NorthStar Asset Management Group, Inc. (CLNS) Sees Large Growth in Short Interest
NorthStar Asset Management Group, Inc. (NYSE:CLNS) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 14,379,244 shares, an increase of 34.8% from the July 31st total of 10,670,284 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 3,679,240 shares, the short-interest ratio is currently 3.9 days.
Several equities analysts have recently weighed in on CLNS shares. Zacks Investment Research upgraded shares of NorthStar Asset Management Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. FBR & Co restated a “buy” rating and set a $16.00 price objective 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 assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.85.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new stake in NorthStar Asset Management Group during the first quarter valued at approximately $1,073,347,000. Baupost Group LLC MA acquired a new stake in NorthStar Asset Management Group during the first quarter valued at approximately $618,460,000. BlackRock Inc. acquired a new stake in NorthStar Asset Management Group during the first quarter valued at approximately $399,597,000. FMR LLC acquired a new stake in NorthStar Asset Management Group during the first quarter valued at approximately $314,654,000. Finally, CI Investments Inc. acquired a new stake in NorthStar Asset Management Group during the first quarter valued at approximately $231,290,000. 82.33% of the stock is owned by institutional investors and hedge funds.
NorthStar Asset Management Group (NYSE CLNS) opened at 12.77 on Wednesday. The stock’s 50 day moving average is $14.10 and its 200 day moving average is $13.76. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 148.49 and a beta of 1.54. NorthStar Asset Management Group has a 52-week low of $11.89 and a 52-week high of $16.08.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.08 annualized dividend and a yield of 8.46%. NorthStar Asset Management Group’s dividend payout ratio is currently 830.83%.
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About NorthStar Asset Management Group
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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