Zacks Investment Research Lowers Northstar Realty Europe (NRE) to Sell

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

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 equities research analysts have also commented on the stock. B. Riley set a $17.00 price target on shares of Northstar Realty Europe and gave the company a buy rating in a report on Monday, May 14th. ValuEngine lowered shares of Northstar Realty Europe from a buy rating to a hold rating in a report on Monday, May 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $16.38.

NYSE:NRE opened at $14.36 on Friday. Northstar Realty Europe has a one year low of $10.08 and a one year high of $14.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.05 and a current ratio of 0.05.

Northstar Realty Europe (NYSE:NRE) last posted its quarterly earnings results on Thursday, May 10th. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). Northstar Realty Europe had a negative net margin of 12.85% and a positive return on equity of 8.12%. The business had revenue of $33.57 million during the quarter, compared to analysts’ expectations of $32.86 million. equities research analysts anticipate that Northstar Realty Europe will post 0.91 earnings per share for the current fiscal year.

Northstar Realty Europe announced that its board has initiated a stock repurchase program on Tuesday, March 13th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the company. Ellington Management Group LLC acquired a new position in shares of Northstar Realty Europe during the 4th quarter worth about $148,000. QS Investors LLC acquired a new position in shares of Northstar Realty Europe during the 4th quarter worth about $150,000. TCW Group Inc. acquired a new position in shares of Northstar Realty Europe during the 1st quarter worth about $209,000. WINTON GROUP Ltd acquired a new position in shares of Northstar Realty Europe during the 1st quarter worth about $216,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Northstar Realty Europe during the 4th quarter worth about $241,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.

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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