NorthStar Realty Europe (NYSE:NRE) – Equities research analysts at B. Riley boosted their Q1 2018 earnings per share (EPS) estimates for shares of NorthStar Realty Europe in a research note issued to investors on Thursday, March 15th, Zacks Investment Research reports. B. Riley analyst B. Maher now anticipates that the financial services provider will post earnings of $0.25 per share for the quarter, up from their previous forecast of $0.22. B. Riley has a “Buy” rating and a $18.00 price objective on the stock. B. Riley also issued estimates for NorthStar Realty Europe’s Q2 2018 earnings at $0.24 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.98 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.23 EPS and FY2019 earnings at $0.98 EPS.
NorthStar Realty Europe (NYSE:NRE) last posted its quarterly earnings results on Tuesday, March 13th. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.11 by $0.12. The firm had revenue of $32.55 million during the quarter. NorthStar Realty Europe had a positive return on equity of 8.12% and a negative net margin of 23.96%.
Several other brokerages also recently commented on NRE. Zacks Investment Research raised NorthStar Realty Europe from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, January 3rd. ValuEngine upgraded NorthStar Realty Europe from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. NorthStar Realty Europe currently has an average rating of “Buy” and a consensus price target of $16.63.
NRE traded up $0.08 during mid-day trading on Friday, reaching $13.18. The stock had a trading volume of 435,166 shares, compared to its average volume of 476,991. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.01. NorthStar Realty Europe has a 52 week low of $10.08 and a 52 week high of $14.70.
NorthStar Realty Europe declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 13th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Monday, March 19th were paid a $0.15 dividend. The ex-dividend date was Friday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.55%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in NorthStar Realty Europe by 2.1% during 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 acquiring an additional 917 shares during the last quarter. Citadel Advisors LLC boosted its position in NorthStar Realty Europe by 30.6% during the third quarter. Citadel Advisors LLC now owns 28,769 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 6,735 shares during the last quarter. Teachers Insurance & Annuity Association of America boosted its position in NorthStar Realty Europe by 13.3% during the fourth quarter. Teachers Insurance & Annuity Association of America now owns 61,800 shares of the financial services provider’s stock valued at $830,000 after acquiring an additional 7,246 shares during the last quarter. Sei Investments Co. raised its holdings in shares of NorthStar Realty Europe by 135.9% during the third quarter. Sei Investments Co. now owns 15,156 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 8,731 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of NorthStar Realty Europe by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 527,437 shares of the financial services provider’s stock valued at $7,083,000 after purchasing an additional 9,600 shares during the period. 71.73% of the stock is currently owned by institutional investors and hedge funds.
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NorthStar Realty Europe Company Profile
NorthStar Realty Europe Corp. is a European focused commercial real estate company with predominately prime office properties within key cities in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony NorthStar, Inc (NYSE: CLNS), a leading global equity REIT with an embedded investment management platform.
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