Colony Financial Inc. (CLNY) Coverage Initiated by Analysts at Wedbush
Wedbush assumed coverage on shares of Colony Financial Inc. (NYSE:CLNY) in a research report sent to investors on Wednesday morning. The firm issued an outperform rating and a $26.00 target price on the stock.
Separately, Zacks Investment Research downgraded Colony Financial from a hold rating to a strong sell rating in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Colony Financial has a consensus rating of Buy and a consensus price target of $24.20.
Shares of Colony Financial (NYSE:CLNY) traded down 0.16% during trading on Wednesday, reaching $18.18. The company’s stock had a trading volume of 322,551 shares. The firm has a market cap of $2.07 billion, a PE ratio of 17.62 and a beta of 0.83. Colony Financial has a 12 month low of $14.73 and a 12 month high of $22.18. The company’s 50 day moving average price is $18.21 and its 200 day moving average price is $17.50.
Colony Financial (NYSE:CLNY) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.44 by $0.23. Colony Financial had a return on equity of 3.09% and a net margin of 16.89%. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Colony Financial will post $1.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.79%. The ex-dividend date of this dividend is Wednesday, September 28th. Colony Financial’s payout ratio is 166.67%.
Several hedge funds have recently modified their holdings of the stock. Connable Office Inc. increased its stake in shares of Colony Financial by 7.8% in the first quarter. Connable Office Inc. now owns 11,030 shares of the company’s stock worth $185,000 after buying an additional 795 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Colony Financial during the second quarter worth approximately $173,000. Pitcairn Co. increased its stake in shares of Colony Financial by 9.0% in the second quarter. Pitcairn Co. now owns 12,044 shares of the company’s stock worth $184,000 after buying an additional 993 shares during the last quarter. Amalgamated Bank increased its stake in shares of Colony Financial by 2.5% in the second quarter. Amalgamated Bank now owns 12,284 shares of the company’s stock worth $222,000 after buying an additional 299 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Colony Financial by 329.0% in the first quarter. BlackRock Inc. now owns 12,993 shares of the company’s stock worth $218,000 after buying an additional 9,964 shares during the last quarter. 96.58% of the stock is owned by institutional investors.
Colony Financial Company Profile
Colony Capital, Inc, formerly Colony Financial, Inc, is a global real estate and investment management company. The Company operates through five segments: Real Estate Equity, including Light industrial real estate assets and operating platform; Single-family residential rentals through an investment in Colony Starwood Homes and Other real estate equity investments; Real Estate Debt, which includes loan originations and acquisitions, and Investment Management, which includes investment management of the Company-sponsored funds and other investment vehicles.
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