Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East, and Africa; and Asia Pacific segments. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and self-performed facilities services, which include janitorial, maintenance, critical environment management, landscaping, and office services. The company also provides owner representation and tenant representation leasing services; capital market services, such as investment sales and equity, and debt and structured financing for real estate purchase and sales transactions; and appraisal management, investment management, valuation advisory, portfolio advisory, diligence advisory, dispute analysis and litigation support, financial reporting, and property and/or portfolio valuation services on real estate debt and equity decisions. Cushman & Wakefield has a strategic partnership with Vanke Service. It serves real estate owners and occupiers, such as tenants, investors, and multi-national corporations. Cushman & Wakefield plc was founded in 1784 and is headquartered in Chicago, Illinois.
IPO Year: 2018
Exchange: NYSE
Website: cushmanwakefield.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/10/2024 | $13.00 | Buy | Jefferies |
| 4/9/2024 | Outperform → Peer Perform | Wolfe Research | |
| 4/3/2024 | $13.00 | Strong Buy → Outperform | Raymond James |
| 12/8/2023 | $12.00 | Peer Perform → Outperform | Wolfe Research |
| 4/17/2023 | $19.00 → $10.00 | Buy → Neutral | UBS |
| 4/10/2023 | $15.50 → $11.00 | Buy → Neutral | Goldman |
| 2/1/2023 | Outperform → Peer Perform | Wolfe Research | |
| 4/5/2022 | $25.00 | Buy | Goldman |
| 3/10/2022 | $44.00 → $28.00 | Outperform | Wolfe Research |
| 3/3/2022 | $23.75 → $25.00 | Overweight | Morgan Stanley |
Leading real estate services firm also recognized as a Top 10 Military Spouse Employer Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, has ranked fifth in the Top Ten 2025 Military Friendly® Employers with revenue over $5 billion for its meaningful efforts to recruit, retain and develop veteran talent in the U.S. The firm has now been recognized as a Military Friendly® Top 10 Employer for three consecutive years, and a Military Friendly® Employer for seven consecutive years. The firm was also named a Military Friendly® Spouse Employer, ranking eighth for 2025, recognizing the firm's commitment to helping military spouse employees have fulfilling careers. This i
Strong global leasing revenue growth of 13% Net cash flow from operations and free cash flow both improved by more than $140 million year-to-date vs. 2023 Fully repaid term loan due in 2025 Cushman & Wakefield (NYSE:CWK) today reported financial results for the third quarter of 2024. "This quarter marked an important turning point. We reported the highest quarter of global Leasing revenue growth and the first quarter of Americas Capital markets revenue growth since the second quarter of 2022. We also continued to generate strong free cash flow which facilitated the recent full repayment of our term loan due in 2025 well ahead of schedule," said Michelle MacKay, Chief Executive Officer of
Cushman & Wakefield (NYSE:CWK) announced that it has successfully completed a repricing of approximately $1.0 billion of its Term Loan issued in April 2024 due 2030 ("Term Loan"). The repricing reduces the applicable interest rate on the Term Loan by 50 basis points from Term SOFR plus 3.75% to Term SOFR plus 3.25%. There are no changes to the maturity of the Term Loan following this repricing and all other terms are substantially unchanged. Additionally, on October 1, 2024, the Company elected to prepay the remaining $48 million of its term loan due 2025. Combined with the Company's August 2024 prepayment of $50 million of its term loan due 2025, the October payment brings the aggregate ye
Cushman & Wakefield (NYSE:CWK) will release its third quarter 2024 financial results after the close of trading at 4:05 p.m. ET on Monday, November 4, 2024. Management will host a conference call following the release at 5:00 p.m. ET on Monday, November 4, 2024, to discuss the financial results. The conference call can be accessed as follows: Dial in to 1-844-825-9789 (domestic) or 1-412-317-5180 (international), or click here (link will be activated 15 minutes prior to the earnings call) and enter passcode 3755792. Live webcast can be accessed through Cushman & Wakefield's IR website at http://ir.cushmanwakefield.com An audio replay of the conference call will be available approximat
Cushman & Wakefield releases Americas Data Center Update Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, has released its latest research report on data center markets, showing that power and component lead times continue to slow delivery of new supply. The vacancy rate in the Americas has fallen to 3%, with over 80% of deliveries pre-leased in major markets, pushing lease rates higher. Demand for artificial intelligence (AI) and cloud data centers surged in the first half of 2024, in both established and emerging markets. Absorption is poised to surpass the record levels set in 2023. Power availability remains a critical concern, prompting developers to explor
