Articles from CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics, and 3D digital twin technology in the property markets, today announced that Nana Banerjee has been appointed as a new independent member of the Company’s Board of Directors (the “Board”), effective immediately. With this appointment, the Board expands to nine directors, eight of whom are independent.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2023 was $606 million, 13% over revenue of $536 million for the quarter ended June 30, 2022. Net income was $101 million in the second quarter, an increase of 20% over prior year.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the second quarter following the market close on Tuesday, July 25, 2023. Management will conduct a conference call to discuss the second quarter, as well as the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended March 31, 2023 was $584 million, an increase of 13% over revenue of $516 million for the quarter ended March 31, 2022. Net income was $87 million and net income per diluted share was $0.21 for the first quarter of 2023.

Today, Apartments.com — a CoStar Group company — published an in-depth report of multifamily rent trends for the first quarter of 2023. The negative trends in the multifamily market persisted at the start of the year.

Apartments.com, a CoStar Group brand (NASDAQ: CSGP), has launched a new multichannel marketing campaign that marks the brand’s largest shift to streaming video and social media to reach renters based on their evolving media consumption habits. For the first time ever, the 2023 campaign relies on streaming video as the largest investment of all awareness channels, rather than linear TV.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the first quarter of 2023 following the market close on Tuesday, April 25, 2023. Management will conduct a conference call to discuss the first quarter results, as well as the Company’s outlook at 5:00 PM ET that same day.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, today announced the winners of the 2023 CoStar Impact Awards.

Today, Apartments.com – a CoStar Group company – released an in-depth report of multifamily rent growth trends for February 2023 backed by analyst observations. February marks the second month in a row of positive month over month rent growth, signaling a surprisingly strong start to the year but still not enough to reverse the downward movement of annual rents.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the year ended December 31, 2022 was $2.18 billion, an increase of 12% over revenue of $1.94 billion for the full year of 2021. Revenue for the fourth quarter of 2022 was $573 million, an increase of 13% over revenue of $507 million for the fourth quarter of 2021.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, released today its 2023 Environmental, Social, and Governance Report. The report highlights the company’s commitment to making business decisions that prioritize its people, communities, and shareholders through meaningful environmental, social and governance (ESG) practices.

Today, Apartments.com – a CoStar Group company – released an in-depth report of multifamily rent growth trends for January 2023 backed by analyst observations. For the first time in five months, month over month rent data showed positive growth, with Midwestern markets like Indianapolis and Cincinnati emerging as top rent growth leaders.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the fourth quarter and full year 2022 following the market close on Tuesday, February 21, 2023. Management will conduct a conference call to discuss the fourth quarter and full year results, as well as the Company’s outlook at 5:00 PM EST that same day.

Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CGSP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today was honored as one of Inman’s Inaugural 2023 Power Players.

The Swanepoel Power 200 (SP 200), the definitive ranking of the residential real estate brokerage industry’s executives and leaders, has named Andy Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CSGP), as one of the nation’s ten most powerful and influential people in real estate for 2023.

Today, Apartments.com – a CoStar Group company – published an in-depth report of multifamily rent growth trends for Q4 2022 backed by analyst observations. Across the board, multifamily fundamentals continued to deteriorate throughout the fourth quarter with limited absorption, significant imbalances between supply and demand and ongoing economic uncertainty.

Apartments.com – a CoStar Group company – released an in-depth report of multifamily rent growth trends for November 2022 backed by analyst observations. Monthly asking rents declined for their fourth straight month with the Sunbelt, Las Vegas and Phoenix highlighting the true nature of the deteriorating rent situation.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, has been selected as a Tech 100 Honoree by Northern Virginia Technology Council (NVTC), the membership and trade association for the Northern Virginia technology community.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, has launched LoopNet, the world’s largest commercial property marketplace, in the UK market. The launch marks the creation of the world’s first international commercial real estate online marketplace, allowing tenants, brokers and investors to access properties available for sale and lease across multiple countries on a single platform.

