Jones Lang Lasalle Inc.NYSE
Thu, Nov. 10, 9:52 AM
Wed, Nov. 2, 1:01 PM
Wed, Nov. 2, 11:39 AM
- Q3 adjusted EPS of $1.42 fell from $2.56 one year ago. Expectations had been for $1.99. Adjusted EBITDA of $127M fell from $188M. Adjusted EBITDA from Real Estate Services of $113M vs. $125M; from Investment Management of $14M vs. $63M (incentive fees fell to $6M from $68.5M).
- Regarding the earnings fall, management notes an anticipated reduction in incentive fees and equity earnings, the Brexit vote causing a decline in property deals, and the expansion of the global annuity business. Trying so soften the blow, the semi-annual dividend is lifted 6% to $0.33 per share.
- Previously: Jones Lang Lasalle misses by $0.57, beats on revenue (Nov. 2)
- JLL -8.25%
Wed, Nov. 2, 7:34 AM
Tue, Nov. 1, 5:30 PM
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Fri, Jul. 8, 1:00 PM
Tue, Jul. 5, 6:11 PM
- JLL (JLL -3.5%) has closed on its latest acquisition, of workplace technology firm BRG.
- BRG chief Traci Doane will take over a new Technology Solutions service line at JLL, incorporating tech consulting and Integrated Workplace Management Systems.
- BRG's space and occupancy planning, move and relocation management and project management services will become corresponding parts of JLL's suite in those areas.
Tue, Jun. 28, 9:56 AM
- JLL (JLL +1.3%) agrees to purchase MSCI's global corporate occupiers benchmarking business, whose client roster encompasses more than 25K properties in 48 countries.
- "This is a ground-breaking addition to our Corporate Solutions business," says Vincent Lottefier, JLL's CEO EMEA Corporate Solutions.
- Since the start of 2015, JLL has announced or closed 40 margin-accretive deals with a combined value of over $1.2B.
Wed, Jun. 22, 4:40 PM
Tue, Jun. 7, 12:55 PM
- Consistent with the company plan to become a leader in corporate real estate technology, JLL (JLL +2.5%) agrees to buy BRG, an expert in workplace technology, consulting, technology implementation, and space and move management services. The deal is expected to close in July.
- Alongside the purchase, JLL will form a new Technology Solutions team to be headed by Traci Doane, currently CEO of BRG.
Fri, Jun. 3, 11:09 AM
- Moving to expand its Project and Development Services offerings, JLL (JLL -1.1%) purchases Merritt & Harris, a provider of construction-related services for real estate lenders and investors during new construction, renovations, and workouts.
- Founded in 1937, M&H is headquartered in New York, with offices in CA and FL. More than 40 M&H architects, engineers, cost analyst and construction experts will join JLL, including the company's CEO Manny Kratsios.
Wed, Jun. 1, 7:25 AM
- The company announces the purchase of Procofin Oy, one of Finland's market leaders in project development and architectural services. The addition of Procofin's 43-strong team double's JLL's Finland headcount to over 70, and takes JLL's total Nordic presence to 190.
Fri, May 20, 10:55 AM
- While capital markets (property sales) activity is clearly decelerating, says analyst Brad Burke, capital markets represents just 25% of the JLL's (JLL +4.3%) 2016 estimated EBITDA. The company should still be able to realize strong growth thanks to market share gains and business diversity.
- Among the risks are JLL's exposure to the U.K. (about 10% of EBITDA) amid the Brexit uncertainty. With the stock off 40% from the 52-week high, though, this may already be priced in.
- He upgrades JLL to Buy, but still prefers CBRE (CBG +2.7%) thanks to less U.K. exposure, more Y/Y benefit from recent M&A, and less pressure from tough investment management comps. He boost the PT to $38 from $35 (vs. current $28.53).
- Previously: JLL touched by Goldman, gains 3% early (May 20)