COLLIERS INTERNATIONAL GROUP $54.56 - Toronto symbol CIG

COLLIERS INTERNATIONAL GROUP $54.56 (Toronto symbol CIG ; TSINetwork Rating: Extra Risk) (1-202-695-4200; www.colliers.com; Shares outstanding: 36.6 million; Market cap: $2.1 billion; Dividend yield: 0.2%) is one of the world’s top three commercial real estate firms, offering a range of services in the U.S., Canada, Europe, Australia, New Zealand, Asia and Latin America.

The company has 16,300 employees operating from 502 offices in 67 countries.

In the three months ended June 30, 2015, Colliers’ revenue rose 11.2%, to $409.8 million from $368.5 million a year earlier (all figures except share price and market cap in U.S. dollars). If you exclude one-time items, the company’s earnings gained 31.8%, to $0.58 a share from $0.44 a share. These results do not include FirstService.

The company continues to fuel its growth with acquisitions. Its latest purchase is South Florida-based Pointe Group Advisors, which specializes in property management and project management, as well as real estate sales and leasing.

Pointe Group employs more than 70 real estate professionals and manages more than seven million square feet of office, industrial and retail space in South Florida. Paul Gardner, who founded Pointe Group in 2003, will continue to manage the company’s day-to-day operations.

The stock needs a continued recovery in global real estate markets to keep rising. Meanwhile, it trades at a high 20.1 times the $2.07 a share the company will likely earn this year.

Colliers International Group is a hold.

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