Michael McDonald and Jonathan Napper – former top investment sales producers at Cushman & Wakefield – have joined JLL as senior managing directors in its…
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Andrew R. McDonald , President at Cushman & Wakefield (NYSE: CWK ), reported a large insider sell on August 16, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Tuesday showed that McDonald sold 10,247 shares of Cushman & Wakefield . The total transaction amounted to $169,075. Cushman & Wakefield shares are trading down 1.44% at $16.43 at the time of this writing on Wednesday morning. Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm. Why Insider Transactions Are Important Insider transactions shouldn''t be used primarily … Full story available on Benzinga.com
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One Abandoned NYC Block Is "Frozen" In Peak-Pandemic Time Life in most places is making an attempt to move forward from the pandemic lockdowns. But for one city block in New York, that isn''t the case. Outside of the 59th Street subway stop, across Lexington Avenue, Bloomberg writes you can still find an entire block "frozen" in peak-pandemic time. The area, which used to be prime New York real estate, was formerly the home of Banana Republic, the Gap and Victoria''s Secret. Now, all people see are signs trying to find tenants for the empty buildings. Steve Soutendijk, an executive managing director at Cushman & Wakefield, told Bloomberg: “It’s probably the slowest market to return to pre-Covid levels out of any in New York City. It’s a little bit of a mystery.” This block is a microcosm of how slow the city has been to recover, post-lockdowns, the report says. It was also suffering heading into Covid, with ridership exiting at 59th Street "declining for years" and businesses starting to select other parts of the city in favor of occupying the block.
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Shares of commercial real estate brokers have underperformed the real estate investment trust (REIT) and the broader stock market by a wide margin this year, and they could remain "choppy" in the coming months, but JPMorgan analyst Anthony Paolone said "a lot of the damage appears to be done." Shares of CBRE Group Inc. have dropped 29.7% year to date, Cushman & Wakefield PLC have slumped 30.9% and Jones Lang LaSalle Inc. have tumbled 34.4%, while the SPDR Real Estate Select Sector ETF has declined 19.7% and the S&P 500 has lost 18.3%. Paolone said the CRE brokers have been hurt, as rising interest rates have put damped capital market activity, especially selling CRE assets, just as year-over-year financial comparisons are getting increasingly difficult, and amid increasing signs of re-trading of deals. However, he said this year''s stock declines are already "pretty well explained" by those concerns. So for investors who can stomach some volatility near term, he said the CRE services sector is "attractive," with "very strong" balance sheets, and should reward investors. "We still believe that the market share opportunity and increased diversification of the businesses lines for the largest firms in the sector are secular tailwinds that should drive growth," Paolone wrote in a note to clients.
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Cushman & Wakefield (CWK) and Newmark Group (NMRK) are said not to be involved in discussions about a possible deal after renewed speculation about a potential tie up was reported…
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Cushman & Wakefield (CWK) rose 1% on a report about speculation that the real estate broker and Newmark Group (NMRK) may merge. There was "buzz" at the Real Estate Board of New York''s…
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The merger chatter gained added currency with an inside tip that Cushman & Wakefield, which is now based at Vornado’s 1290 Sixth Ave., secretly signed a lease to move its offices to Brookfield’s 660 Fifth Avenue.
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Photo by Leohoho on Unsplash This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. In real estate, things change quickly. Despite two years of bad economic news, investors are again turning to real estate to rebalance their portfolios. The issuance of commercial mortgage -backed securities and commercial loan obligations has grown from $64.3 billion in 2020 to $154.6 billion in 2021, with total commercial and multifamily lending reaching a record of $690 billion last year, according to Trepp LLC, a commercial real estate data and insight provider. In its Spring 2022 Occupier Sentiment Survey, CBRE Group Inc. (NYSE: CBRE ) found that while 52% of companies plan to reduce their office footprints over the next three years, 39% are still intending to expand their offices. Major commercial real estate firms like Cushman & Wakefield PLC (NYSE: CWK ) and Newmark Group Inc. (NASDAQ: Full story available on Benzinga.
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HOUSTON, April 27, 2022 (GLOBE NEWSWIRE) -- Carriage Services, Inc. (NYSE: CSV ): today announced results for the first quarter ended March 31, 2022. Record Quarterly Revenue of $98.2 million, GAAP Diluted EPS of $1.00 and Adjusted Diluted EPS of $0.92; Invested $168.5 million since May 13, 2021 to repurchase 3.4 million shares (19% of outstanding) at $49.60 per share; Capital Allocation now focused on internal growth (mostly cemetery property development) and high quality acquisitions; Updated Rolling Four Quarter Outlook and Three Year Roughly Right Ranges Performance Scenario Through 2024; Discretionary Trust Fund Positive Total Return of 4.3%; and Management''s Opinion of Intrinsic Value Roughly Right Range remains at $70 to $80 per share. Mel Payne, Chairman and CEO, stated, "I highly recommend that anyone interested in Carriage for any reason read my most recent 2021 Shareholder Letter, co-written by the three other members of our Strategic Vision and Principles Group (SVPG), Carlos Quezada, Ben Brink and Steve Metzger, together with our Proxy Statement for our Annual Meeting of stockholders on May 17, 2022.
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