Today, Apartments.com – a CoStar Group company – published an in-depth report of multifamily rent growth trends for October 2022 backed by analyst observations. Month over month rent decline hit a three-month streak with October’s numbers in the books, alongside continued evidence the once fastest growing markets have lost momentum and new markets are coming into play.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today broke ground on its research and technology center expansion in Richmond, Virginia. CoStar Group celebrated the milestone with a ceremony and speeches from The Honorable Glenn Youngkin, Governor, Commonwealth of Virginia; The Honorable Caren Merrick, Secretary of Commerce and Trade, Commonwealth of Virginia; The Honorable Levar Stoney, Mayor, City of Richmond; The Honorable Ellen F. Robertson, Council Vice President, Richmond City Council; Leonard Sledge, Economic Development Director, City of Richmond; and Andy Florance, Founder and Chief Executive Officer of CoStar Group.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended September 30, 2022 was $557 million, an increase of 12% over revenue of $499 million for the third quarter of 2021.

Commercial Observer has released their Power Proptech list recognizing the 30 most powerful people in commercial real estate proptech, featuring CoStar Group’s Founder and Chief Executive Officer, Andrew Florance. 2022 was a year of change in the proptech industry with a reduction in investment and the consolidation of several companies. However, as Commercial Observer’s list notes, the 30 individuals recognized in this inaugural list weathered the storm and have emerged as leaders in the industry.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today that it has acquired Fairmas Benchmarking, a leading German hospitality benchmarking product, from Fairmas GmbH.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the third quarter 2022 following the market close on Tuesday, October 25, 2022. Management will conduct a conference call to discuss the third quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

Today, Apartments.com – a CoStar Group company – released an in-depth report of multifamily rent growth trends for Q3 2022 backed by analyst observations. The report highlights the stark reversal of fortune across the multifamily market, including rent decreases in the largest markets, major slowdowns across the Sunbelt and increased unit deliveries despite wavering demand.

Andrew Florance, Founder and Chief Executive Officer of CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today was recognized with two winning nominations for Globee Awards’ 10th Annual CEO World Awards. Mr. Florance was named Globee Visionary Leader of the Year and Globee CEO of the Year (Technology).

CoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) announced today that it has priced its offering of 10,656,436 shares of its common stock at a price of $70.38 per share. Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint book-running managers for the offering. The offering is expected to close on September 20, 2022, subject to customary closing conditions. CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strategic acquisitions CoStar determines to pursue in the future, to finance the growth of its business and for working capital and other general corporate purposes.

CoStar Group, Inc. (NASDAQ: CSGP) (“CoStar”), a leading provider of online real estate marketplaces, information and analytics, announced today that in conjunction with the September 2, 2022 announcement by Standard & Poor’s (“S&P”) to include CoStar in the S&P 500 index, CoStar has commenced a public offering of $750 million of its common stock, representing approximately 9.79 million shares (based on the closing price on September 13, 2022 of $76.64). CoStar plans to market the offering primarily to S&P 500 index funds expected to have an interest in purchasing shares ahead of the date of CoStar’s inclusion in the S&P 500 index. CoStar believes the number of shares being offered represents only a limited portion of such expected index fund demand. S&P will add CoStar’s common stock to the S&P 500 index prior to the open of trading on September 19, 2022.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, announced today that the company has been selected for inclusion in the S&P 500 Index, effective prior to the opening of trading on Monday, September 19, 2022.

Today, Apartments.com – a CoStar Group company – published an in-depth report of multifamily rent growth trends for August 2022 backed by analyst observations.

Ten-X – the world's largest online commercial real estate exchange and a CoStar Group brand – today announced the top winner of its first “Battle of the Bids” competition. The grand prize winner, Mike King, a real estate broker at Seattle’s Kidder Mathews, received the $1,000,000 grand prize as well as a donation of $100,000 to a charity of his choice.

CoStar Group (NASDAQ: CSGP) today announced its participation as the lead sponsor in the fifth annual Ultimate Backpack Drive, an initiative to provide students at Richmond Public Schools with 50,000+ backpacks filled with school supplies, free of charge, to ensure students start their school year on the right foot.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, was awarded the prestigious title of Company of the Year at the 2022 Inman Innovator Awards.

