NorthStar Asset Management Group, Inc. (CLNS) Releases Quarterly Earnings Results, Hits Expectations
NorthStar Asset Management Group, Inc. (NYSE:CLNS) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.33 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.33, Briefing.com reports. The firm had revenue of $788.90 million for the quarter, compared to analyst estimates of $695.50 million. NorthStar Asset Management Group had a net margin of 7.95% and a return on equity of 3.04%. NorthStar Asset Management Group’s quarterly revenue was up 271.9% compared to the same quarter last year.
NorthStar Asset Management Group (CLNS) traded down $0.15 during mid-day trading on Friday, reaching $12.56. 1,385,056 shares of the company’s stock were exchanged, compared to its average volume of 2,210,000. The firm has a market cap of $6,860.00, a P/E ratio of 24.70 and a beta of 1.49. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.07 and a current ratio of 5.07. NorthStar Asset Management Group has a 12 month low of $12.12 and a 12 month high of $16.08.
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A number of research analysts recently weighed in on the stock. FBR & Co reaffirmed a “buy” rating and issued a $15.00 price target (down from $16.00) on shares of NorthStar Asset Management Group in a research note on Friday, August 11th. ValuEngine lowered shares of NorthStar Asset Management Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Zacks Investment Research lowered shares of NorthStar Asset Management Group from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $15.00 price target on shares of NorthStar Asset Management Group in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. NorthStar Asset Management Group presently has an average rating of “Buy” and a consensus price target of $16.45.
In other NorthStar Asset Management Group news, major shareholder Colony Northstar, Inc. acquired 119,115 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was bought at an average price of $9.04 per share, for a total transaction of $1,076,799.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Darren J. Tangen sold 200,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $12.42, for a total transaction of $2,484,000.00. The disclosure for this sale can be found here. 7.99% of the stock is currently owned by corporate insiders.
NorthStar Asset Management Group 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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