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Sydnee Gatewood
Sydnee Gatewood
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Royce Investment Partners Comments on Altus Group

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October 27, 2020 | About:

In Real Estate, we also enjoyed relative and absolute success with Altus Group (TSX:AIF), a Canadian company that provides real estate consulting and advisory services, which was particularly strong. Its stock price surged after the company reported earnings in August that exceeded expectations, showing a business model with impressive resilience despite COVID-related economic shutdowns. Altus's property tax consulting revenue was also notably strong, with solid growth and expanding margins. All of this suggested to us that its profit outlook is stronger than was previously appreciated by investors. The company's cloud-based services are also adapting well to the work-from-home transition among its clients.

From Royce Investments Partners' International Premier third-quarter 2020 update and outlook.

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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