New York State Common Retirement Fund lessened its stake in Colony NorthStar (NYSE:CLNS) by 2.1% in the first quarter, HoldingsChannel.com reports. The fund owned 1,163,160 shares of the real estate investment trust’s stock after selling 24,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Colony NorthStar were worth $6,537,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLNS. MANA Advisors LLC purchased a new position in Colony NorthStar in the 4th quarter worth approximately $121,000. SG Americas Securities LLC purchased a new position in Colony NorthStar in the 1st quarter worth approximately $123,000. Ellington Management Group LLC purchased a new position in Colony NorthStar in the 4th quarter worth approximately $126,000. American International Group Inc. purchased a new position in Colony NorthStar in the 4th quarter worth approximately $128,000. Finally, MML Investors Services LLC purchased a new position in Colony NorthStar in the 4th quarter worth approximately $132,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.
CLNS has been the subject of several research analyst reports. ValuEngine cut Colony NorthStar from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $6.00 target price on shares of Colony NorthStar in a research note on Friday, March 2nd. Wedbush reiterated an “outperform” rating and set a $9.00 target price (down from $17.25) on shares of Colony NorthStar in a research note on Tuesday, March 6th. B. Riley reduced their target price on Colony NorthStar from $12.50 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, March 7th. Finally, TheStreet cut Colony NorthStar from a “c-” rating to a “d+” rating in a research note on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Colony NorthStar currently has a consensus rating of “Buy” and an average target price of $11.25.
Colony NorthStar stock opened at $6.23 on Tuesday. The company has a current ratio of 3.68, a quick ratio of 3.68 and a debt-to-equity ratio of 1.04. Colony NorthStar has a 52 week low of $5.28 and a 52 week high of $14.74.
Colony NorthStar (NYSE:CLNS) last released its earnings results on Thursday, May 10th. The real estate investment trust reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.25). Colony NorthStar had a negative net margin of 9.27% and a negative return on equity of 2.42%. The business had revenue of $666.66 million for the quarter, compared to analysts’ expectations of $676.48 million. During the same quarter last year, the company posted $0.31 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. equities research analysts forecast that Colony NorthStar will post 0.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 7.06%. The ex-dividend date of this dividend is Thursday, June 28th.
Colony NorthStar Company Profile
Colony NorthStar, Inc (NYSE:CLNS) is a leading global real estate and investment management firm. The Company resulted from the January 2017 merger between Colony Capital, Inc, NorthStar Asset Management Group Inc and NorthStar Realty Finance Corp. The Company has significant property holdings in the healthcare, industrial and hospitality sectors, other equity and debt investments and an embedded institutional and retail investment management business.
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