Northstar Realty Finance Corp. Given “Buy” Rating at MLV & Co (NRF)
Northstar Realty Finance Corp. (NYSE:NRF)‘s stock had its “buy” rating reaffirmed by investment analysts at MLV & Co
in a note issued to investors on Thursday. They currently have a $22.25 target price on the stock, down from their previous target price of $24.00. MLV & Co
‘s price objective indicates a potential upside of 28.02% from the stock’s previous close.
The analysts wrote, “NRF declared a dividend of 50 cents for the second quarter of 2014. This was the last quarter in which the financial results of its manager, NorthStar Asset Management (NYSE:NSAM; $17.92; NR), were included with those of NRF. NRF completed the spin-off of NSAM as of July 1, 2014. In the press release announcing the dividend, the company also disclosed its expectation that it would pay a quarterly dividend of 40 cents in each of the next two quarters, those ending September 30 and December 31, 2014, its first two as a standalone entity. The prospective 40-cent dividend represents an annual yield of 9.2% at today’s closing price, well above that of its peers.”
Shares of Northstar Realty Finance Corp. (NYSE:NRF) traded up 4.14% on Thursday, hitting $18.10. 2,070,536 shares of the company’s stock traded hands. Northstar Realty Finance Corp. has a 52-week low of $8.3358 and a 52-week high of $17.6043. The stock’s 50-day moving average is $16.69 and its 200-day moving average is $15.65. The company’s market cap is $3.010 billion.
Northstar Realty Finance Corp. (NYSE:NRF) last announced its earnings results on Thursday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.06. During the same quarter in the previous year, the company posted $0.30 earnings per share. On average, analysts predict that Northstar Realty Finance Corp. will post $1.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Investors of record on Monday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 11.51%. The ex-dividend date of this dividend is Thursday, August 14th.
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities reiterated a “market outperform” rating on shares of Northstar Realty Finance Corp. in a research note on Friday, July 25th. They now have a $21.00 price target on the stock, up previously from $15.00. Separately, analysts at Zacks downgraded shares of Northstar Realty Finance Corp. from a “neutral” rating to an “underperform” rating in a research note on Monday, July 7th. They now have a $16.10 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Northstar Realty Finance Corp. in a research note on Tuesday, July 1st. They now have a $21.00 price target on the stock, up previously from $20.00. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Northstar Realty Finance Corp. has an average rating of “Buy” and a consensus price target of $19.73.
NorthStar Realty Finance Corp. is an internally managed real estate finance company. It originates, acquires and manages portfolios of commercial real estate debt, commercial real estate securities and net lease properties.
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