Colony Credit Real Estate (CLNC) Issues Quarterly Earnings Results

Colony Credit Real Estate (NYSE:CLNC) announced its quarterly earnings results on Tuesday. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05), MarketWatch Earnings reports. The business had revenue of $29.96 million during the quarter, compared to the consensus estimate of $126.10 million.

NYSE:CLNC traded down $0.05 on Wednesday, hitting $19.92. 274,501 shares of the stock were exchanged, compared to its average volume of 476,168. The company has a debt-to-equity ratio of 0.29, a quick ratio of 6.73 and a current ratio of 6.73. Colony Credit Real Estate has a fifty-two week low of $17.66 and a fifty-two week high of $23.23.

The company also recently declared a monthly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.145 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.74 annualized dividend and a yield of 8.73%.

Large investors have recently made changes to their positions in the business. CWM LLC grew its stake in shares of Colony Credit Real Estate by 185.4% in the third quarter. CWM LLC now owns 4,891 shares of the company’s stock valued at $108,000 after buying an additional 3,177 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in shares of Colony Credit Real Estate in the second quarter valued at about $102,000. Wells Fargo & Company MN acquired a new stake in shares of Colony Credit Real Estate in the first quarter valued at about $101,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Colony Credit Real Estate in the second quarter valued at about $119,000. Finally, Bank of Montreal Can grew its stake in shares of Colony Credit Real Estate by 1,010.4% in the third quarter. Bank of Montreal Can now owns 6,618 shares of the company’s stock valued at $146,000 after buying an additional 6,022 shares in the last quarter. Institutional investors own 17.17% of the company’s stock.

Separately, Zacks Investment Research upgraded Colony Credit Real Estate from a “strong sell” rating to a “hold” rating in a research note on Monday, October 15th.

ILLEGAL ACTIVITY WARNING: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/11/07/colony-credit-real-estate-clnc-issues-quarterly-earnings-results.html.

About Colony Credit Real Estate

Colony Credit Real Estate, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States. It focuses on originating, acquiring, financing, and managing a portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.

Further Reading: Correction

Receive News & Ratings for Colony Credit Real Estate Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colony Credit Real Estate and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply