Colliers Intl Group Inc Stock Price, News & Analysis

Colliers (CIGI) released its 2021 Global Impact Report, detailing commitments to ESG strategies. Key achievements include managing 110 million square feet of green-certified properties and 39% female representation in the workforce. The report outlines ambitious targets, such as achieving net zero emissions by 2030 and increasing the share of female employees to 40% by 2025. Colliers emphasizes its role in promoting a sustainable and inclusive built environment for clients and communities.

Colliers International Group has enhanced its financial capabilities by extending its unsecured multi-currency revolving credit facility to $1.5 billion, maturing in May 2027. This marks an increase from the previous $1.0 billion and supports the company's growth and acquisition strategies. The sustainability-linked facility aligns with Colliers' ESG goals, focusing on reducing greenhouse gas emissions, enhancing female representation in management, and obtaining WELL Health-Safety certification. The credit facility was supported by eleven major banks, reflecting their confidence in Colliers.

Colliers International Group (CIGI) has declared a semi-annual cash dividend of US$0.15 per Common Share, payable on July 14, 2022. Shareholders of record as of June 30, 2022 will be eligible for this dividend, which is considered an 'eligible dividend' for Canadian income tax purposes. With an annual revenue of US$4.3 billion and US$57 billion in assets under management, Colliers operates in 62 countries with a strong focus on real estate and investment services.

Colliers (CIGI) announced the acquisition of a majority interest in Paragon Building Consultancy, a leading UK building consultancy and project management firm. This merger aims to enhance Colliers’ project management capabilities in the UK and Europe. Paragon's management team will lead the integrated operations while retaining significant equity. With a workforce of 150 professionals, Paragon specializes in building surveying and environmental assessments. The acquisition is expected to strengthen Colliers’ service offerings and client reach, aligning with its growth strategy in the region.

Colliers has signed a definitive agreement to acquire a 65% stake in Rockwood Capital, a prominent US real estate investment firm managing over $12 billion in assets. The transaction, expected to close in Q3 2022, aims to diversify Colliers’ investment management platform by adding new asset classes and strategies, particularly in real estate credit. Colliers anticipates an annual management fee revenue run rate between $70 million and $75 million, significantly boosting its operating results and aligning with its growth strategy to enhance investor offerings.

Colliers International Group (CIGI) reported a strong financial performance for Q1 2022, with revenues reaching $1 billion, a 29% increase from the previous year. Adjusted EBITDA climbed to $121.5 million (+32%), while adjusted EPS rose to $1.44 (+38%). However, GAAP operating earnings were $40.8 million, reflecting a $26.1 million loss from the disposal of Russian operations. Leadership changes include Chris McLernon as CEO of Real Estate Services, and the company is actively pursuing acquisitions, totaling over $400 million this year, enhancing service line diversification.

Colliers has announced the appointment of Chris McLernon as CEO of Real Estate Services| Global, effective July 1, 2022. McLernon, who has been with the company since 1987, will focus on growth and operational excellence. He previously led the EMEA region, where he grew revenues from $30 million to over $700 million. Davoud Amel-Azizpour, the current CFO of EMEA, will succeed him as CEO of that region. The transitions aim to enhance Colliers’ leadership and support ambitious growth plans.

On April 5, 2022, Colliers International Group (CIGI) held its annual shareholder meeting, where all ten director nominees were successfully elected. Notably, Peter F. Cohen received 91.45% approval. Additionally, shareholders approved PricewaterhouseCoopers as the auditor, an amendment to the stock option plan adding 1,000,000 shares, and a non-binding advisory resolution on executive compensation. Colliers operates in 62 countries, reporting annual revenues of $4.1 billion and managing over $50 billion in assets.

Colliers (NASDAQ, TSX: CIGI) has completed two significant acquisitions in Italy: Colliers Italy, a full-service commercial real estate firm, and Antirion SGR, a leading real estate investment management company. This strategic move strengthens their position in a vital European market. Senior leadership from both firms will maintain operations and significant ownership under Colliers’ partnership model. Antirion will transition to Colliers Global Investors Italy following the closure of the deal.