Jones Lang LaSalle Inc. (JLL) reported third quarter earnings of 61 cents per share, which were above the Zacks Consensus Estimate by a penny. The company earned 66 cents per share in the year-ago quarter. Revenues for the quarter came in at $595.3 million compared to $677.08 million recorded in the year-ago quarter. Jones Lang divides its business into two primary segments: Investor and Occupier Services (IOS) and Investment Management (IM). The IOS segment is sub-divided into three geographic regions – the Americas, EMEA (Europe, Middle East, Africa) and Asia Pacific.   Revenues from the EMEA segment declined 26% to $154 million, while in the Americas region revenues came in at $239 million thus reflecting a decline of 6%. However, in the Asia-Pacific region revenues increased 2.9% to $136 million. The IOS division contributed approximately 89% of total revenue in the quarter. Total operating expenses for ...

Jones Lang LaSalle Inc. (JLL), a leading real estate investment trust (REIT), has been selected by SunTrust Banks Inc. (STI), a premier banking organization in the U.S., to provide integrated facility management services across its entire portfolio spanning 16 million square feet.

With the deal, Jones Lang would be entrusted to effectively manage the day-to-day tasks related to the operations across SunTrust’s facilities. SunTrust operates an extensive branch and ATM network throughout Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and Washington, DC. Jones Lang’s leading position in property and corporate facility management services would enable it to improve the operational efficiency of SunTrust.

On the other hand, the deal strengthens Jones Lang’s position in the market and offers it an expanded role in the operations of one of the largest banking organizations of the country. Jones Lang is a leading full-service real estate firm that provides corporate, financial,

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Jones Lang LaSalle Inc. (JLL), a leading real estate investment trust (REIT), recently reasserted its strategic alliance with Cisco Systems, Inc. (CSCO), a premier global Internet networking services company, and further extended it for five years. The mutually beneficial partnership encompasses transaction management, lease administration, and surplus property management services of the 24 million square feet global portfolio of Cisco. The deal strengthens Jones Lang’s position in the market and offers it an expanded role in the operations of Cisco. Jones Lang had been delivering real estate services to Cisco since 2001. The company offered an established global platform, resources, and expertise that enabled Cisco’s Workplace Resources Group to attain operational excellence. The Real Estate and Workplace Resources Group of Cisco is responsible for construction and development worldwide as well as facility and security operations. Jones Lang is a leading full-service real estate firm that ...

According to a report published by Jones Lang LaSalle Incorporated (JLL), a leading real estate investment trust (REIT), the U.S. commercial real estate (CRE) market boom is likely to occur early in the next decade at the earliest. During the second quarter of 2009, CRE sales were $5.2 billion compared to $30.7 billion in the year-earlier quarter and drastically down from $114.7 billion in the second quarter of 2007. In the first half of 2009, CRE sales were $16 billion -- down 80% year over year, and down 93% compared to the first half of 2007. The decline is primarily due to the credit-constrained market, which has virtually shut down avenues like mortgage lending and other loans essential for real estate sales and refinancing. The credit crunch has widened the bid-ask spread between buyers and sellers of CRE, which has further caused deal volumes to fall ...

According to a report published by Jones Lang LaSalle Incorporated (JLL), a leading real estate investment trust (REIT) in the U.S., the retail market is likely to recover in 2010, with discount retailers benefiting the most from the recovery.   The continued softness in the economy has led to a reduction in disposable income and a cut in consumer discretionary spending. Consequently, consumers are more attracted to national and local department stores and discount stores that offer products at fire-sale prices. The JLL report added that B- and C-level retail centers, which offer merchandise at discounted prices, are better positioned to lead the market recovery through increased consumer traffic in their stores. Furthermore, these retailers are also quite flexible and modify their business strategies to realign the inventory to sales trends. In order to support its claim, the report has cited the meteoric rise of Costco ...

McDonald’s Corp. (MCD), a premier global foodservice retailer, recently renewed its strategic alliance with Jones Lang LaSalle Inc. (JLL), a leading real estate investment trust (REIT) in the U.S.   Under the terms of the deal, Jones Lang LaSalle will continue providing transaction management and project management services for 25 leased regional offices of McDonald’s across the country. The company would also provide facility management and project management services to McDonald’s for its 831,000 square feet of space in the western suburbs of Chicago.   Jones Lang LaSalle is a leading full-service real estate firm that provides corporate, financial, and investment management services. The company caters to corporations and other real estate owners, users, and investors worldwide. A broad real estate product and service range, and extensive knowledge of domestic and international real estate markets enable it to operate as a single-source provider of real estate solutions....

According to a report published by Jones Lang LaSalle, Incorporated (JLL), a leading full-service real estate firm, direct investments in commercial real estate (CRE) in Europe declined by 42% in the first half of 2009, compared to the last six months of 2008.   Jones Lang LaSalle provides corporate, financial and investment management services to corporations and other real estate owners, users as well as investors worldwide. The company has a broad real estate product and service range and an extensive knowledge of domestic and international real estate markets. The company has approximately 180 offices worldwide serving clients in about 60 countries.   The current problems in the credit markets will continue to have a negative effect on real estate prices in the US and Europe. Overall real estate fundamentals are worsening across most property types in the US, Europe and Asia. Europe has been especially hard hit. ...

Chicago-based Jones Lang LaSalle, Incorporated (JLL) is a leading full-service real estate firm that provides corporate, financial, and investment management services. The company caters to corporations and other real estate owners, users, and investors worldwide.JLL reported net income of $1.17 per share in 4Q08 compared to $3.16 in 4Q07. Full year earnings were $2.44 per share vs. $7.64 in 2007. Excluding nonrecurring charges, full year earnings were $3.71 per share. The company's Americas region performed well in the quarter while Asia and Europe lagged. Transaction and leasing volumes declined in 2008, and this year will not be much better.As such, we expect revenue to continue trending down well into 2009. We maintain our Hold rating based on valuation and the company's long term outlook. JLL is still the best positioned commercial real estate services company. In addition, recent acquisitions should incrementally add to earnings ...

Chicago-based Jones Lang LaSalle, Incorporated (JLL) is a leading full-service real estate firm that provides corporate, financial, and investment management services. The company caters to corporations and other real estate owners, users, and investors worldwide. Jones Lang LaSalle has approximately 180 offices worldwide in about 750 cities and 60 countries.Global commercial real estate markets are rapidly deteriorating. Transaction volumes are declining due to a lack of available financing. As such, we expect revenue to continue trending down well into 2009. The company reported a large decline in capital markets income in the 3rd quarter. In addition, operating and integration expenses are increasing due to acquisition activity in 2007 and 2008. We have slashed our 2009 EPS estimates by 30% in response.Despite softening fundamentals, we still rate JLL a Hold, based primarily on valuation. The company is the best-positioned global real estate services ...

RAIT Financial Trust (RAS) reported good 2Q results with adjusted EPS coming in at $0.54 per share, up about 6% from last quarter. RAS continues to pay off repurchase lines and the company’s commercial and residential loans still have low overall delinquencies. The yield is now over 30% and the company continues to cover the dividend ($0.46 per share) with operating cash. Due to the high yield and what we feel is a slightly improving outlook for credit markets, we are continuing our Hold recommendation.

Due to recent share price declines, RAIT represents good value in a battered sector. The company’s economic book value was $13.90 at quarter end, up from $10.52 at year end 2007. The company is trading at about .4x economic book. Economic book is a better gauge of a company’s value, as it excludes unrealized losses that are in excess of what the company has

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