Jones Lang LaSalle's JLL Spark Division Acquires Stessa

Jones Lang LaSalle (NYSE:JLL) , popularly known as JLL, had launched a new division called JLL Spark in 2017 to bring change in the real estate industry with the help of technology. Recently, in sync with its efforts, JLL Spark acquired Stessa, a real estate “software-as-a-service” technology platform.

With the help of Stessa, investors can easily track and manage their portfolio of income generating properties. The company has been developed by real estate investors to simplify the requirements, faced by investors on an everyday basis. It allows investors real-time views into their property, which increases transparency.

JLL Spark was formed to ensure that JLL and their customers get assistance from technology by creating products and making tactical acquisitions. Also, it complements JLL’s business and helps it to perform better than its peers.

Per Mihir Shah, co-CEO at JLL Spark, “Optimizing a real estate portfolio can involve tedious manual effort, which is why many investors see suboptimal returns." He further added, "We chose Stessa as our first acquisition because its innovative product fills a gap in the market for small-to-medium investors."

Shares of this Zacks Rank #1 (Strong Buy) stock have surged 57.5% over the past year, widely outperforming the industry’s growth of 7.3%.

Other Stocks to Consider

Investors interested in the real estate industry can also consider other top-ranked stocks like HFF, Inc. (NYSE:HF) , The RMR Group Inc. (NASDAQ:RMR) and CBRE Group (NYSE:CBRE), Inc. (BK:CBG) . While HFF and RMR sport a Zacks Rank of 1, CBRE Group carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

HFF’s earnings per share estimates for 2018 have been revised 35.8% upward to $2.88 over the past two months. The stock has gained 76.1% during the past 12 months.

RMR Group’s earnings per share estimates for the current year have inched up 84.2% to $6.08 in two months’ time. Its shares have gained 40.7% over the past 12 months.

CBRE Group’s Zacks Consensus Estimate for 2018 earnings per share has been revised 9.3% upward to $3.06 over the past two months. Its share price has risen 34.4% in 12 months’ time.

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