True North Advisors 13F: New $1.5M Stake in CBRE
Key Points
- True North Advisors opened a new position in CBRE Group, Inc. (CBRE) by purchasing 11,868 shares valued at approximately $1.52 million in a filing on October 22, 2026.
- CBRE Group, Inc. recently traded around $131.24, sitting below its 50-day moving average of $139.89 and its 52-week high of $174.27.
- Wall Street analysts currently maintain a consensus buy rating on CBRE Group, Inc. with a mean price target of $176.67 across 12 analyst opinions.
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True North Advisors opened a new position in CBRE Group, Inc. (CBRE) by purchasing 11,868 shares valued at approximately $1.52 million, according to a Form 13F filing with the U.S. Securities and Exchange Commission on October 22, 2026.
CBRE
CBRE Group, Inc.
What Changed in True North Advisors's CBRE Group, Inc. Position
The newly established holding consists of 11,868 shares with a reported market value of $1,524,682. Because this is a brand-new stake, the firm held zero shares in the commercial real estate firm prior to this reporting period.
Other Institutional Activity in CBRE Group, Inc.
Other large institutional investors have also adjusted their portfolios around the real estate services firm. Principal Financial Group, Inc. grew its holdings by 374,089 shares, ending with 10,244,499 shares worth about $1,344,488,105. Meanwhile, Harris Associates L.P. reduced its position by 408,462 shares, leaving it with 6,013,890 shares valued at about $789,262,956.
CBRE Group, Inc. Stock Down 2.2%
CBRE Group, Inc. shares closed at $131.24 on October 22, 2026, and recently traded around that same level. The stock sits below its 50-day moving average of $139.89 and its 200-day moving average of $143.12. It trades closer to its 52-week low of $121.69 than its 52-week high of $174.27.
Recent Earnings
The company reported $43.71 billion in trailing-twelve-month revenue alongside basic earnings per share of $4.37. Profitability metrics include a return on equity of 15.8% and a net profit margin of 3.0%.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 39.8%. Revenue beat estimates by 1.6%.
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Profit surprise
EBITDA beat by 6 percent. Operating income beat by 4 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
2 target raises, 1 target cut.
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Earnings quality
Gross margin down 0.9 points. Operating margin up 1.8 points. Positive free cash flow.
Earnings Call Summary
The first quarter beat expectations across the board. Data center leasing revenue more than tripled and infrastructure-related businesses generated $950 million in revenue, up from $3 billion last year. Management says corporate clients are still leasing office and warehouse space at full term lengths, and they see good opportunities ahead even as they watch macro uncertainty and track AI's impact on hiring needs.
Guidance CBRE raised its full-year profit forecast to $7.60 to $7.80 per share, up from $7.30 to $7.60 earlier. The company expects strong growth in data center and infrastructure work, and pipeline momentum remains solid in the second quarter.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at CBRE Group, Inc.
Company insiders have made several share dispositions over recent months. Chief Financial Officer Emma E. Giamartino sold 2,250 shares on May 15, 2026, at an average price of $130.74 for a total of $294,165. Later, officer Vikramaditya Kohli sold 2,666 shares on July 29, 2026, at $150.00 each for a total of $399,900. Chad J. Doellinger sold 228 shares on August 13, 2026, at $148.29 per share, totaling $33,810, while Emma E. Giamartino made an additional sale of 2,250 shares on the same day at $148.29 for $333,652.
Analysts Set New Price Targets
Analyst firms updated their outlooks on the stock ahead of the filing. On July 30, 2026, UBS maintained a buy rating while raising its price target from $185.00 to $190.00. On the same date, Evercore ISI Group maintained an outperform rating and lifted its target from $169.00 to $175.00. Barclays maintained an overweight rating on August 17, 2026, while moving its target from $180.00 to $183.00. Later, Evercore ISI Group adjusted its target down from $175.00 to $166.00 while maintaining an outperform rating on September 28, 2026. Finally, Keefe, Bruyette & Woods maintained an outperform rating on October 9, 2026, moving its target from $174.00 to $164.00.
About CBRE Group, Inc.
CBRE Group, Inc. operates as a commercial real estate services and investment company. The business serves clients globally through advisory services, building operations and experience, project management, and real estate investments.
Bottom Line
Investors tracking True North Advisors will look to future quarterly disclosures to see whether the firm expands or holds its new stake. Market participants continue to watch how the stock performs relative to its moving averages and analyst price targets.
Related Filing Alerts
Source: True North Advisors's 13F filing on $CBRE (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts