The Real Deal Miami

Shares of 5 prominent public real estate companies tied to Florida rise in 2014 — mostly

Only one company's stock price dropped

December 31, 2014 03:45PM
By Ina Cordle

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CEOs-stocks

CEOs from left: Robert Sulentic, CBRE; David R. Lukes, Equity One; Sandeep Mathrani, General Growth Properties; Stuart Miller, Lennar; and Jeffrey C. Keil, St. Joe Co.

As the stock markets surged in 2014, so did the shares of many real estate related companies based in  or linked to Florida.

The S&P 500 rose during the year from 1845.86 to 2,080.35, up 12.7 percent.

Here is a glimpse at five publicly traded real estate stocks and how they performed during 2014, through Dec. 30. The companies are either based in Florida or have major operations in the state. Only one of the companies’ shares sank during the year.

CBRE Group (CBG): The Los Angeles-based group operates as a commercial real estate services and investment company worldwide. Its shares opened this year at $26.27 and closed on Dec. 30 at $34.93, up 33 percent.

Equity One (EQY): The North Miami Beach-based real estate investment trust acquires, renovates, develops and manages neighborhood and community shopping centers. Its shares started the year at $22.31 and closed at $25.76 on Dec. 30, or 15.5 percent.

General Growth Properties (GGP): The Chicago-based firm owns, manages, leases and redevelops high-quality regional malls. The company owns various properties in South Florida, including Bayside Marketplace and the Village of Merrick Park, and this year became a minority investor in Miami’s Design District. Its shares opened in 2014 at $20.08 and closed on Dec. 30 at $28.52, jumping 42 percent.

Lennar Corp. (LEN): The Miami-based homebuilder’s shares opened the year at $39.16 and closed at $44.44 on Dec. 30, up 13.5 percent.

St. Joe Co. (JOE): The WaterSound, Florida- based real estate development company’s shares opened at $19.19 this year and closed at $18.67 on Dec. 30, down 2.7 percent.

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