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Jones Lang (JLL) Acquires Hank, Boosts Technology Focus

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Jones Lang LaSalle Incorporated JLL — popularly known as JLL — recently acquired Sacramento-based proptech company Hank. The move comes as part of JLL’s focus on technology to solve real-estate challenges.

However, shares of Jones Lang declined marginally on Jan 7, due to broader market concerns.

Co-founded in 2016 by Zachary Denning and Jerremy Spillman, Hank is a virtual engineering platform powered by artificial intelligence. Hank's system helps to solve many of the commercial real estate industry's operational challenges, which include heating, ventilation, and air conditioning programming inconsistencies and energy and equipment performance inefficiencies. Hank's cloud-based platform optimizes energy efficiency, air quality, maintenance costs and tenant comfort and delivers increased net operating income (NOI) to real estate investors.

Per management, "We are thrilled to be part of JLL, which has a strong track record of applying technology, like Hank, to solve real estate's most complex challenges. With JLL, we will have the resources to scale faster to advance healthy, sustainable buildings worldwide."

JLL has a diversified range of real estate products and services and extensive knowledge of domestic and international real estate markets, which helps it operate as a single-source provider of real estate solutions. Its superior client services and strategic investments in technology and innovation are expected to boost the market share and win relationships. The company’s data-driven and experiential technology platform provides a competitive edge and will likely boost client engagements.

JLL currently carries a Zacks Rank #3 (Hold). In the past three months, shares of the company have jumped 2.4% against the industry’s decline of 3.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Key Picks

Some better-ranked picks from the REIT sector are Legacy Housing LEGH, CBRE Group, Inc. CBRE and Kennedy-Wilson Holdings, Inc. KW.

Currently, LEGH sports a Zacks Rank of 1. Shares of Legacy Housing have appreciated 47.7% in the past six months.

The Zacks Consensus Estimate for Legacy Housing’s 2021 earnings per share has been raised 9.9% in the past two months. Over the last four quarters, LEGH’s earnings per share surpassed the consensus mark on all occasions, the average beat being 27.9%.

CBRE Group carries a Zacks Rank #2 (Buy) at present. Shares of CBRE have gained 22.1% in the past six months.

The Zacks Consensus Estimate for CBRE Group’s 2021 earnings per share has been raised 1.9% over the past two months. Over the last four quarters, CBRE’s earnings per share surpassed the consensus mark on all occasions, the average being 41%.

Currently, KW carries a Zacks Rank of 2. Shares of Kennedy-Wilson have appreciated 19.8% in the past six months.

The Zacks Consensus Estimate for Kennedy-Wilson’s 2021 earnings per share has been raised 12.4% over the past two months. Over the last four quarters, KW’s earnings per share surpassed the consensus mark on all occasions, the average being 183%.


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Jones Lang LaSalle Incorporated (JLL) : Free Stock Analysis Report

KennedyWilson Holdings Inc. (KW) : Free Stock Analysis Report

CBRE Group, Inc. (CBRE) : Free Stock Analysis Report

Legacy Housing Corporation (LEGH) : Free Stock Analysis Report

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