Jones Lang Stock Gains 50% in 6 Months: Will it Continue to Rise?

Shares of Jones Lang LaSalle Incorporated JLL, popularly known as JLL, have gained 50% in the past six months, outperforming the industry’s upside of 21.2%.

JLL is expected to gain more from the continued strength of its resilient lines of business and favorable outsourcing trends. Its data-driven and experiential technology platform is leading to increased client engagements, which is encouraging. Strategic investments to capitalize on market consolidation bode well.

The company, carrying a Zacks Rank #3 (Hold) at present, reported third-quarter 2025 adjusted earnings per share of $4.50, which increased from the prior-year quarter’s $3.50. Results reflected a year-over-year rise in revenues. Its resilient revenue business lines continued to deliver strong growth, led by Project Management and Workplace Management. Its transaction-based businesses witnessed growth, driven by Investment Sales, Debt/Equity Advisory and Other and Leasing.

Let us decipher the possible factors behind the surge in the stock price.

JLL has a broad range of real estate products and services as well as extensive knowledge of domestic and international real estate markets, thus enabling it to operate as a single-source provider of real estate solutions. Its superior client services and strategic investment in technology and innovation are expected to help grow market share and win relationships. Strategic technology investments enable the company to navigate challenging times.

Moreover, JLL's diversified and resilient platform and cost-optimization efforts are expected to support its adjusted EBITDA. The company has increased its 2025 adjusted EBITDA guidance to a range of $1.375-$1.45 billion compared with the prior guided range of $1.30-$1.45 billion. We expect adjusted EBITDA to rise 16.4% to $1.38 billion in 2025.

JLL’s Real Estate Management Services segment is well-positioned to benefit from favorable trends in the outsourcing business. Corporations are looking for the company’s wide-ranging knowledge and the breadth of its services, including sustainability. In the post-pandemic period, the trend for organizations to outsource real estate services and seek strategic advice on reimagining their workspaces and workstyles to boost culture, attract talent and drive performance has gathered more strength.

Amid the rising trend of outsourcing real estate needs by companies, new contract wins and the expansion of services with existing clients are likely to aid JLL’s performance in the upcoming period. The company remains confident in the long-term trajectory of the Workplace Management business as its sales pipeline is strong and contract renewal rates are stable. For the Project Management business, client activity continues to be healthy, positioning the company for continued momentum into the fourth quarter of 2025. We expect a year-over-year increase of 11.3% in JLL’s Real Estate Management Services segment’s total revenues in 2025.

JLL is focused on maintaining balance sheet strength and adequate liquidity to enjoy operational flexibility. The company exited the third quarter of 2025 with $3.54 billion of corporate liquidity and a net leverage of 0.8X compared to 1.2X reported in the prior quarter. In the third quarter of 2025, the company reported net debt of $1.1 billion compared to $1.59 billion in the previous quarter. Sequential quarter reduction in net debt was driven by positive free cash flow generation in the third quarter of 2025. Hence, with a solid balance sheet, JLL is well-poised to sail through challenging times and capitalize on solid opportunities.

With the above-mentioned factors, we believe the rising trend in the stock is expected to continue in the near term.

Risks Likely to Affect JLL’s Positive Trend

Macroeconomic uncertainty, geopolitical unrest and a cautious approach are concerns for the transaction-based businesses of JLL. Competition from peers and foreign currency fluctuations add to its woes.

Stocks to Consider

Some better-ranked stocks from the real estate operations industry are Newmark Group NMRK and TPG RE Finance Trust TRTX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for NMRK’s 2025 earnings per share is pinned at $1.59, suggesting year-over-year growth of 29.3%.

The Zacks Consensus Estimate for TRTX’s ongoing year’s earnings per share stands at $1.01, indicating a 5.2% increase from the year-ago reported figure.

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This article originally published on Zacks Investment Research (zacks.com).

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