The U.S. is home to the majority of the world's data centers, with more than 2,800. The closest nation after that is the United Kingdom, with less than 400, according to the Data Center Map. Data centers are the physical vertebrae of internet infrastructure, supporting cloud computing capabilities and artificial intelligence. The value of the land where data centers are planned to be built is now soaring, 10 times the original price in one case from Vint Hill, Virginia. Pat Lynch, executive managing directo ...

The over 25K-square-foot space will provide room to accommodate the sustainability company's impressive growth DENVER, Aug. 21, 2024 /PRNewswire/ -- Redaptive, renowned for its data and sustainability solutions for industrial and commercial customers, is moving its headquarters from The Circa Building to a much larger, 25K-square-foot space on the eighth floor of McGregor Square in LoDo. The move comes on the heels of significant company growth. Redaptive's new headquarters is located in McGregor Square, wh ...

CBRE Group's (CBRE) wide array of real estate products and service offerings and healthy outsourcing business position it well for growth. Its solid balance sheet position also bodes well. Last month, this Dallas, TX-based real estate came up with better-than-expected second-quarter 2024 results. The company reported core earnings per share (EPS) of 81 cents, surpassing the Zacks Consensus Estimate of 69 cents. The results reflected growth in its resilient lines of business. Shares of this Zacks Rank #2 (Bu ...

CBRE Group, Inc. (NYSE:CBRE) Q2 2024 Results Conference Call July 25, 2024 8:30 AM ET Company Participants Chandni Luthra - Executive Vice President, Head of FP&A and Investor Relations Bob Sulentic - Chair & Chief Executive Officer Emma Giamartino - Chief Financial Officer Conference Call Participants Ronald Kamdem - Morgan Stanley Anthony Paolone - JPMorgan Jade Rahmani - KBW Michael Griffin - Citi Steve Sakwa - Evercore ISI Stephen Sheldon - William Blair Peter Abramowitz - Jefferies Operator Greetings, ...

CBRE Group Inc. (CBRE) reported second-quarter 2024 core earnings per share (EPS) of 81 cents, ahead of the Zacks Consensus Estimate of 69 cents. However, the reported figure declined 1.2% year over year. Reflecting positive sentiments, shares of CBRE were up more than 9% so far today. Results reflect growth in its resilient lines of business. Global Workplace Solutions ("GWS") experienced strong business wins with a healthy balance of new clients and expansion. The leasing business performed well due to of ...

For the quarter ended June 2024, CBRE Group (CBRE) reported revenue of $8.39 billion, up 8.7% over the same period last year. EPS came in at $0.81, compared to $0.82 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $8.52 billion, representing a surprise of -1.52%. The company delivered an EPS surprise of +17.39%, with the consensus EPS estimate being $0.69. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how the ...

CBRE Group (CBRE) came out with quarterly earnings of $0.81 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 17.39%. A quarter ago, it was expected that this provider of real estate investment management services would post earnings of $0.69 per share when it actually produced earnings of $0.78, delivering a surprise of 13.04 ...

Table of contents Long-term debt consists of the following (dollars in millions): On February 23, 2024, CBRE Services issued $500.0 million in aggregate principal amount of 5.500% senior notes due April 1, 2029 (the 5.500% senior notes) at a price equal to 99.837% of their face value. The 5.500% senior notes are unsecured obligations of CBRE Services, senior to all of its current and future subordinated indebtedness. The 5.500% senior notes are guaranteed on a senior basis by CBRE Group, Inc. Interest accru ...

