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Research analysts at Goldman Sachs initiated coverage on shares of Colony Financial (NASDAQ:CLNY) in a report released on Tuesday. The firm set a “neutral” rating and a $22.00 price target on the stock. Goldman Sachs’ target price points to a potential upside of 1.06% from the company’s current price.

Colony Financial (NASDAQ:CLNY) opened at 21.77 on Tuesday. Colony Financial has a 1-year low of $19.03 and a 1-year high of $23.35. The stock’s 50-day moving average is $21.55 and its 200-day moving average is $21.33. The company has a market cap of $2.011 billion and a price-to-earnings ratio of 18.81.

Colony Financial (NASDAQ:CLNY) last released its earnings data on Thursday, May 8th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. On average, analysts predict that Colony Financial will post $1.66 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.61%. The ex-dividend date is Thursday, June 26th. This is a boost from Colony Financial’s previous quarterly dividend of $0.35.

Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Colony Financial from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 8th. They now have a $20.50 price target on the stock. Analysts at FBR Capital Markets raised their price target on shares of Colony Financial from $23.00 to $24.00 in a research note on Monday, March 10th. They now have an “outperform” rating on the stock.

Colony Financial, Inc is a real estate investment and finance company. The Company primarily acquires, originates and manages a diversified portfolio of real estate-related debt instruments.

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