Today, Apartments.com – a CoStar Group company – released an in-depth report of multifamily rent growth trends for July 2022 backed by analyst observations.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended June 30, 2022, was $536 million, an increase of 12% over revenue of $480 million for the second quarter of 2021.

Today, CoStar Group released the findings from its second quarter report on rent growth in the United States. According to the nationwide study, while demand is up 9.2% year over year, this figure is down from 11.4% at the end of the first quarter. These findings mark a continued downward trend in rent growth, with this now being the third quarter in a row of diminishing demand. The report also found that the vacancy rate is up 10 basis points, rising to 5% nationally.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the second quarter 2022 following the market close on Tuesday, July 26, 2022. Management will conduct a conference call to discuss the second quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

Today Apartments.com, the leading online rental network in the United States, announced the launch of its Listing of the Future, an innovative new approach to listing apartments. The Listing of the Future will debut at Apartmentalize 2022 in San Diego.

Today, CoStar Group is proud to announce a $5 million commitment to Management Leadership for Tomorrow (MLT), a national nonprofit dedicated to providing Black, Latinx, and Native American students with the coaching, career preparation and access to professional networks necessary to become the next generation of leaders. The donation, which will be allocated over the next five years to boost the nonprofit’s undergraduate program, follows a $1 million pledge made by CoStar Group in 2017 to support MLT’s diversity leadership programs.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, proudly announced today that The Globee® Awards, organizers of world’s premier business awards programs and business ranking lists, has named CoStar Group’s Chief Human Resources Officer Michael Desmarais as the Gold Globee ® Human Resources Professional of the Year in the Workplace Safety category. Desmarais received this prestigious recognition for his role positioning CoStar Group at the forefront of the return-to-office movement over the last year.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of commercial and residential real estate information, analytics, and online marketplaces, today announced the appointment of Cyndi Eakin as Senior Vice President of Investor Relations, effective immediately.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, proudly announced today that Corey Durant, Vice President of Research, was named to the 2022 EMPower Ethnic Minority Role Model Lists.

Andrew C. Florance, Founder and Chief Executive Officer of CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets – was named one of Washingtonian Magazine’s 2022 Tech Titans.

Researchers at CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets – today unveiled a new look at recovery trends among the commercial real estate retail market in the aftermath of the global pandemic.

Ten-X – the world’s largest online commercial real estate exchange – today unveiled the cash prize winners as round two of the company’s Battle of the Bids contest comes to a close.

CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets – today announced the expansion of the company’s corporate office footprint in Richmond, VA., with the purchase of a 5-story 117,448 SF office building in the Manchester neighborhood for $20 million. The property was vacant at the time of the sale and was formerly fully occupied by SunTrust (now Truist), which relocated to an adjacent building.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets, announced today the hire of Robert Stassen as Head of Analytics for Europe.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that LoopNet, the top online commercial real estate marketplace, experienced a record-breaking quarter for site traffic in the first quarter of 2022.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the property markets, announced today that revenue for the quarter ended March 31, 2022, was $516 million, an increase of 13% over revenue of $458 million for the first quarter of 2021.

CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets today proudly announced the appointment of David Mele as the new President of LoopNet.

In honor of Earth Day, CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets – has underscored the company’s commitment to a greener tomorrow by reflecting on a suite of environmental initiatives.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, today announced the launch of two new programs focused on fostering employee growth.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, proudly announced today that CoStar news has received the prestigious Best in Business Award for Innovation from the Society for Advancing Business Editing and Writing (SABEW).

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today the acquisition of France’s premier commercial real estate news service, Business Immo.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the first quarter 2022 following the market close on Tuesday, April 26, 2022. Management will conduct a conference call to discuss the first quarter results, as well as the Company’s outlook at 5:00 PM EDT that same day.