Global commercial real estate services firm joins the list of thousands of brokerage firms around the world choosing the global leader in CRE information, analytics and news to best serve their brokers and clients CoStar Group (NASDAQ:CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, today announced an agreement with Cushman & Wakefield, one of the world's largest commercial real estate services firms, for its services in Canada. Cushman & Wakefield has chosen CoStar to be its primary commercial real estate information provider in Canada – connecting CRE professionals with up to date, verified information on properties across m
The first-of-its-kind study examines 15 U.S. cities to identify their current real estate portfolio and how that compares to the optimal product mix for thriving in the future Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, today released Reimagining Cities: Disrupting the Urban Doom Loop—an in-depth research report that puts 15 U.S. cities under the microscope to identify the real estate portfolios cities currently have versus what they need, given how much the economy has changed post-pandemic. In doing so, a few key findings emerge. Cities, particularly economically important, walkable urban places near the core, violated portfolio theory in real estate mar
SPOKANE, Wash., Sept. 10, 2024 (GLOBE NEWSWIRE) -- Cushman & Wakefield and Greystone jointly announced the firms have arranged and provided $33 million in construction financing for the development of Kōz on West 4th Ave, a 210-unit, six-story multifamily apartment complex coming to downtown Spokane, Washington. A partnership comprising an affiliate of Kōz Development, LLC and Catalyst Opportunity Funds (Catalyst) recently broke ground on the project in mid-August, with a projected lease-up date of fall 2026. Kōz Development is a Washington-based private real estate development and management firm focused on delivering affordable, high-quality multifamily residential properties targetin
Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, today released its 2023 Sustainability Report. The report demonstrates the firm's global impact and performance across key sustainability areas during 2023, and progress on future targets that will help shape a more sustainable, inclusive future for the firm's people, clients, planet and communities. Cushman & Wakefield views sustainability as a key priority and works to advance sustainability within its operations and for its clients around the world. The firm continuously delivers on its commitment to embed sustainability across their service offerings to help clients achieve their ambitious goals, strengthen th
Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, was recently recognized as one of America's Greatest Workplaces for Parents and Families 2024 by Newsweek and Plant-A Insights Group, receiving a top score with a five-star rating. "We are honored to be named among America's Greatest Workplaces for Parents and Families. This recognition reflects our commitment to creating a culture of inclusion, flexibility and support for our working parents and caregivers," said Holly Tyson, Cushman & Wakefield's Chief People Officer. "We believe that when our people have a supportive and family-friendly workplace, they can do their best work and make a positive impact on the bu
Strong global leasing revenue growth of 13% Net cash flow from operations and free cash flow both improved by more than $140 million year-to-date vs. 2023 Fully repaid term loan due in 2025 Cushman & Wakefield (NYSE:CWK) today reported financial results for the third quarter of 2024. "This quarter marked an important turning point. We reported the highest quarter of global Leasing revenue growth and the first quarter of Americas Capital markets revenue growth since the second quarter of 2022. We also continued to generate strong free cash flow which facilitated the recent full repayment of our term loan due in 2025 well ahead of schedule," said Michelle MacKay, Chief Executive Officer of
Cushman & Wakefield (NYSE:CWK) will release its third quarter 2024 financial results after the close of trading at 4:05 p.m. ET on Monday, November 4, 2024. Management will host a conference call following the release at 5:00 p.m. ET on Monday, November 4, 2024, to discuss the financial results. The conference call can be accessed as follows: Dial in to 1-844-825-9789 (domestic) or 1-412-317-5180 (international), or click here (link will be activated 15 minutes prior to the earnings call) and enter passcode 3755792. Live webcast can be accessed through Cushman & Wakefield's IR website at http://ir.cushmanwakefield.com An audio replay of the conference call will be available approximat
