M&T Bank Corp lowered its position in shares of Colony NorthStar (NYSE:CLNS) by 43.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,739 shares of the real estate investment trust’s stock after selling 88,971 shares during the quarter. M&T Bank Corp’s holdings in Colony NorthStar were worth $652,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CLNS. Millennium Management LLC raised its holdings in shares of Colony NorthStar by 3,710.4% during the fourth quarter. Millennium Management LLC now owns 3,355,584 shares of the real estate investment trust’s stock valued at $38,287,000 after purchasing an additional 3,267,520 shares during the period. Global X Management Co. LLC acquired a new position in shares of Colony NorthStar during the first quarter valued at about $7,959,000. Renaissance Technologies LLC acquired a new position in shares of Colony NorthStar during the fourth quarter valued at about $11,178,000. Triarii Capital Management LP acquired a new position in shares of Colony NorthStar during the fourth quarter valued at about $9,756,000. Finally, Tensile Capital Management LLC raised its holdings in shares of Colony NorthStar by 22.4% during the fourth quarter. Tensile Capital Management LLC now owns 4,180,728 shares of the real estate investment trust’s stock valued at $47,702,000 after purchasing an additional 765,000 shares during the period. 76.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director John Steffens acquired 10,000 shares of Colony NorthStar stock in a transaction on Tuesday, March 6th. The stock was acquired at an average cost of $5.94 per share, with a total value of $59,400.00. Following the transaction, the director now owns 61,690 shares of the company’s stock, valued at approximately $366,438.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.75% of the company’s stock.
CLNS opened at $5.78 on Wednesday. The company has a quick ratio of 3.68, a current ratio of 3.68 and a debt-to-equity ratio of 1.04. Colony NorthStar has a fifty-two week low of $5.28 and a fifty-two week high of $14.74.
Colony NorthStar (NYSE:CLNS) last posted its earnings results on Thursday, May 10th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.25). Colony NorthStar had a negative return on equity of 2.42% and a negative net margin of 9.27%. The business had revenue of $666.66 million during the quarter, compared to analyst estimates of $676.48 million. During the same quarter in the prior year, the company earned $0.31 EPS. The company’s revenue was up 9.8% on a year-over-year basis. analysts anticipate that Colony NorthStar will post 0.49 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be issued a $0.11 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.61%.
Several equities analysts have recently weighed in on CLNS shares. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 price objective on shares of Colony NorthStar in a report on Wednesday, January 31st. ValuEngine lowered shares of Colony NorthStar from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $6.00 target price on shares of Colony NorthStar in a report on Friday, March 2nd. TheStreet lowered shares of Colony NorthStar from a “c-” rating to a “d+” rating in a report on Wednesday, March 14th. Finally, B. Riley lowered their target price on shares of Colony NorthStar from $15.00 to $12.50 and set a “buy” rating on the stock in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Colony NorthStar presently has an average rating of “Buy” and an average price target of $11.25.
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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