We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
JLL Closes Acquisition of HFF, Boosts Capital Market Business
Read MoreHide Full Article
Jones Lang LaSalle Incorporated (JLL - Free Report) — popularly known as JLL — has completed its acquisition of HFF Inc. This cash-and-stock transaction, valued at about $1.8 billion and first announced in March 2019, comes as part of JLL’s effort to substantially boost its Capital Markets business.
Notably, HFF offered clients a fully-integrated capital market platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and commercial loan servicing. The company has closed more than $800 billion in excess of 27,000 transactions since 1998 and generated revenues of more than $650 million in 2018.
Therefore, following the acquisition, with a global team of more than 3,700 capital market professionals across 47 countries, JLL now has a superior ability to offer capital market services and expertise to its clients. Also, the combined entity is projected to deliver significant run-rate synergies, estimated at around $60 million, over two to three years.
Former CEO of HFF — Mark Gibson — has joined JLL as CEO, Capital Markets, Americas, as well as the co-chair of its Global Capital Markets Board.
JLL financed the cash part of the purchase price consideration with a mixture of cash reserves and its existing syndicated credit facility.
Admittedly, JLL has a diversified product & services range which helps register balanced revenue growth across its operating markets. Also, spate of strategic investment activities, in a bid to capitalize on market consolidations, will likely boost its long-term profitability. In fact, market-share expansion will help JLL achieve stellar growth and a decent cash level, aiding consistent and timely deleveraging.
JLL currently carries a Zacks Rank #3 (Hold). So far this year, shares of the company have gained 11.2%, underperforming the industry’s 24.8% increase.
Stocks to Consider
Investors interested in the real estate industry can consider some better-ranked stocks like FirstService Corporation (FSV - Free Report) , CBRE Group Inc. (CBRE - Free Report) and Cushman & Wakefield (CWK - Free Report) . While FirstService Corporation currently flaunts a Zacks Rank of 1 (Strong Buy), CBRE Group and Cushman & Wakefield has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FirstService Corporation’s 2019 EPS moved up nearly 5% to $2.96, over the last 30 days.
CBRE Group has seen the Zacks Consensus Estimate for the current-year EPS being revised 0.8% upward over the past two months to $3.61.
Cushman & Wakefield’s Zacks Consensus Estimate for the ongoing year’s EPS have been revised marginally north to $1.66, in seven days’ time.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Image: Bigstock
JLL Closes Acquisition of HFF, Boosts Capital Market Business
Jones Lang LaSalle Incorporated (JLL - Free Report) — popularly known as JLL — has completed its acquisition of HFF Inc. This cash-and-stock transaction, valued at about $1.8 billion and first announced in March 2019, comes as part of JLL’s effort to substantially boost its Capital Markets business.
Notably, HFF offered clients a fully-integrated capital market platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and commercial loan servicing. The company has closed more than $800 billion in excess of 27,000 transactions since 1998 and generated revenues of more than $650 million in 2018.
Therefore, following the acquisition, with a global team of more than 3,700 capital market professionals across 47 countries, JLL now has a superior ability to offer capital market services and expertise to its clients. Also, the combined entity is projected to deliver significant run-rate synergies, estimated at around $60 million, over two to three years.
Former CEO of HFF — Mark Gibson — has joined JLL as CEO, Capital Markets, Americas, as well as the co-chair of its Global Capital Markets Board.
JLL financed the cash part of the purchase price consideration with a mixture of cash reserves and its existing syndicated credit facility.
Admittedly, JLL has a diversified product & services range which helps register balanced revenue growth across its operating markets. Also, spate of strategic investment activities, in a bid to capitalize on market consolidations, will likely boost its long-term profitability. In fact, market-share expansion will help JLL achieve stellar growth and a decent cash level, aiding consistent and timely deleveraging.
JLL currently carries a Zacks Rank #3 (Hold). So far this year, shares of the company have gained 11.2%, underperforming the industry’s 24.8% increase.
Stocks to Consider
Investors interested in the real estate industry can consider some better-ranked stocks like FirstService Corporation (FSV - Free Report) , CBRE Group Inc. (CBRE - Free Report) and Cushman & Wakefield (CWK - Free Report) . While FirstService Corporation currently flaunts a Zacks Rank of 1 (Strong Buy), CBRE Group and Cushman & Wakefield has a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for FirstService Corporation’s 2019 EPS moved up nearly 5% to $2.96, over the last 30 days.
CBRE Group has seen the Zacks Consensus Estimate for the current-year EPS being revised 0.8% upward over the past two months to $3.61.
Cushman & Wakefield’s Zacks Consensus Estimate for the ongoing year’s EPS have been revised marginally north to $1.66, in seven days’ time.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>