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Core Viewpoint - Jones Lang LaSalle (JLL) reported strong second-quarter earnings, with adjusted EPS of $2.55, exceeding estimates and reflecting a year-over-year increase from $2.12 to $2.55, driven by resilient business lines and effective cost management [2][3]. Financial Performance - JLL's revenues for Q2 2024 reached $5.63 billion, an 11.4% increase from the previous year, surpassing the Zacks Consensus Estimate of $5.35 billion [3]. - The Markets Advisory segment generated revenues of $1.08 billion, up 5.2% year-over-year, primarily due to growth in Leasing across various regions, especially in the United States, Greater China, India, and Germany [3]. - The Capital Markets segment reported revenues of $457.6 million, a 2.1% increase year-over-year, with broad-based growth across all business lines despite macroeconomic challenges [5]. - The Work Dynamics segment saw revenues of $3.93 billion, a significant 16.6% increase year-over-year, driven by strong performance in Workplace Management and Project Management [6]. - Conversely, the JLL Technologies segment experienced a revenue decline of 6.9% to $56.4 million, attributed to lower contract signings and delayed technology spending decisions [7]. - The LaSalle segment's revenues fell 28.7% to $102.6 million, primarily due to decreased incentive and advisory fees linked to lower assets under management (AUM) [8]. Assets Under Management - As of June 30, 2024, LaSalle's AUM was $86.6 billion, down from $93.2 billion a year prior, influenced by dispositions, withdrawals, and valuation decreases [9]. Balance Sheet - JLL ended Q2 2024 with cash and cash equivalents of $424.4 million, an increase from $396.7 million at the end of Q1 2024 [10]. - The net leverage ratio improved to 1.7 from 1.9 in Q1 2024, indicating better financial health [10]. - The company repurchased 103,701 shares for $20.1 million during the quarter, with $1.053 billion remaining authorized for future repurchases [11]. Market Outlook - There has been an upward trend in estimates revisions for JLL, with a Zacks Rank of 3 (Hold), suggesting an expectation of in-line returns in the coming months [12][14]. - JLL's VGM Score is A for growth and momentum, and B for value, placing it in the top 40% for investment strategies [13]. Industry Comparison - In the same industry, CBRE Group reported revenues of $8.39 billion for the quarter ended June 2024, reflecting an 8.7% year-over-year increase, with an EPS of $0.81 [15]. - CBRE is expected to post earnings of $1.06 per share for the current quarter, indicating a year-over-year change of 47.2% [16].

CHICAGO, Sept. 4, 2024 /PRNewswire/ -- JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.6 billion in portfolio equity and debt investments, announced today that it has fully subscribed JLLX Diversified IV, DST. The $120 million program was structured as a Delaware Statutory Trust designed to provide 1031 exchange investors the opportunity to reinvest proceeds from the sale of appreciated real estate while also deferring taxes ...

Transparency improved globally in 2024, with Asia rising as a standout as markets make progress toward sustainability goals and AI adoption CHICAGO, Aug. 27, 2024 /PRNewswire/ -- Real estate transparency is more critical than ever in times of uncertainty, and markets emerging as the most transparent are pulling further ahead based on investments in technology integration and AI, data availability and sustainability. This is according to JLL and LaSalle's (NYSE: JLL) biennial, proprietary Global Real Estate ...

JLL Hotels & Hospitality group arranged acquisition financing for the 1,641-key convention center resort near Orlando's top tourist attractions ORLANDO, Aug. 19, 2024 /PRNewswire/ -- JLL Hotels & Hospitality group announced today that it secured $620 million in acquisition financing for Hyatt Regency Orlando, a 1,641-key, AAA Four Diamond resort in Orlando, Florida. JLL represented affiliates of RIDA Development Corporation and an Ares Management Real Estate fund to secure the floating-rate, five-year loan ...

Jones Lang LaSalle Incorporated (JLL) , popularly known as JLL, is likely to benefit from the continued strength of its resilient lines of business and favorable outsourcing trends. However, persistent macroeconomic uncertainty and a high interest rate environment remain concerns. What's Aiding It? JLL is poised to benefit from its wide range of real estate products and services offerings, as well as extensive knowledge of domestic and international real estate markets, thus enabling it to operate as a sing ...

Core Insights - JLL Spark Global Ventures has led a Series A investment round in PROBIS, a company focused on AI-powered financial management solutions for real estate development [1][2] - The investment aims to enhance PROBIS' capabilities in cloud-based project controlling and drive digital transformation in the real estate industry [2][4] Company Overview - PROBIS, headquartered in Munich, offers a scalable cloud-based platform for financial process management, targeting real estate owners, banks, project developers, and investors [5] - Founded in 2022, PROBIS has quickly established itself as a leading provider of multi-project controlling software, completing up to 1,000 projects annually [5] - The management team has 20 years of experience in digital cost control for major developments, ensuring cost security and control from early project stages [5] Investment Details - JLL Spark's investment is part of a broader strategy to support PropTech companies that provide innovative solutions to the real estate sector [3][4] - The partnership will leverage JLL's resources and expertise in PropTech and FinTech to enhance PROBIS' software solutions [3][4] - The Series A funding round emphasizes PROBIS' commitment to utilizing technology for improved AI-based financial control [4] Strategic Goals - The collaboration aims to redefine project and development management by combining PROBIS' AI-driven solutions with JLL's industry expertise [4] - The investment is seen as a pivotal step in JLL's digital transformation efforts within its Project & Development Services [4] - The partnership is expected to establish new standards in ESG, revenue, and construction cost control, ultimately delivering enhanced value for clients [4]

CHICAGO , Aug. 7, 2024 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ:ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.6 billion in portfolio equity and debt investment assets, announced that on August 6, 2024, its Board of Directors declared a dividend for the third quarter of 2024 of $0.1575 per share. This will be the 51st consecutive dividend paid to its stockholders. The dividend is payable on or around September 26, 2024 to stockholders of record as o ...

CHICAGO, Aug. 7, 2024 /PRNewswire/ -- JLL Income Property Trust, an institutionally managed, daily NAV REIT (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $6.6 billion in portfolio equity and debt investment assets, will hold a public earnings call on Wednesday, August 14, 2024 at 9:00 AM CT to review second quarter operating and financial results. Gregg Falk, Chief Financial Officer, and Sean Meehan, Portfolio Manager, will present an overview of recent economic events that directly influence ...

For the quarter ended June 2024, Jones Lang LaSalle (JLL) reported revenue of $5.63 billion, up 11.4% over the same period last year. EPS came in at $2.55, compared to $0.50 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $5.35 billion, representing a surprise of +5.12%. The company delivered an EPS surprise of +10.87%, with the consensus EPS estimate being $2.30. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...