The real estate and property management industries are extremely large in terms of revenue and business volume. The sector tends to be cyclical and heavily affected by recession. The entire industry saw a significant low during the mortgage crisis that began in 2007 until the recession of 2009. Many companies were unable to continue operations, leaving more opportunities for expansion and acquisition to those who survived. First Service Corporation is one such company that has survived. Since the recession, consumer spending has continued to grow as the U.S. economy recovers, putting funds back into the market. Globally, it is one of the best-known companies in the real estate and property management industry. They have grown to manage more than 2.5 billion square feet of properties worldwide and reported record numbers for the quarter and year ending December 31, 2013. As of the close of fiscal 2013, the company's earnings per share increased from $1.64 in the previous year to now $2.15. Their most recent return on equity report puts them at 11.04% and their beta stands at 1.59, almost 60% more volatile than the market. Their revenues for 2013 were $2.34 billion, up 12% from the previous year, while their business costs increased from $11.6 million to $17.3 million. dollars. This increase in costs was almost entirely attributed to the recent strengthening of their performance-based compensation plan, put in place to try to give their employees more incentive to continue striving for the company's success. FSRV can be broken down into three service platforms: Colliers International, FirstService Residential and FirstService Brands. Colliers International is their mall...... middle of paper ......es, which really adds up considering they manage 2.5 billion square feet of properties. FirstService Brands reported revenue of $140.3 million for 2013, up 12 percent from the previous year. FSRV, the symbol of First Service Corporation, recently traded at $48.35 with a market cap of $1.74 billion. My course of action would not be to invest or sell, but to hold if I was already a shareholder. For me, as a student with no income until the summer, the volatility of their industry is too risky to invest. I cannot afford the most negative consequences, even if the positive alternative would be of the same degree. If I were a shareholder I would hold on, their recovery from the recession has been promising and the recent record high for the year and quarter ending December 31, 2013 gives me an intuitive reason to believe that the future will bring better days for the price of their shares..