Cushman Wakefield 1Q2021

CWK reported better than expected 1Q201 EPS on Friday driven by stronger capital markets and leasing revenue, particularly industrial leasing.

1Q2021 leasing revenue declined 3.3% YoY compared to a 36% YoY decline in the prior quarter. Office leasing activity remains soft, although in line with its peers, CWK noted that property tours continue to pick up and should drive revenue acceleration in 2H2021.

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