NorthStar Asset Management Group, Inc. (NYSE:CLNS) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of NorthStar Asset Management Group, Inc. (NYSE:CLNS) from a sell rating to a hold rating in a report published on Wednesday, July 12th.
According to Zacks, “Colony NorthStar, Inc. is a real estate and investment management firm. It creates long-term value through investing in real estate and real estate-related assets. Colony NorthStar Inc., formerly known as Northstar Asset management Group, is based in New York. “
CLNS has been the topic of a number of other reports. JMP Securities initiated coverage on NorthStar Asset Management Group in a report on Friday, March 31st. They set a market perform rating on the stock. Wedbush reiterated an outperform rating and issued a $17.25 price target (down from $26.00) on shares of NorthStar Asset Management Group in a research report on Friday, April 21st. Finally, FBR & Co restated a buy rating and set a $16.00 target price on shares of NorthStar Asset Management Group in a research report on Monday, May 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $17.05.
Shares of NorthStar Asset Management Group (NYSE CLNS) opened at 14.56 on Wednesday. The stock has a 50 day moving average of $14.42 and a 200 day moving average of $13.82. NorthStar Asset Management Group has a 52 week low of $11.63 and a 52 week high of $16.08. The firm has a market cap of $8.03 billion, a P/E ratio of 72.44 and a beta of 1.54.
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The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a $0.27 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.08 annualized dividend and a dividend yield of 7.42%. This is an increase from NorthStar Asset Management Group’s previous quarterly dividend of $0.24. NorthStar Asset Management Group’s dividend payout ratio is presently 900.08%.
A number of hedge funds have recently modified their holdings of CLNS. Tudor Investment Corp Et Al acquired a new stake in shares of NorthStar Asset Management Group during the fourth quarter valued at approximately $174,000. Pensionfund Sabic bought a new position in shares of NorthStar Asset Management Group during the first quarter worth approximately $468,000. Pensionfund DSM Netherlands bought a new position in shares of NorthStar Asset Management Group during the first quarter worth approximately $1,306,000. Manning & Napier Advisors LLC bought a new position in shares of NorthStar Asset Management Group during the first quarter worth approximately $6,369,000. Finally, Raymond James Trust N.A. bought a new position in shares of NorthStar Asset Management Group during the first quarter worth approximately $259,000. Institutional investors and hedge funds own 83.35% of the company’s stock.
NorthStar Asset Management Group Company Profile
Colony NorthStar, Inc is a diversified equity real estate investment trust (REIT). The Company combines a portfolio of real assets across the world, which are managed with a global real estate investment manager. The Company has property holdings in the healthcare, industrial and hospitality sectors, opportunistic equity and debt investments, and an embedded institutional and retail investment management business.
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