CBRE Group Adds $5 Billion to Share Buyback Plan

Dow Jones06:36

By Stephen Nakrosis

CBRE Group said its board has added $5 billion to an existing share repurchase plan.

The new authorization is added to an existing $4 billion authorization, of which about $1.4 billion remained as of Sept. 30, the company said.

The commercial real estate services and investment firm said it ended the third quarter in a strong financial position, with more than $4 billion of liquidity, low leverage and free cash flow that is on track to exceed $1 billion this year.

The company has a market cap of $40.33 billion, 306.02 million shares outstanding and a public float of 303.95 million shares.

CBRE shares ended the day's regular session basically flat, at $131.65.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

November 21, 2024 17:36 ET (22:36 GMT)

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