Welcome to our dedicated page for Jones Lang LaSalle news (Ticker: JLL), a resource for investors and traders seeking the latest updates and insights on Jones Lang LaSalle stock.
Jones Lang LaSalle Incorporated (NYSE: JLL) is a global leader in commercial real estate and investment management services, with a history spanning over 200 years. Originating in the United Kingdom, JLL now operates in more than 80 countries and employs over 108,000 people. The company offers a comprehensive range of services to real estate owners, occupiers, and investors, including leasing, property and project management, and capital markets advisory.
Key Services:
- Leasing
- Property and Project Management
- Capital Markets Advisory
- Investment Management
JLL's investment management arm, LaSalle Investment Management, manages over $74 billion for clients across various real estate strategies. The company's strong global platform and local expertise make it a valuable partner in navigating complex real estate markets.
In recent performance highlights, JLL reported an operating income of $290.4 million for the fourth quarter of 2023, up from $254.7 million the previous year. The full year's operating income was $576.5 million, compared to $868.1 million in 2022. Despite economic uncertainties and elevated interest rates, JLL's resilient business lines such as Workplace Management and Property Management have shown significant growth.
JLL is also actively involved in sustainability through initiatives like the JLL Foundation, which supports startups focused on climate change mitigation. Furthermore, the company continues to expand its capabilities with strategic acquisitions, such as the recent addition of SKAE Power Solutions to enhance its data center technical services.
For further information, visit JLL Investor Relations.
On March 3, 2021, JLL (NYSE: JLL) announced a strategic partnership and minority investment in Roofstock, an innovative marketplace in the single-family rental (SFR) sector. This partnership allows JLL to enhance its services in the residential market, while Roofstock acquires Stessa, a leading asset management software for SFR investors, previously owned by JLL Technologies. The collaboration aims to provide comprehensive services for investors, facilitating seamless transactions and portfolio management in the growing SFR market, which is increasingly attracting institutional investors.
On February 22, 2021, Jones Lang LaSalle (NYSE: JLL) announced that Christian Ulbrich, CEO, and Karen Brennan, CFO, will present at the Raymond James Annual Institutional Investors Conference on March 1, 2021, at 7:30 a.m. Eastern time. A live audio webcast will be available on the company's Investor Relations page, with a replay accessible for 90 days post-event. JLL is a leading firm in real estate and investment management, generating $16.6 billion in revenue and operating worldwide.
JLL has promoted Gilda Perez-Alvarado to Global CEO of its Hotels & Hospitality Group, succeeding Mark Wynne-Smith, who will focus solely on Valuation Advisory. Perez-Alvarado, previously CEO for the Americas, is tasked with driving global strategy and enhancing connectivity among Capital Markets teams, aiming to leverage JLL's international footprint and capitalize on rising investor interest in hospitality. With a track record of leading significant transactions, she will also spearhead ESG initiatives within the sector. JLL's Hotels Group has completed over $83 billion in transactions worldwide.
Jones Lang LaSalle (NYSE: JLL) reported its 2020 financial results, highlighting challenges due to the pandemic. Q4 diluted EPS was $4.80, while full-year diluted EPS dropped 29% to $7.70. Total Q4 revenue fell 12% to $4.8 billion, with fee revenue down 19%. Operating cash flow reached a record $1.1 billion. Notably, Property & Facility Management showed resilience. Cost mitigation measures saved approximately $330 million. The company repurchased $100 million in shares in 2020 and plans to repurchase an additional $500 million in 2021, aiming to strengthen its financial position moving forward.
Lewis Investments, based in Round Rock, Texas, has successfully completed a $17 million refinancing deal with JLL (NYSE: JLL). This refinancing involves three core assets and was funded by FNMA, featuring a fixed rate of 2.77% for ten years. The refinance aims to secure a non-recourse loan and leverage historically low interest rates. Despite pandemic-related delays, JLL's team found alternative financing solutions, leading to a successful transaction that exceeded expectations.
Jones Lang LaSalle (NYSE: JLL) will announce its fourth quarter 2020 results on February 9, 2021, at approximately 7:30 a.m. ET. A live webcast and teleconference will follow at 9 a.m. ET. Investors can register through the Investor Relations website. The webcast replay will remain available for 12 months. JLL reported annual revenue of $18.0 billion in 2019 and has over 92,000 employees globally as of September 30, 2020.
On January 5, 2021, JLL Capital Markets announced the successful sale of the Pittock Block in Portland for $326 million, marking the highest price for a single asset in Oregon since 2015. The mixed-use property spans 302,262 square feet and is a key data center and telecommunications hub in the region. JLL represented the seller, Alco Investment Company, and found a buyer in a joint venture involving Harrison Street and 1547 Critical Systems Realty. The building is strategically located in a Qualified Opportunity Zone and serves as one of the Pacific Northwest's primary internet exchanges.
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