Jones Lang LaSalle, Inc. - JLL STOCK NEWS

JLL (NYSE: JLL) hosted an Investor Briefing on Nov. 16, 2022, where leadership discussed the company's long-term growth strategy and set 2025 financial targets. Expected consolidated fee revenue for 2025 is projected between $10 billion and $11 billion, with an adjusted EBITDA margin anticipated between 16% and 19%. JLL aims to maintain a net debt to adjusted EBITDA leverage of 0.0x to 2.0x. The briefing highlights JLL's positioning to capitalize on technological advancements and sustainability trends in the commercial real estate sector.

JLL (NYSE: JLL) has revealed a new global brand positioning, 'SEE A BRIGHTER WAY', aimed at enhancing its services for clients in a complex real estate landscape. Unveiled in Times Square, this initiative showcases JLL's expertise in technology, sustainability, and the future of spaces. The brand aims to leverage advanced technology to improve workplace performance and efficiency, while also focusing on sustainable strategies to reduce carbon emissions. JLL is a leading real estate and investment management firm with an annual revenue of $19.4 billion.

Jones Lang LaSalle (NYSE: JLL) has appointed Moses Ojeisekhoba as an independent, non-executive member of its Board of Directors effective Dec. 1, 2022. Ojeisekhoba brings over 20 years of experience in financial services, serving as CEO Reinsurance for Swiss Re since July 2016. His leadership encompasses global operations and corporate strategy across 20 countries. JLL's Chairman noted Ojeisekhoba's expertise in financial risk and governance will be vital for the firm's growth strategy. JLL reported annual revenues of $19.4 billion and operates in over 80 countries.

JLL's recent research highlights the urgent need to triple retrofitting rates to meet the Paris Agreement's 2050 decarbonization targets, particularly amid rising energy costs. The study reveals that retrofitting can enhance building value through increased rents and occupancy rates. It estimates a $3 trillion investment is required in the office sector to achieve these goals. Collaboration among stakeholders is crucial to transition to low-carbon economies effectively. The findings emphasize that retrofitting is both a viable and responsible strategy for sustainable real estate management.

ACRE, a global real estate private equity firm, has successfully completed a $424 million securitization of 11 multifamily loans through Freddie Mac’s Q program. This transaction, facilitated by ACRE Credit I, involves properties across Georgia, Texas, Colorado, North Carolina, and Arizona. ACRE's partnership with Freddie Mac has led to significant cost savings, achieving a weighted average cost of capital (WACC) at about half the typical cost. The firm has raised $509 million in equity since its inception and aims to provide substantial returns for its investors.

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Jones Lang LaSalle (JLL) reported Q3 2022 results, with total revenue of $5.2 billion, a 10% increase in local currency, and diluted EPS of $2.88, down 37% year-over-year. Fee revenue rose 4% to $2.0 billion, driven by strong demand in Work Dynamics, which saw a 14% increase. However, Capital Markets experienced a 13% revenue decline due to rising interest rates and elongated deal cycles. Net income dropped by 41% to $140.2 million. Cash flow from operations was significantly lower, with Free Cash Flow at $88.4 million, compared to $414.6 million last year.

JLL's Capital Markets group has successfully closed the sale of 175 Water St. in downtown Manhattan for $252 million. This 31-story office tower spans 684,500 square feet and is fully vacant, presenting various repositioning opportunities. Renovated in 2014, it features flexible floorplates and ample natural light. The Seaport District, where the tower is located, is undergoing significant revitalization, with over $30 billion invested in the area. JLL represented the seller, Vanbarton Group, in this transaction, which highlights the strengthening interest in New York City's office market.

Booking Holdings has appointed Larry Quinlan, former Global Chief Information Officer of Deloitte, to its Board of Directors effective October 13, 2022. Quinlan brings over 35 years of technology leadership experience, having managed a global team of 10,000 IT professionals at Deloitte. His expertise in digital strategy, cybersecurity, and emerging technologies is expected to add significant value to Booking Holdings as it continues to innovate in the travel sector.