Northstar Realty Europe (NRE) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Northstar Realty Europe (NYSE:NRE) from a buy rating to a hold rating in a research note released on Thursday morning.

According to Zacks, “Northstar Realty Europe Corp. is a real estate investment trust which focused commercial real estate. It operates primarily in Berlin, Frankfurt, Hamburg, London, Paris, Amsterdam, Milan, Brussels and Madrid. Northstar Realty Europe Corp. is based in New York. “

Several other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Northstar Realty Europe from a buy rating to a hold rating in a research report on Friday, December 1st. B. Riley reissued a buy rating and set a $17.00 price target on shares of Northstar Realty Europe in a research report on Wednesday, November 1st. FBR & Co assumed coverage on shares of Northstar Realty Europe in a research report on Tuesday, October 31st. They set a buy rating and a $17.00 price target on the stock. Finally, JMP Securities assumed coverage on shares of Northstar Realty Europe in a research report on Wednesday, October 4th. They set an outperform rating and a $16.50 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Northstar Realty Europe currently has a consensus rating of Hold and a consensus target price of $16.38.

Shares of Northstar Realty Europe (NRE) traded down $0.06 during mid-day trading on Thursday, hitting $12.68. 120,700 shares of the stock traded hands, compared to its average volume of 130,578. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $702.43 and a PE ratio of -37.29. Northstar Realty Europe has a 1 year low of $11.15 and a 1 year high of $14.70.

Northstar Realty Europe (NYSE:NRE) last announced its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. Northstar Realty Europe had a negative net margin of 14.48% and a positive return on equity of 7.68%. analysts expect that Northstar Realty Europe will post 0.15 EPS for the current fiscal year.

In related news, major shareholder Colony Northstar, Inc. bought 99,628 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were bought at an average price of $14.54 per share, with a total value of $1,448,591.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its position in Northstar Realty Europe by 0.5% in the second quarter. Wells Fargo & Company MN now owns 115,517 shares of the financial services provider’s stock valued at $1,465,000 after buying an additional 539 shares during the last quarter. Teachers Advisors LLC lifted its position in Northstar Realty Europe by 0.8% in the second quarter. Teachers Advisors LLC now owns 114,989 shares of the financial services provider’s stock valued at $1,458,000 after buying an additional 898 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Northstar Realty Europe by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 44,850 shares of the financial services provider’s stock valued at $569,000 after buying an additional 917 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Northstar Realty Europe by 1.1% during the second quarter. JPMorgan Chase & Co. now owns 133,713 shares of the financial services provider’s stock worth $1,695,000 after purchasing an additional 1,474 shares in the last quarter. Finally, Citigroup Inc. lifted its position in shares of Northstar Realty Europe by 31.8% during the second quarter. Citigroup Inc. now owns 8,626 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 2,081 shares in the last quarter. 70.75% of the stock is currently owned by institutional investors.

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Northstar Realty Europe Company Profile

NorthStar Realty Europe Corp. is a real estate investment trust (REIT). The Company is a European focused commercial real estate company with primary office properties in cities within Germany, the United Kingdom and France. Its objective is to provide its stockholders with stable and recurring cash flow supplemented by capital growth over time.

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