The first-of-its-kind study examines 15 U.S. cities to identify their current real estate portfolio and how that compares to the optimal product mix for thriving in the future Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, today released Reimagining Cities: Disrupting the Urban Doom Loop—an in-depth research report that puts 15 U.S. cities under the microscope to identify the real estate portfolios cities currently have versus what they need, given how much the economy has changed post-pandemic. In doing so, a few key findings emerge. Cities, particularly economically important, walkable urban places near the core, violated portfolio theory in real estate mar
Third consecutive quarter of global leasing growth Net cash flow from operations and free cash flow both improved by more than $130 million year-to-date vs. 2023 Announces sale of small non-core business to accelerate strategic growth investments Cushman & Wakefield (NYSE:CWK) today reported financial results for the second quarter of 2024. "Our solid second quarter results, highlighted by our third consecutive quarter of leasing revenue growth and a meaningful improvement in free cash flow, are evidence of our execution against our strategic priorities," said Michelle MacKay, Chief Executive Officer of Cushman & Wakefield. "We are confident in our position and energized about the incre
Cushman & Wakefield (NYSE:CWK) will release its second quarter 2024 financial results after the close of trading at 4:05 p.m. ET on Monday, July 29, 2024. Management will host a conference call following the release at 5:00 p.m. ET on Monday, July 29, 2024, to discuss the financial results. The conference call can be accessed as follows: Dial in to 1-844-825-9789 (domestic) or 1-412-317-5180 (international), or click here (link will be activated 15 minutes prior to the earnings call) and enter passcode 3202691. Live webcast can be accessed through Cushman & Wakefield's IR website at http://ir.cushmanwakefield.com An audio replay of the conference call will be available approximatel
Cushman & Wakefield (NYSE:CWK) today reported financial results for the first quarter of 2024. Effective January 1, 2024, the Property, facilities and project management service line was renamed to Services. The change was to the name only and had no impact on the composition of the Company's service lines or its historical results. First Quarter Results: Revenue of $2.2 billion for the first quarter of 2024 decreased 3% from the first quarter of 2023. Service line fee revenue was flat compared to the first quarter of 2023. Strong Leasing growth of 5% was driven by broad strength across segments, led by EMEA. Valuation and other grew 1%, driven by the Americas and EMEA. Servi
Cushman & Wakefield (NYSE:CWK) will release its first quarter 2024 financial results after the close of trading at 4:05 p.m. ET on Monday, April 29, 2024. Management will host a conference call following the release at 5:00 p.m. ET on Monday, April 29, 2024, to discuss the financial results. The conference call can be accessed as follows: Dial in to 1-844-825-9789 (domestic) or 1-412-317-5180 (international), or click here (link will be available 15 minutes prior to the earnings call) and enter passcode 3757692. Live webcast can be accessed through Cushman & Wakefield's IR website at http://ir.cushmanwakefield.com An audio replay of the conference call will be available approximate
Cushman & Wakefield (NYSE:CWK) today reported financial results for the fourth quarter and full year of 2023: Fourth Quarter Results: Revenue of $2.6 billion and service line fee revenue of $1.8 billion for the fourth quarter of 2023 decreased 4% and 2%, respectively, from the fourth quarter of 2022. Leasing increased 5%, with growth in all three geographic segments. Property, facilities and project management increased 2%, with strength in property management and facilities services. Capital markets and Valuation and other declined 31% and 3%, respectively. Net income and diluted earnings per share for the fourth quarter of 2023 were $69.8 million and $0.30, respectively
Cushman & Wakefield (NYSE:CWK) will release its fourth quarter and full year 2023 financial results after the close of trading at 4:05 p.m. ET on Tuesday, February 20, 2024. Management will host a conference call following the release at 5:00 p.m. ET on Tuesday, February 20, 2024, to discuss the financial results. The conference call can be accessed as follows: Dial in to 1-844-825-9789 (domestic) or 1-412-317-5180 (international), or click here (link will be available 15 minutes prior to the earnings call) and enter passcode 7288485. Live webcast can be accessed through Cushman & Wakefield's IR website at http://ir.cushmanwakefield.com An audio replay of the conference call will b
Timely Disposition to Harvest Gains and Redeploy Capital CHICAGO, Dec. 6, 2023 /PRNewswire/ -- JLL Income Property Trust, an institutionally-managed daily NAV REIT (NASDAQ:ZIPTAX, ZIPTMX, ZIPIAX, ZIPIMX))) with approximately $7 billion in portfolio equity and debt investments, announced the sale of an apartment community in downtown Charlotte, North Carolina at an attractive premium to its initial acquisition price when it was acquired in 2019. Presley Uptown, a 230-unit multifamily property situated in the heart of Charlotte's central business district, provides residents access to the city's top lifestyle amenities and walkability to a rapidly growing downtown employment base. JLL Income
