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Sydnee Gatewood
Sydnee Gatewood
Articles (2604) 

John Rogers Comments on Jones Lang LaSalle

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July 28, 2020 | About:
Jones Lang LaSalle (NYSE:JLL) also underperformed in the quarter, as the pandemic has been a significant headwind for commercial real estate transaction activity. While management withdrew the 2020 outlook for its brokerage segment, we believe the company’s diverse business model and annuity like non-transaction revenue mix, such as corporate outsourcing will help offset weakness in the cyclical leasing business. For instance, customers are engaged with JLL to discuss bringing employees back to their office spaces, including potential space re-configurations, increased cleaning and security and more advisory and technology -led solutions. In addition, we believe JLL has sufficient liquidity to weather the storm. At current levels, the company is trading at a 25% discount to our estimate of private market value.

From John Rogers (Trades, Portfolio)' Ariel Fund second-quarter 2020 commentary.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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