NorthStar Asset Management Group, Inc. (CLNS) Rating Increased to Hold at Zacks Investment Research
NorthStar Asset Management Group, Inc. (NYSE:CLNS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Colony NorthStar, Inc. is a real estate and investment management firm. It creates long-term value through investing in real estate and real estate-related assets. Colony NorthStar Inc., formerly known as Northstar Asset management Group, is based in New York. “
CLNS has been the subject of a number of other research reports. FBR & Co reiterated a “buy” rating on shares of NorthStar Asset Management Group in a report on Tuesday, September 5th. ValuEngine cut NorthStar Asset Management Group from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. NorthStar Asset Management Group currently has an average rating of “Buy” and an average target price of $16.81.
Shares of NorthStar Asset Management Group (CLNS) traded up 0.08% on Monday, reaching $12.51. The company’s stock had a trading volume of 1,970,338 shares. The company’s 50 day moving average is $12.77 and its 200-day moving average is $13.51. NorthStar Asset Management Group has a 1-year low of $12.37 and a 1-year high of $16.08. The stock has a market cap of $6.91 billion, a PE ratio of 145.47 and a beta of 1.54.
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In other news, CFO Darren J. Tangen sold 200,000 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $12.42, for a total transaction of $2,484,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Colony Northstar, Inc. purchased 5,501 shares of the stock in a transaction dated Thursday, October 5th. The shares were bought at an average price of $5.40 per share, with a total value of $29,705.40. The disclosure for this purchase can be found here. 7.99% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Stifel Financial Corp acquired a new position in shares of NorthStar Asset Management Group during the first quarter worth $130,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in NorthStar Asset Management Group in the first quarter valued at $173,000. American International Group Inc. acquired a new stake in NorthStar Asset Management Group in the first quarter valued at $178,000. Paloma Partners Management Co acquired a new stake in NorthStar Asset Management Group in the first quarter valued at $195,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in NorthStar Asset Management Group in the first quarter valued at $232,000. Institutional investors own 81.30% of the company’s stock.
About NorthStar Asset Management Group
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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