Colliers International (CIGI TSX) Most recent purchase in March 2022 at $165
Offering a great way to play the global commercial real estate space, the company is involved in leasing, advisory and real estate transactions in 60+ countries around the world.
They service all major asset classes – office, retail, industrial and multi-family — so you get great exposure to all things real estate in a diversified company that has demonstrated a tremendous track record as a long-term compounding investment.
The company has consistently delivered double digit earnings growth over a long period of time, and I expect that to continue. Management is moving more towards a recurring revenue model, in the investment management and asset management divisions, which should result in better profitability over time.
Stock trades at 18x P/E, they generate a huge amount of free cash flow and have a very clean balance sheet to allow for M&A when the time and opportunity is right. The stock is off about 20 per cent in 2022, which represents a great opportunity to buy.
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