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JLL Signs Deal with Tennessee for Building Maintenance
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Jones Lang LaSalle Incorporated (JLL - Free Report) , popularly known as JLL, has inked a new deal with the State of Tennessee for better management of the state-owned properties. Professional management of the state-owned properties is proving to be successful as it is not only enhancing the quality of services but also resulting in handsome savings.
Notably, facilities management outsourcing program was initiated in the state of Tennessee in 2013. The initial project, which included 10% state properties, fetched better service and generated over $26 million savings through 2016. Moreover, it is expected that the project will result in $40 million savings through 2017 and generate $50 million five-year taxpayer savings by Jun 30, 2018. The initial success of the facilities management outsourcing program may have prompted the state of Tennessee to expand relationship with JLL.
Chicago-based JLL is a leading full-service real corporate estate firm that provides, financial and investment management services to corporations and other real estate owners, users, and investors worldwide. Per the new contract, the state of Tennessee will have the discretion to direct some state departments to outsource facilities management. Universities and colleges, which are owned by the state, will have the option of leveraging JLL services and can explore the opportunity to enhance facilities management and curtail expenses.
Shares of JLL have outperformed the Zacks categorized Real Estate – Operations industry in the last six months. Shares of the company have increased 13.9%, whereas the industry gained 10.2%.
Currently, JLL carries a Zacks Rank #4 (Sell).
Investors interested in the real estate space, may consider better-ranked stocks like FirstService Corporation (FSV - Free Report) , HFF, Inc. (HF - Free Report) and DiamondRock Hospitality Company (DRH - Free Report) . While both FirstService Corporation and HFF sport a Zacks Rank #1 (Strong Buy), DiamondRock Hospitality Company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last 30 days, FirstService Corporation’ earnings per share estimate for second-quarter 2017 remained unchanged at 39 cents.
In the last 30 days, HFF’s earnings per share estimate for second-quarter 2017 remained unchanged at 40 cents.
In the last 30 days, DiamondRock Hospitality Company’ funds from operations (FFO) per share for second-quarter 2017 remained unchanged at 31 cents.
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.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
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JLL Signs Deal with Tennessee for Building Maintenance
Jones Lang LaSalle Incorporated (JLL - Free Report) , popularly known as JLL, has inked a new deal with the State of Tennessee for better management of the state-owned properties. Professional management of the state-owned properties is proving to be successful as it is not only enhancing the quality of services but also resulting in handsome savings.
Notably, facilities management outsourcing program was initiated in the state of Tennessee in 2013. The initial project, which included 10% state properties, fetched better service and generated over $26 million savings through 2016. Moreover, it is expected that the project will result in $40 million savings through 2017 and generate $50 million five-year taxpayer savings by Jun 30, 2018. The initial success of the facilities management outsourcing program may have prompted the state of Tennessee to expand relationship with JLL.
Chicago-based JLL is a leading full-service real corporate estate firm that provides, financial and investment management services to corporations and other real estate owners, users, and investors worldwide. Per the new contract, the state of Tennessee will have the discretion to direct some state departments to outsource facilities management. Universities and colleges, which are owned by the state, will have the option of leveraging JLL services and can explore the opportunity to enhance facilities management and curtail expenses.
Shares of JLL have outperformed the Zacks categorized Real Estate – Operations industry in the last six months. Shares of the company have increased 13.9%, whereas the industry gained 10.2%.
Currently, JLL carries a Zacks Rank #4 (Sell).
Investors interested in the real estate space, may consider better-ranked stocks like FirstService Corporation (FSV - Free Report) , HFF, Inc. (HF - Free Report) and DiamondRock Hospitality Company (DRH - Free Report) . While both FirstService Corporation and HFF sport a Zacks Rank #1 (Strong Buy), DiamondRock Hospitality Company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last 30 days, FirstService Corporation’ earnings per share estimate for second-quarter 2017 remained unchanged at 39 cents.
In the last 30 days, HFF’s earnings per share estimate for second-quarter 2017 remained unchanged at 40 cents.
In the last 30 days, DiamondRock Hospitality Company’ funds from operations (FFO) per share for second-quarter 2017 remained unchanged at 31 cents.
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.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>