shares of commercial real estate brokers have underperformed the real estate investment trust reit and the broader stock market by a wide margin this year and they could remain choppy in the coming months but jpmorgan analyst anthony paolone said a lot of the damage appears to be done shares of cbre group inc cbre have dropped 297 year to date cushman  wakefield plc cwk have slumped 309 and jones lang lasalle inc jll have tumbled 344 while the spdr real estate select sector etf xlre has declined 197 and the sp 500 spx has lost 183 paolone said the cre brokers have been hurt as rising interest rates have put damped capital market activity especially selling cre assets just as yearoveryear financial comparisons are getting increasingly difficult and amid increasing signs of retrading of deals however he said this years stock declines are already pretty well explained by those concerns so for investors who can stomach some volatility near term he said the cre services sector is attractive with very strong balance sheets and should reward investors we still believe that the market share opportunity and increased diversification of the businesses lines for the largest firms in the sector are secular tailwinds that should drive growth paolone wrote in a note to clients