CBRE and JLL stocks down as CRE deals cool

Miami /
Aug.August 24, 2015 11:15 AM

From the New York websiteFirst REITs stumbled, now the major commercial brokerages seem to be following.

The stocks of CBRE and JLL and other major commercial firms are down significantly this month, with the giants losing 8 percent and 8.7 percent of their values, respectively. In addition, Marcus & Millichap stock was down 10 percent, with HFF down a whopping 17 percent.The losses follow a period in which commercial property firms’ stocks outperformed comparable investments in REITs and the SNP 500. Until this month, CBRE was up 11 percent for year, and JLL was up 19 percent, Bloomberg reported.

The disappointing performance suggests the booming growth in commercial property transactions may be “in the rear-view mirror at this point,” Brad Burke, an analyst at Goldman Sachs, told Bloomberg, “This is a natural maturing of the real estate cycle.”

The ratings reductions follow similar expectation adjustments for major REITs. A number of the biggest REITs, including SL Green Realty and Vornado Realty Trust, were downgraded by financial service firms in the last few weeks. [Bloomberg]Ariel Stulberg

 

Related Articles

arrow_forward_ios
Denver Bright, Neil Solomon and William Talbert III
Movers & Shakers: Denver Bright returns to Elliman, PropertyForce promotes CEO & more
Movers & Shakers: Denver Bright returns to Elliman, PropertyForce promotes CEO & more
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Jackie Soffer with 2750 Northeast 199th Street (Google Maps, Turnberry.com)
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Jackie Soffer’s Turnberry proposes office/retail project near Aventura Mall
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
As rent explodes nationally, Miami tops the charts
As rent explodes nationally, Miami tops the charts
Alta Developers’ Raimundo Onetto in front of the development site (Google Maps)
Heading south: Alta buys dev site for apartment complex near Homestead
Heading south: Alta buys dev site for apartment complex near Homestead
Grant Cardone and a rendering of LAs Olas Walk (Cardone Capital, ZOM/McNeal Realty)
Grant Cardone to buy $750M in SoFla apartments
Grant Cardone to buy $750M in SoFla apartments
The current building on Dania Beach (Google Maps)
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...