Ten-X – the world’s largest online commercial real estate exchange announces its Battle of the Bids Game. The eight-round game launches April 11th inviting CoStar Group customers to engage with the Ten-X platform in a unique way while having the opportunity to earn cash prizes.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets announced today the winners of its 2022 CoStar Impact Awards.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets, announced today that revenue for the year ended December 31, 2021, was $1.94 billion, an increase of 17% over revenue of $1.66 billion for the full year of 2020. Revenue for the fourth quarter of 2021, was $507 million, an increase of 14% over revenue of $444 million for the fourth quarter of 2020.

Today, CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property sectors, has published its first Sustainability Report, underscoring its commitment to building a foundation of responsible business strategies that drive value for its people, communities, and shareholders through positive environmental, social and governance (ESG) practices.

Today, CoStar Group, Inc. (NASDAQ: CSGP) announces the launch of the 2022 CoStar Impact Awards – the industry leader’s latest annual awards program – which will recognize exemplary commercial real estate projects and transactions completed in 2021 with significant influence in neighborhoods or submarkets across 11 major U.S. markets.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the fourth quarter and full year 2021 following the market close on Tuesday, February 22, 2022. Management will conduct a conference call to discuss fourth quarter and full year 2021 results as well as the Company’s outlook at 5:00 PM EST that same day.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics, specializing in multifamily and single family residential, office, industrial, retail, hospitality and land property sectors, announced today the planned expansion of its research and technology center in Richmond, Virginia. The new corporate campus is expected to bring together over 3,000 employees to collaborate on cutting-edge technologies and research in support of the real estate industry. Over the next five to ten years, the planned growth would make CoStar Group the largest technology company and one of the largest private employers in Richmond.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics, and online marketplaces, announced today that revenue for the quarter ended September 30, 2021, was $499 million, an increase of 17% over revenue of $426 million for the third quarter of 2020.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the third quarter of 2021 following the market close on Tuesday, October 26, 2021. Management will conduct a conference call to discuss third quarter results and the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of commercial real estate information, analytics and online marketplaces, announced today that it has acquired COMREAL INFO, the owner and operator of BureauxLocaux.com.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces announced today the appointment of Jay Lybik as National Director of Multifamily Analytics. The hire will elevate the company’s already powerful analytics in the U.S. multifamily sector, adding value for CoStar Group clients and the commercial real estate industry.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics, and online marketplaces, announced today that revenue for the quarter ended June 30, 2021 was $480 million, an increase of 21% over revenue of $397 million for the second quarter of 2020.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the second quarter of 2021 following the market close on Tuesday, July 27, 2021. Management will conduct a conference call to discuss second quarter results and the Company’s outlook at 5:00 PM EDT that same day.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced today that its Board of Directors has approved and declared a ten-for-one split of CoStar Group’s common stock in the form of a stock dividend in an effort to make stock ownership more accessible to employees and investors. The Board set June 17, 2021 as the record date for the stock dividend. Each stockholder of record at the close of business on the record date will receive a dividend of nine additional shares of common stock for each then-held share. The dividend shares are scheduled to be distributed after the close of trading on June 25, 2021 and to begin trading on a stock split-adjusted basis on June 28, 2021.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, issued a statement today clarifying that it is in no way associated, related or linked to Chinese firm CoStar Group Co., Ltd., a company principally engaged in the research, development, design, manufacture, processing and sales of optical parts and components.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced today that it has completed the acquisition of Homes.com, previously announced on April 14, 2021, for $156 million in cash. The Federal Trade Commission cleared the transaction to close last week.

CoStar Group, Inc. (NASDAQ:CSGP), the leading provider of commercial real estate information, analytics, and online marketplaces, announced today that revenue for the quarter ended March 31, 2021, was $458 million, an increase of 17% over revenue of $392 million for the first quarter of 2020.

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced today that it has reached a definitive agreement to acquire Homes.com, a division of Dominion Enterprises, for $156 million in cash.

CoStar Group, Inc. (NASDAQ: CSGP) will announce financial results for the first quarter of 2021 following the market close on Tuesday, April 27, 2021. Management will conduct a conference call to discuss first quarter results and the Company’s outlook at 5:00 PM EDT that same day.