Jones Lang LaSalle Incorporated’s JLL global real estate facilities management assignment has been extended by HSBC Holdings plc HSBC to 2021. This three-year extension on the initial five-year term reflects the efficiency and benefits that HSBC continues to experience from JLL’s service.
Notably, JLL’s facilities management services across HSBC’s 55 million-square-foot global real estate portfolio are aimed at providing steady service delivery, risk reduction and cost savings. Moreover, “sustainable savings” created for the bank exceeded “the initial target of $50 million”, as stated by Bill Thummel, Global Account Director.
The early renewal of its largest outsourcing contract is expected to drive steady top-line growth at JLL. Moreover, it reflects high demand for the integrated facilities management services provided by the company. In fact, on behalf of its clients, JLL provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet.
JLL has also proven to be a steady performer. The company posted an earnings surprise of 29.23% in the last reported quarter. Results were driven by growth in fee revenues. The company has delivered positive surprises in all of the trailing four quarters with an average beat of 35.43%. Moreover, JLL’s recent string of buyouts is part of its disciplined acquisition strategy. Such transactions are expected to enhance its service offerings.
JLL currently carries a Zacks Rank #2 (Buy). Moreover, the stock has a Zacks Growth Style Score of ‘A’, reflecting its solid growth potential. According to our style score system, a stock with a favorable Zacks Rank and Zacks Growth Style Score of ‘A’ (or ‘B’) is highly desirable.
Other well-ranked stocks in the real estate space include Henderson Land Development Co. Ltd. HLDCY and CBRE Group Inc. CBG. Both stocks have the same Zacks Rank as JLL.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment