CBRE Group, Inc. CBG recently announced that it has acquired the business of Twinsburg, OH-based Mainstream Software, Inc. The acquisition of Mainstream, which provides mobile and software-as-a-service (SaaS) technology solutions for facilities management operations, is likely to bolster CBRE’s Global Workplace Solutions’ (GWS) digital and technology-enabled services offerings.
Los Angeles-based CBRE Group is a commercial real estate services and investment firm, offering a wide range of services to tenants, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estates in all major metropolitan areas across the globe. This acquisition, gives CBRE Group a trusted partner, ensuring that CBRE’s credentials will continue to support and fortify this technology.
Mainstream’s technology supports more than 90,000 users, comprising several CBRE facility managers, clients and vendors. The technology, which delivered excellent results, is used in 50 countries and supports tenant work requests, reactive and preventive maintenance scheduling, and analytics.
Shares of CBRE Group outperformed the Zacks categorized Real Estate – Operations industry in the last three months. While the company’s shares returned 10.4%, the industry gained 1.9%. Its earnings per share estimates for first-quarter and full-year 2017 moved south in the last seven days.
Currently, CBRE Group carries a Zacks Rank #3 (Hold).
Investors interested in the real estate space may consider stocks like Global Net Lease, Inc. GNL, Landmark Infrastructure Partners LP LMRK and CorEnergy Infrastructure Trust, Inc. CORR, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Global Net Lease’s funds from operations (FFO) per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, Landmark Infrastructure Partners’s earnings per share for first-quarter 2017 remained unchanged at 26 cents.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimate remained unchanged at $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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