Leading commercial real estate services firm Jones Lang LaSalle (JLL, Financial) was another contributor in the quarter, trading +25.52% higher on better than expected earnings results. Strong organic growth, along with robust performance from JLL’s recent acquisition of HFF – leading provider of capital market transaction services to the United States and Western Europe – drove double digit increases across fee revenue, adjusted EBITDA, and adjusted EPS. With a 5% increase in semi-annual dividends and a new $200 million share repurchase program announced this quarter, we remain optimistic about JLL’s continued value proposition for shareholders.
From John Rogers (Trades, Portfolio)' Ariel Fund fourth-quarter 2019 commentary.