Jefferies initiated coverage of Cushman & Wakefield with a rating of Buy and set a new price target of $13.00
Wolfe Research downgraded Cushman & Wakefield from Outperform to Peer Perform
Raymond James downgraded Cushman & Wakefield from Strong Buy to Outperform and set a new price target of $13.00
Wolfe Research upgraded Cushman & Wakefield from Peer Perform to Outperform and set a new price target of $12.00
UBS downgraded Cushman & Wakefield from Buy to Neutral and set a new price target of $10.00 from $19.00 previously
Goldman downgraded Cushman & Wakefield from Buy to Neutral and set a new price target of $11.00 from $15.50 previously
Wolfe Research downgraded Cushman & Wakefield from Outperform to Peer Perform
Goldman initiated coverage of Cushman & Wakefield with a rating of Buy and set a new price target of $25.00
Wolfe Research reiterated coverage of Cushman & Wakefield with a rating of Outperform and set a new price target of $28.00 from $44.00 previously
Morgan Stanley reiterated coverage of Cushman & Wakefield with a rating of Overweight and set a new price target of $25.00 from $23.75 previously
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The delinquency rate for U.S. office loans rose in June as vacancies grew due to the post-pandemic work-from-home trend and persistently high interest rates, according to a report from Fitch Ratings. The rate of delinquencies, or late payments, on loans behind commercial mortgage-backed securities (CMBS) rose to 2.45% in June from 2.42% in May, according to the report released on Friday. The volume of 30-day delinquencies increased to $1.92 billion from $1.86 billion over the same period. The volume of 30-day delinquencies increased to $1.92 billion in June from $1.86 billion in May, increasing the 30-day delinquency rate to 0.35% in June from 0.34% in May. Office loans represented the
JP Morgan analyst Anthony Paolone maintains Cushman & Wakefield (NYSE:CWK) with a Neutral and raises the price target from $11 to $12.
Jefferies analyst Peter Abramowitz initiates coverage on Cushman & Wakefield (NYSE:CWK) with a Buy rating and announces Price Target of $13.
Wolfe Research analyst Andrew Rosivach downgrades Cushman & Wakefield (NYSE:CWK) from Outperform to Peer Perform.
Wolfe Research analyst Andrew Rosivach downgrades Cushman & Wakefield (NYSE:CWK) from Outperform to Peer Perform.
New initiative is convening leading companies and nonprofits with support from Google's Community Grants Fund
Raymond James analyst Patrick O'Shaughnessy downgrades Cushman & Wakefield (NYSE:CWK) from Strong Buy to Outperform and maintains $13 price target.
Cushman & Wakefield (NYSE:CWK) reported its Q4 earnings results on Tuesday, February 20, 2024 at 04:05 PM. Here's what investors need to know about the announcement. Earnings Cushman & Wakefield beat estimated earnings by 12.5%, reporting an EPS of $0.45 versus an estimate of $0.4. Revenue was down $95.00 million from the same period last year. Past Earnings Performance Last quarter the company missed on EPS by $0.02 which was followed by a 8.7% increase in the share price the next day. Here's a look at Cushman & Wakefield's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.23 0.21 0.20 0.45 EPS Actual 0.21 0.22 -0.04 0.46 Revenue Estimate 1.65B 2.35B 1.75B
Bukovac Joins the Firm's Global Occupier Services Leadership Team Cushman & Wakefield (NYSE:CWK) announced today that the real estate services firm has hired David Bukovac as Global Head of Integrated Facilities Management (IFM) on the firm's Global Occupier Services (GOS) Leadership team. In his role, Bukovac will focus on providing a seamless offering of services to the firm's facilities management clients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240528252358/en/David Bukovac (Photo: Business Wire) "We are thrilled to welcome David to our team," said Aubrey Waddell, Chief Executive, GOS. "His extensive leadership expe
Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, today announced Luke Herbert has joined the firm as Senior Vice President, Global Treasurer. Herbert will be based in New York City, reporting to the firm's Chief Financial Officer, Neil Johnston. "I am thrilled to welcome Luke to Cushman & Wakefield as our new Global Treasurer. Luke brings a wealth of experience to the role, and I am confident his expertise will be instrumental in driving our financial strategy forward and ensuring our firm's continued success," said Cushman & Wakefield CFO, Neil Johnston. Herbert joins Cushman & Wakefield from GXO Logistics, where he served as Vice President, Assistant Treasur
Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, is pleased to announce the appointment of Jessica Francisco as the company's first chief sustainability officer (CSO). In this new role, Francisco will report to the company's chief investment & strategy officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240404654738/en/Jessica Francisco, Cushman & Wakefield Chief Sustainability Officer (Photo: Business Wire) "This new CSO role reflects the firm's commitment to advancing sustainability not only for our own operations but also through the strategic advice and services we provide our clients," said Cu
Gill will Oversee Engineering & Maintenance Operations for the New England Region Cushman & Wakefield announced today that C&W Services has hired Michael Gill as Senior Director, Client Services, New England. Gill will oversee all Engineering & Maintenance operations in New England, a geographic stronghold for C&W Services, and take a critical leadership role within the region. He will spearhead client partnerships across key accounts including BXP, which recently renewed services for another five years with C&W Services. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240319568095/en/Michael Gill (Photo: Business Wire) "We are
Cushman & Wakefield (NYSE:CWK) today announced the appointments of Jennifer McPeek and Raj Vennam to its Board of Directors, effective March 18, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240318095052/en/Jennifer McPeek appointed to the Board of Directors of Cushman & Wakefield (Photo: Business Wire) McPeek brings more than 20 years of executive experience in the financial services industry. She previously served as Chief Financial Officer of Russell Investments, and prior to that, McPeek held various roles at Janus Henderson Investors plc, including the roles of Chief Operating & Strategy Officer and Chief Financial O
NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) today named Cushman & Wakefield as the exclusive leasing agent of PENN 2, its 1.8 million square-foot PENN DISTRICT office tower. Vornado's PENN 2Seventh Avenue between 31st and 33rd Streets The Cushman & Wakefield agency team will be led by Bruce Mosler and Josh Kuriloff, who have recently been responsible for more than 7.7 million square feet in office leasing across Midtown Manhattan's burgeoning West Side. PENN 2 has been completely transformed into a world-class office environment geared toward today's leading companies. The $750 million full-building redevelopment includes a highly efficient modern g
Cushman & Wakefield (NYSE:CWK) today announced Michelle Felman has been appointed to its Board of Directors, effective November 2, 2023. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231102146055/en/Michelle Felman. (Photo: Business Wire) Felman is an accomplished executive with more than 30 years of experience in the real estate and investment industries. Most recently she served as Executive Vice President, Co-Head of Acquisitions and Capital Markets at Vornado Realty Trust, a fully integrated equity real estate investment trust. Previously, she was Managing Director for Global Business Development and Portfolio Acquisitions
Andrew McDonald Appointed to Expanded Role of Global President and COO Transition Culminates a Multi-Year Succession Planning Process Cushman & Wakefield (NYSE:CWK) announced today that the Board of Directors has accepted John Forrester's intent to retire from his position as Chief Executive Officer (CEO) and member of the Board of Directors, effective June 30, 2023, following 35 years of service to the company. As part of the Company's long-standing succession plan, Cushman & Wakefield's Board of Directors appointed Michelle MacKay, currently President and Chief Operating Officer (COO), to assume the role of CEO as of July 1, 2023. Mr. Forrester will remain employed as a strategic advi
Cushman & Wakefield (NYSE:CWK), a leading global commercial real estate services firm, has appointed Noelle Perkins as Executive Vice President, General Counsel & Corporate Secretary, effective July 1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230413005580/en/Noelle Perkins (Photo: Business Wire) In this role, Perkins will provide strategic advice, guidance, oversight and support to the firm's global business and operations. She will lead Cushman & Wakefield's global legal function, playing a critical role in implementing governance and risk management practices for the firm. "We are very pleased to welcome Noelle to Cush
Cushman & Wakefield (NYSE:CWK), a leading global real estate services firm, has appointed Megan McGrath as its new Senior Vice President, Investor Relations (IR). In this role, McGrath will lead Cushman & Wakefield's IR function, providing strategic insight to the firm's leadership team, engaging existing and potential investors and fostering working relationships with the equity research analyst community. "We are pleased to have Megan on board. With her strong experience in financial communications, corporate positioning and fostering investor relationships, I am confident she will do excellent work representing our firm in the investor community and communicating our value proposition