ValuEngine Upgrades Colony NorthStar (CLNS) to “Strong-Buy”
ValuEngine upgraded shares of Colony NorthStar (NYSE:CLNS) from a buy rating to a strong-buy rating in a research note published on Saturday morning.
Several other research analysts have also weighed in on CLNS. B. Riley reiterated a buy rating and set a $15.00 price objective on shares of Colony NorthStar in a report on Friday, November 10th. JMP Securities upgraded shares of Colony NorthStar from a market perform rating to an outperform rating and set a $13.00 price target on the stock in a report on Friday, January 5th. Zacks Investment Research lowered shares of Colony NorthStar from a hold rating to a sell rating in a report on Wednesday, January 10th. Royal Bank of Canada restated an outperform rating and issued a $19.00 price target on shares of Colony NorthStar in a report on Wednesday, January 31st. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $6.00 price target on shares of Colony NorthStar in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Colony NorthStar currently has a consensus rating of Buy and an average target price of $12.00.
Shares of Colony NorthStar (NYSE:CLNS) traded up $0.01 during mid-day trading on Friday, hitting $5.98. 6,497,561 shares of the stock traded hands, compared to its average volume of 11,130,000. The stock has a market cap of $3,260.00, a price-to-earnings ratio of -8.42 and a beta of 1.17. Colony NorthStar has a 1-year low of $5.28 and a 1-year high of $14.74. The company has a debt-to-equity ratio of 1.01, a quick ratio of 4.64 and a current ratio of 5.14.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.44 annualized dividend and a yield of 7.36%. Colony NorthStar’s payout ratio is -152.11%.
In related news, insider Neale Redington sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $11.74, for a total value of $146,750.00. Following the transaction, the insider now owns 182,908 shares in the company, valued at $2,147,339.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Steffens purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was acquired at an average price of $5.94 per share, for a total transaction of $59,400.00. Following the acquisition, the director now directly owns 61,690 shares of the company’s stock, valued at approximately $366,438.60. The disclosure for this purchase can be found here. Insiders sold 3,493,363 shares of company stock worth $42,260,703 in the last 90 days. 7.99% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Colony NorthStar by 3,710.4% during the fourth quarter. Millennium Management LLC now owns 3,355,584 shares of the real estate investment trust’s stock valued at $38,287,000 after purchasing an additional 3,267,520 shares during the period. Wells Fargo & Company MN raised its stake in shares of Colony NorthStar by 104.7% during the third quarter. Wells Fargo & Company MN now owns 2,210,035 shares of the real estate investment trust’s stock valued at $27,758,000 after purchasing an additional 1,130,318 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Colony NorthStar during the fourth quarter valued at approximately $11,178,000. Triarii Capital Management LP purchased a new stake in shares of Colony NorthStar during the fourth quarter valued at approximately $9,756,000. Finally, Tensile Capital Management LLC raised its stake in shares of Colony NorthStar by 22.4% during the fourth quarter. Tensile Capital Management LLC now owns 4,180,728 shares of the real estate investment trust’s stock valued at $47,702,000 after purchasing an additional 765,000 shares during the period. Hedge funds and other institutional investors own 80.98% of the company’s stock.
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About Colony NorthStar
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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