Revenue Growth - Revenue increased by 9% and net revenue increased by 11% compared to the previous year[23] - Net revenue for Q2 2024 was $4.971 billion, up from $4.478 billion in Q2 2023[52] - Total revenue for Q2 2024 reached $8.391 billion, compared to $7.720 billion in Q2 2023[52] - Global leasing revenue rose 9%, driven by a 12% increase in the Americas[26] - Mortgage origination revenue jumped 38%, led by a 20% increase in loan origination fees[27] - Property Management Revenue increased to $555 million in Q2 2024, up 15.4% from $481 million in Q2 2023, with net revenue rising to $532 million from $460 million[86] - Facilities Management Revenue grew to $4.127 billion in Q2 2024, a 12% increase from $3.686 billion in Q2 2023, with net revenue up 18% to $1.697 billion[89] - Project Management Revenue reached $1.817 billion in Q2 2024, up 4.4% from $1.740 billion in Q2 2023, with net revenue increasing 11% to $850 million[90] - Total Revenue for Q2 2024 was $8.391 billion, an 8.7% increase from $7.720 billion in Q2 2023, with net revenue up 11% to $4.971 billion[96] - Global Workplace Solutions (GWS) Revenue rose 9.5% to $5.944 billion in Q2 2024, with net revenue increasing 15.5% to $2.547 billion[99] - Advisory transaction revenue increased 5%, driven by a 13% rise in U.S. leasing revenue and a 20% increase in mortgage origination fees[94] Core EBITDA and Profitability - Core EBITDA for the quarter was $504 million[4] - Core EBITDA for Q2 2024 was $505 million[56] - Core EBITDA for the trailing twelve months ended June 30, 2024, was $2,103 million[82] - Core EBITDA for the six months ended June 30, 2024, was $930 million, compared to $1,036 million in the same period in 2023[78] - Operating income for Q2 2024 was $246 million, compared to $306 million in Q2 2023[45] - Total segment operating profit was $497 million, with Advisory contributing $315 million and Global Workplace Solutions contributing $233 million[58] - Net income attributable to CBRE Group, Inc. for Q2 2024 was $130 million, down from $201 million in Q2 2023[45] - Net income attributable to CBRE Group, Inc. for the six months ended June 30, 2024, was $256 million, compared to $318 million in the same period in 2023[78] - Core net income attributable to CBRE Group, Inc. stockholders, as adjusted, for the six months ended June 30, 2024, was $489 million, compared to $548 million in the same period in 2023[78] - Core diluted income per share attributable to CBRE Group, Inc., as adjusted, for the six months ended June 30, 2024, was $1.59, compared to $1.74 in the same period in 2023[78] - GAAP EPS decreased 34.2% to $0.42 in Q2 2024, while Core EPS declined 1.9% to $0.81[96][102] Cash Flow and Liquidity - Free cash flow for the second quarter was $220 million, with cash flow conversion improving to 64% on a trailing 12-month basis[34] - The company had approximately $3.7 billion of total liquidity as of June 30, 2024[13] - Cash and cash equivalents decreased to $928 million as of June 30, 2024, compared to $1,265 million at the end of 2023[67] - Net cash used in operating activities was $205 million for the six months ended June 30, 2024, compared to $756 million in the same period in 2023[68] - Net cash provided by financing activities for the six months ended June 30, 2024, was $1,242 million, compared to $1,075 million in the same period in 2023[69] - Free Cash Flow improved significantly to $220 million in Q2 2024, compared to a negative $86 million in Q2 2023[96] Assets and Liabilities - Assets Under Management (AUM) totaled $142.5 billion, a decrease of $1.5 billion from the previous quarter[6] - The servicing portfolio increased to more than $425 billion, up 3% for the quarter and 7% from a year ago[28] - Total assets increased to $23,462 million as of June 30, 2024, up from $22,548 million at the end of 2023[67] - Total liabilities increased to $14,273 million as of June 30, 2024, compared to $13,481 million at the end of 2023[67] - Goodwill increased to $5,667 million as of June 30, 2024, up from $5,129 million at the end of 2023[67] - CBRE's net leverage ratio was 1.58x as of June 30, 2024, well below the primary debt covenant of 4.25x[105] Capital Deployment and Acquisitions - The company deployed $1.3 billion of capital year-to-date across M&A and REI co-investments[24] - Acquisitions during the quarter totaled approximately $290.9 million, primarily for Direct Line Global[22] - Acquisition of businesses, including net assets acquired and goodwill, net of cash acquired, amounted to $1,051 million for the six months ended June 30, 2024[68] - The company repurchased 0.6 million shares for $48.4 million in Q2 2024, with $1.4 billion remaining under the stock repurchase program[93] Costs and Expenses - Cost of revenue for Q2 2024 was $6.793 billion, up from $6.179 billion in Q2 2023[45] - Total costs and expenses for Q2 2024 were $8.145 billion, up from $7.423 billion in Q2 2023[45] - Integration and other costs related to acquisitions for the first quarter of 2024 were $17.5 million, offset by a reversal of $21.7 million in previously recognized transaction-related bonus expense[85] Portfolio and Development - The in-process portfolio ended Q2 2024 at $18.8 billion, unchanged from Q1 2024[54] - Global development operating loss totaled approximately $26 million in Q2 2024[54] - Capital expenditures for Q2 2024 were $66.8 million[42] Segment Performance - Total Core revenue for the period was $4,478 million, with Advisory contributing $2,021 million and Global Workplace Solutions contributing $2,205 million[58] - Total Consolidated revenue reached $7,720 million, driven by Services ($3,242 million) and Real Estate Investments ($256 million)[58] - Operating income for the period was $306 million, with Advisory contributing $238 million and Global Workplace Solutions contributing $157 million[58] - Turner & Townsend net revenue for the three months ended June 30, 2024, was $444 million, compared to $377 million in the same period in 2023[84]

Real estate stocks are a cornerstone asset class, typically providing a valuable hedge against inflation and steady income stream. Yet, real estate shares have lagged behind the S&P 500 index in 2024. On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article. First on our list of real estate stocks is CBRE Group (NYSE:CBRE). This global commercial real estate firm offers leasing, property sales, mortgage, propert ...