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    Jimmy Shan

    Director and Senior Equity Analyst at RBC Capital Markets

    Jimmy Shan is a Director and Senior Equity Analyst at RBC Capital Markets, specializing in coverage of real estate services and biotechnology with a track record of high-performing investment recommendations. He covers companies including Colliers International Group, Tourmaline Bio, and Artis Real Estate Investment Trust, and has consistently delivered a success rate of over 68% with an average return of approximately 10.5% per recommendation, ranking him among the top Wall Street analysts on platforms like TipRanks. Shan has been active at RBC Capital Markets since at least 2017, providing in-depth industry research and previously holding analyst roles within the financial sector. He holds professional securities licenses and registrations, ensuring regulatory compliance as an equity analyst and financial advisor.

    Jimmy Shan's questions to Colliers International Group (CIGI) leadership

    Jimmy Shan's questions to Colliers International Group (CIGI) leadership • Q2 2025

    Question

    Jimmy Shan asked about the acquisition multiple for RoundShield, the outlook for IM versus engineering acquisitions, and whether the company's large non-U.S. industrial leasing business contributed to recent weakness.

    Answer

    CFO Christian Mayer disclosed the RoundShield multiple was in the "low teens" and affirmed a balanced capital allocation approach across all segments. CEO Jay Hennick confirmed they are always open to acquisitions. Regarding leasing, Christian Mayer acknowledged that the company's significant exposure to markets like Canada and Australia was a potential contributing factor to the performance.

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    Jimmy Shan's questions to Colliers International Group (CIGI) leadership • Q1 2025

    Question

    Jimmy Shan asked for clarification on the strong Q1 Investment Management margin given the full-year guidance for flat to modest declines. He also requested an update on the progress of back-office and fundraising integration within the segment.

    Answer

    CFO Christian Mayer explained that the Q1 margin increase was a factor of lower incentive compensation, partially offset by higher headcount, and reiterated the full-year guidance for flat to slightly down margins due to continued investment. CEO Jay Hennick added that the company is focused on leveraging scale and talent to deliver performance and new ideas, with more updates to come on this one-step-at-a-time integration.

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    Jimmy Shan's questions to Colliers International Group (CIGI) leadership • Q4 2024

    Question

    Jimmy Shan sought clarification on whether the integration of the Investment Management platform would make it easier to acquire other asset managers. He also asked if the current investments include hiring for new products and what the $5 billion to $8 billion fundraising target implies for the 2025 guidance, requesting details on the new funds being launched.

    Answer

    CEO Jay Hennick confirmed the integration would facilitate future M&A and that they are investing in personnel for new products, like Harrison Street's data center fund. CFO Christian Mayer affirmed the $5B-$8B fundraising target is what underpins the 2025 financial projections. Mr. Hennick added that there are five new vintage funds being launched, alongside other new products from platforms like Basalt and Rockwood.

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