STOCK TITAN

CoStar Group Inc - CSGP STOCK NEWS

Welcome to our dedicated page for CoStar Group news (Ticker: CSGP), a resource for investors and traders seeking the latest updates and insights on CoStar Group stock.

CoStar Group Inc. (NASDAQ: CSGP) is the premier provider of commercial real estate information, analytics, and online marketplaces. Established in 1987, CoStar has built and maintained the most comprehensive database of commercial real estate data through extensive and continuous research. This effort supplies clients with unparalleled insights into property values, market conditions, and current availabilities.

CoStar's diverse suite of online services includes CoStar Suite, which offers in-depth analytical information on over 5 million commercial real estate properties across various sectors such as office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers. Another prominent platform, LoopNet, is the most trafficked commercial real estate marketplace online, boasting over 9.8 million registered members.

The company also oversees leading apartment resource sites like Apartments.com, ApartmentFinder.com, and ApartmentHomeLiving.com. These platforms serve renters seeking quality apartment homes and provide a robust marketing channel for property managers and owners. As of June 2015, CoStar's websites collectively attract more than 23.6 million unique monthly visitors.

Headquartered in Washington, DC, CoStar Group has significantly expanded its global footprint, including recent growth into markets in Canada, the United Kingdom, Spain, and France. With over 80% of its revenue derived from subscription-based services, CoStar continues to lead the industry through innovation and a commitment to providing actionable real estate intelligence.

Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) announced a public offering of $750 million of its common stock, approximately 9.79 million shares, following its inclusion in the S&P 500 index set for September 19, 2022. The offering is primarily targeted at S&P 500 index funds, anticipating significant demand. Proceeds will finance strategic acquisitions, boost business growth, and cover working capital needs. Goldman Sachs & Co. and J.P. Morgan are the joint book-running managers, with the offering made under an effective SEC registration statement.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.48%
Tags
-
Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) announced its inclusion in the S&P 500 Index, effective September 19, 2022. This recognition highlights the company's consistent growth and its leading position in the online real estate marketplace. CoStar reported over $2 billion in revenue for the twelve months ending June 30, 2022, and a market capitalization of $31.05 billion as of September 9, 2022. CEO Andrew Florance emphasized the achievement as a testament to the company's 36-year commitment to digitizing real estate and the support from its customers and employees.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.03%
Tags
none
-
Rhea-AI Summary

The August 2022 rent growth report from Apartments.com shows a significant shift in the multifamily rental market. After 20 months of rising rents, July experienced a 0.1% decline. Year-over-year rent growth remains positive at 7.1%, down from 8.4% in July, indicating a slowing trend. Notably, the Sunbelt markets, once leaders in rent growth, are witnessing a dramatic pullback. In August, none of the top 40 markets saw year-over-year rent increases. San Francisco recorded the largest monthly decline at 0.9%. Analysts are closely monitoring these trends for potential impacts on broader market conditions.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.63%
Tags
none
Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) announced a $40,000 sponsorship for the inaugural Keeling Curve Prize Laureate Celebration, promoting climate solutions. This event is part of the Global Warming Mitigation Project, which seeks to enhance funding and visibility for scientific climate initiatives. CoStar’s commitment includes converting vehicles to electric and reducing energy use in its operations, aligning with their sustainability goals. The Keeling Curve Prize awards $250,000 yearly to projects addressing climate change.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.26%
Tags
none
-
Rhea-AI Summary

CoStar Group reports a 51% increase in office availability in central London since the end of 2019, now reaching 31 million square feet. This figure surpasses the peak of 28 million square feet post-2009 financial crisis. The rise in available space stems from the pandemic's impact, leading to decreased leasing and increased subleases. However, leasing activity is stabilizing, with a 'flight to quality' trend indicating ongoing demand for high-quality offices. CoStar emphasizes that demand for lower-grade buildings has significantly dropped, while premium spaces remain favored.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.55%
Tags
none
-
Rhea-AI Summary

