MLV & Co Boosts Northstar Realty Finance Corp. Price Target to $24.50 (NRF)
Investment analysts at MLV & Co
increased their target price on shares of Northstar Realty Finance Corp. (NYSE:NRF) from $22.25 to $24.50 in a note issued to investors on Thursday. MLV & Co
‘s price target indicates a potential upside of 35.28% from the company’s current price.
Northstar Realty Finance Corp. (NYSE:NRF) traded up 1.60% on Thursday, hitting $18.40. The stock had a trading volume of 1,130,874 shares. Northstar Realty Finance Corp. has a 52-week low of $8.3358 and a 52-week high of $18.49. The stock’s 50-day moving average is $17.13 and its 200-day moving average is $15.91. The company’s market cap is $3.641 billion. Northstar Realty Finance Corp. also saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 7,087,060 shares, a decline of 50.8% from the July 15th total of 14,413,130 shares. Based on an average daily trading volume, of 3,159,467 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.8% of the company’s shares are sold short.
Northstar Realty Finance Corp. (NYSE:NRF) last released its earnings data on Thursday, August 7th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.64 by $0.06. During the same quarter last year, the company posted $0.30 earnings per share. Analysts expect that Northstar Realty Finance Corp. will post $1.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Shareholders 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 11.04%. The ex-dividend date of this dividend is Thursday, August 14th.
Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of Northstar Realty Finance Corp. from $19.00 to $20.00 in a research note on Monday, August 11th. They now have a “top pick” rating on the stock. Separately, 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. 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. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $21.10.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.