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The whole market has taken a pounding this year so far, but JLL, the second-largest brokerage in the world, has taken a bigger beating than most. Since Jan. 5, the stock's dropped over 34%, wiping out nearly $2.5B in market value (as of today).
After a strong 2015 (peaking at close to $180/share in August), JLL’s continued growth has come up against a smorgasbord of obstacles, including rising interest rates, foreign exposure, falling oil prices and the slowdown in the Chinese economy.
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JLL isn’t alone—most of its competitors are also feeling the pain, suggesting that the current real estate cycle could be coming to an end.
CBRE, the world’s largest brokerage has fallen 24% during the same period. Colliers and Marcus & Millichap also posted big losses during the same stretch, with Colliers dropping 19.9% and M&M falling below the $1B market cap mark to $832M. [Crain’s]
