Thornburg Investment Management Inc. purchased a new stake in Colony NorthStar Inc (NYSE:CLNS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,798,161 shares of the real estate investment trust’s stock, valued at approximately $61,944,000. Thornburg Investment Management Inc. owned approximately 0.85% of Colony NorthStar as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CLNS. Creative Planning bought a new stake in shares of Colony NorthStar during the first quarter valued at approximately $1,235,000. Sigma Planning Corp bought a new stake in shares of Colony NorthStar during the first quarter valued at approximately $185,000. Jennison Associates LLC bought a new stake in shares of Colony NorthStar during the first quarter valued at approximately $74,704,000. Pensionfund DSM Netherlands bought a new stake in shares of Colony NorthStar during the first quarter valued at approximately $1,306,000. Finally, Buckhead Capital Management LLC bought a new stake in shares of Colony NorthStar during the first quarter valued at approximately $1,690,000. Institutional investors own 89.60% of the company’s stock.
Shares of Colony NorthStar Inc (NYSE:CLNS) traded up 0.07% during mid-day trading on Friday, reaching $13.46. The company had a trading volume of 2,568,564 shares. The stock has a 50 day moving average price of $13.06 and a 200 day moving average price of $13.94. The firm has a market capitalization of $7.42 billion, a PE ratio of 66.97 and a beta of 1.49. Colony NorthStar Inc has a 12-month low of $9.70 and a 12-month high of $16.08.
Colony NorthStar (NYSE:CLNS) last announced its quarterly earnings results on Tuesday, February 28th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.10. The company had revenue of $99.52 million during the quarter, compared to analysts’ expectations of $87.20 million. Colony NorthStar had a return on equity of 112.58% and a net margin of 17.35%. On average, equities analysts forecast that Colony NorthStar Inc will post $1.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.27 dividend. This is a boost from Colony NorthStar’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend is Wednesday, June 28th. Colony NorthStar’s payout ratio is 105.27%.
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Several analysts recently commented on the company. Zacks Investment Research cut Colony NorthStar from a “hold” rating to a “sell” rating in a report on Tuesday. FBR & Co reiterated a “buy” rating and issued a $16.00 target price on shares of Colony NorthStar in a report on Monday. Royal Bank of Canada reiterated a “buy” rating and issued a $20.00 target price on shares of Colony NorthStar in a report on Thursday, March 2nd. JMP Securities assumed coverage on Colony NorthStar in a report on Friday, March 31st. They issued a “market perform” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $17.25 target price (down from $26.00) on shares of Colony NorthStar in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.05.
Colony NorthStar Company Profile
Colony NorthStar, Inc is a diversified equity real estate investment trust (REIT). The Company combines a portfolio of real assets across the world, which are managed with a global real estate investment manager. The Company has property holdings in the healthcare, industrial and hospitality sectors, opportunistic equity and debt investments, and an embedded institutional and retail investment management business.
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