (NYSE:CBRE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held CBRE Group, Inc. (NYSE:CBRE) at the end of the third quarter which was 42 in the previous quarter.

We discussed CBRE Group, Inc. (NYSE:CBRE) in another article and shared the list of best real estate stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.