Oscar Munoz, a director at CBRE Group (CBRE), recently bought 2,100 shares. The buy increased his position by 18%, and came to a total cost of $242,109.
This marks the first insider buy at the company over the past two years. Over the past two years, there have been over a dozen insider sales, including sells from the company CEO, CFO, and COO, among others. Plus, a major holder sold 4.6 million shares in August 2023.
Overall, CBRE Group insiders own 0.6% of shares.
The commercial real estate advisory and investment company has rallied 36% over the past year. Commercial real estate has been far more mixed over that time, as investors have seen office properties sell at significant discounts to their prior sales.
Operationally, CBRE has had a mixed year. Revenues rose by 9%, but earnings slid by 35%.
Action to take: With interest rates about to start declining, real estate may get a shot in the arm, including commercial real estate. That could help CBRE increase its advisory services and improve operations over the coming year.
CBRE just instituted a dividend, with a 1.7% payout.
For traders, shares have been in a strong uptrend. The December $125 calls, last trading for about $1.55, could see mid-to-high double-digit returns depending on the strength of a continued rally going into the end of the year.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.