Credit: Shutterstock photoJones Lang LaSalle IncorporatedJLL , popularly known as JLL has made the announcement of acquiring the Chicago affiliate of Integra Realty Resources ("IRR"). This strategic acquisition of the commercial real estate valuation, counseling and advisory firm is likely to strengthen JLL's global valuation and advisory services.
Chicago-based JLL is a leading full-service real estate firm that provides corporate, financial and investment management services to corporations and other real estate owners, users, and investors worldwide. On the other hand, experts of the Chicago affiliate of IRR are engaged in providing consulting, valuation, feasibility and market study services for industrial, commercial office, hospitality, retail, and multifamily properties.
It is to be noted that the real estate operations company acquired the Houston affiliate of IRR in October and Dallas affiliate of IRR in early December. The latest acquisition completes the third significant and strategic acquisition JLL has made over the last several months. Given IRR-Chicago's proven record in valuations and real estate data and technology strategies, it is expected that the acquisition will enable JLL to provide excellent service to the clients.
Shares of JLL underperformed the Zacks categorized Real Estate-Operations industry, year to date. During the same time , shares of JLL plunged 36.8%, whereas the industry made a loss of only 0.4%. Further, over the past one month, current year estimates of the company declined 2.2% to $8.33 per share.
JLL currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the real estate space include AGNC Investment Corp. AGNC , Seritage Growth Properties SRG and DCT Industrial Trust Inc. DCT . While AGNC Investment sports a Zacks Rank #1 (Strong Buy), both Seritage Growth and DCT Industrial Trust carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
AGNC Investment's current-year estimates have moved up 7.3% to $2.36 per share, over the past 60 days.
Seritage Growths' current-year estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
DCT Industrial Trust's current-year estimates have moved up 2.3%, over the past 60 days to $2.24 per share.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