Ten-X, the largest online commercial real estate exchange, has crowned Mike King, a Seattle-based real estate broker, as the winner of its inaugural “Battle of the Bids” competition. King secured a grand prize of $1,000,000 and selected Big Brothers Big Sisters of America to receive a $100,000 donation. The competition engaged 15,000 participants, with over $3,000,000 in prizes, demonstrating the platform's appeal and robust data capabilities. The event concluded with a total of $1.5 billion in property bids on the Ten-X platform.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.39%
Tags
none
Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) returns as the lead sponsor for the fifth annual Ultimate Backpack Drive in Richmond, VA, aimed at providing over 50,000 backpacks with school supplies to students in Richmond Public Schools. The event, set for August 11, 2022, will see participation from about 500 CoStar employees, underlining the company's commitment to community support. This sponsorship reflects CoStar's ongoing philanthropic initiatives and strong culture of volunteerism.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.03%
Tags
partnership
-
Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) has been awarded the title of Company of the Year at the 2022 Inman Innovator Awards, recognizing its commitment to innovation and transparency in the real estate industry. In 2022, CoStar launched several key initiatives, including the Citysnap app for New York City and CoStar for Lenders. The company reported a 37% increase in net income year-over-year, with double-digit sales growth in its flagship products. Additionally, CoStar plans to enhance its residential portfolio, including the relaunch of Homes.com.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

CoStar Group released a report on multifamily rent growth trends, revealing a year-over-year growth of 8.4% in July 2022, down from 9.4% in June. The report indicates a significant deceleration in demand, with 230,000 new units projected in the second half of the year. Notably, while Sunbelt markets led rent growth, areas like Palm Beach saw a drastic decrease from 30.6% in Q4 2021 to 12.7% in July 2022. Additionally, twelve markets reported absolute rent declines, the first since 2020, highlighting a troubling trend for the multifamily sector.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.16%
Tags
none
Rhea-AI Summary

CoStar Group (NASDAQ: CSGP) reported a strong second quarter of 2022 with revenue at $536 million, a 12% increase year-over-year. Net income rose 37% to $83 million, while EBITDA increased 5% to $140 million. The company’s net new bookings reached $84 million, surpassing prior records. CoStar, Apartments.com, and LoopNet notably saw double-digit sales increases. The firm is raising its full-year revenue guidance to $2.165-$2.180 billion. For Q3 2022, revenue is expected between $552-$557 million, reflecting approximately 11% growth compared to Q3 2021.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.79%
Tags
none

FAQ

What is the current stock price of CoStar Group (CSGP)?

The current stock price of CoStar Group (CSGP) is $71.44 as of December 20, 2024.

What is the market cap of CoStar Group (CSGP)?

The market cap of CoStar Group (CSGP) is approximately 28.6B.

What is CoStar Group Inc.?

CoStar Group Inc. is a leading provider of commercial real estate information, analytics, and online marketplaces.

When was CoStar Group founded?

CoStar Group was founded in 1987.

What services does CoStar Group offer?

CoStar Group offers extensive real estate data, analytics, and online marketplaces through platforms like CoStar Suite, LoopNet, Apartments.com, and more.

How many registered members does LoopNet have?

LoopNet has over 9.8 million registered members.

Where is CoStar Group headquartered?

CoStar Group is headquartered in Washington, DC.

Which sectors does CoStar Suite cover?

CoStar Suite covers sectors such as office, retail, hotels, multifamily, healthcare, industrial, self-storage, and data centers.

What are some key online apartment resources managed by CoStar Group?

Key online apartment resources managed by CoStar Group include Apartments.com, ApartmentFinder.com, and ApartmentHomeLiving.com.

What percentage of CoStar Group's revenue is subscription-based?

Over 80% of CoStar Group's revenue is subscription-based.

In which countries has CoStar Group recently expanded?

CoStar Group has recently expanded its presence in Canada, the United Kingdom, Spain, and France.

How many unique monthly visitors do CoStar's websites attract?

CoStar's websites attract over 23.6 million unique monthly visitors as of June 2015.

CoStar Group Inc

Nasdaq:CSGP

CSGP Rankings

CSGP Stock Data

28.63B
405.29M
1.14%
101.64%
2.7%
Real Estate Services
Services-business Services, Nec
Link
United States of America
WASHINGTON