On May 22, 2023, Burgundy Asset Management Ltd. announced a decrease of 3.1% in its position regarding Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI). The announcement was made through the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). It stated that Burgundy Asset Management owned 301,052 shares of Colliers International Group’s stock after selling 9,678 shares during the period with a worth of $27,647,000 at the end of the quarter.
Colliers International Group, Inc specializes in providing commercial real estate services to corporate and institutional clients, including outsourcing and advisory services, lease brokerage, and sales brokerage. It operates through different segments: Americas, EMEA, Asia Pacific, Investment Management, and Corporate. With its outstanding performance in these segments throughout the years operating in different regions across the globe have prominently placed it among some of today’s leading multinational firms dealing with real estate activities.
Apart from announcements concerning Burgundy Asset Management Ltd.’s position regarding Colliers International Group Inc., recently declared semi-annual dividend payments to shareholders. The dividend payment is scheduled for Friday, July 14th. Shareholders who are eligible to receive this payment will be those on record on Friday June 30th with an amount of $0.15 per share representing a yield of 0.3%. The ex-dividend date has been set for Thursday June 29th which means that shares bought after this date would not qualify for the dividends payments.
Colliers’ substantial domain knowledge about emerging trends propelled it forward despite unforeseen challenges over time resulting in impressive returns to investors such as Burgundy Asset Management Ltd., who remain confident with their investments because of such factors as monetary policies or progressive business strategies implemented by Colliers International Group.Currently,the dividend payout ratio (DPR) is stood at 30.61%, reflecting the growth of the firm in terms of its position on the stock exchange.
In summary, Burgundy Asset Management Ltd.’s decrease in position should not be taken as an indication that Colliers International Group Inc. is not performing well; on the contrary, given Colliers’ track record, the fact they recently announced dividend payments and with plans for future investment opportunities, both existing and potential investors should remain positive about their investments.
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Major Investors Boost Stakes in Colliers International, But Analysts Offer Mixed Views on Stock Performance
Major investors have increased their stakes in Colliers International Group, pushing up the price of its stock. Blair William & Co. IL now has 15,273 shares in Colliers worth $1.4m after acquiring an additional 2,412 shares, whilst MQS Management now owns 4,106 shares valued at $378k after buying an extra 614 shares during the period. Other large investors such as CI Investments and William Blair Investment Management have also boosted holdings. Overall, institutional investors and hedge funds now own 65.89% of the company’s stock.
Despite recent gains from investors positions, however, shares of Colliers only rose by $0.06 to finish Friday’s trading on $95.02 where they were met with a limited share volume. Analysts had varying takes on this performance with Stock News rating it a “hold”, whilst Goldman Sachs attributed more positive results suggesting current market prices undervalued the actual worth of Colliers stock.
While the price movement has been small lately ($95 – 100), Collier’s range in recent years has swung between $84-$133 so it still retains significant investment appeal due to its overall market cap of $4bn+. With these high figures and CIGI standing as one of the largest commercial real estate firms globally; experts anticipate incremental or significant changes could occur that could spark interest among would-be buyers into jumping on board either in the near-term or for future long-term success and growth opportunities.
