NorthStar Realty Europe Sees Unusually High Options Volume (NYSE:NRE)

NorthStar Realty Europe (NYSE:NRE) saw some unusual options trading activity on Thursday. Traders purchased 823 call options on the company. This represents an increase of 868% compared to the typical daily volume of 85 call options.

Shares of NYSE:NRE traded up $0.08 during midday trading on Friday, hitting $13.18. The stock had a trading volume of 435,166 shares, compared to its average volume of 476,991. NorthStar Realty Europe has a 12 month low of $10.08 and a 12 month high of $14.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.06 and a quick ratio of 0.06.

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NorthStar Realty Europe (NYSE:NRE) last released its earnings results on Tuesday, March 13th. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.12. NorthStar Realty Europe had a negative net margin of 23.96% and a positive return on equity of 8.12%. The business had revenue of $32.55 million during the quarter. equities research analysts predict that NorthStar Realty Europe will post 0.98 earnings per share for the current fiscal year.

NorthStar Realty Europe declared that its board has authorized a stock repurchase plan on Tuesday, March 13th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

The company also recently announced 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 of this dividend was Friday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.55%.

A number of analysts have recently issued reports on NRE shares. Zacks Investment Research downgraded shares of NorthStar Realty Europe from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. B. Riley set a $18.00 price objective on shares of NorthStar Realty Europe and gave the company a “buy” rating in a report on Thursday, March 15th. Finally, ValuEngine upgraded shares of NorthStar Realty Europe from a “hold” rating to a “buy” rating in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.63.

Several large investors have recently added to or reduced their stakes in NRE. Institutional & Family Asset Management LLC bought a new position in shares of NorthStar Realty Europe in the third quarter valued at $145,000. Ellington Management Group LLC bought a new position in shares of NorthStar Realty Europe in the fourth quarter valued at $148,000. QS Investors LLC bought a new position in shares of NorthStar Realty Europe in the fourth quarter valued at $150,000. Sei Investments Co. boosted its position in 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 worth $195,000 after purchasing an additional 8,731 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in NorthStar Realty Europe during the fourth quarter worth $241,000. 71.73% of the stock is owned by institutional investors and hedge funds.

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About NorthStar Realty Europe

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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