Share Buyback Program Approved by Northstar Realty Europe (NRE) Board

Northstar Realty Europe (NYSE:NRE) announced that its Board of Directors has authorized a stock buyback plan, which permits the company to buyback $100.00 million in shares on Tuesday, March 13th, EventVestor reports. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Shares of Northstar Realty Europe (NYSE:NRE) traded up $0.29 during trading on Wednesday, hitting $12.71. 103,231 shares of the company traded hands, compared to its average volume of 271,201. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $613.79, a price-to-earnings ratio of -35.48 and a beta of 1.97. Northstar Realty Europe has a 52 week low of $10.08 and a 52 week high of $14.70.

Northstar Realty Europe (NYSE:NRE) last issued its quarterly earnings results on Tuesday, March 13th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.12. The company had revenue of $32.55 million during the quarter. Northstar Realty Europe had a negative net margin of 14.48% and a positive return on equity of 7.68%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Monday, March 19th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 4.72%. Northstar Realty Europe’s payout ratio is -171.42%.

NRE has been the subject of several research analyst reports. ValuEngine cut shares of Northstar Realty Europe from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Northstar Realty Europe from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, January 3rd. Finally, B. Riley reaffirmed a “buy” rating on shares of Northstar Realty Europe in a research report on Friday, March 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Northstar Realty Europe currently has a consensus rating of “Hold” and a consensus price target of $16.38.

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Northstar Realty Europe Company Profile

NorthStar Realty Europe Corp. is a real estate investment trust (REIT). The Company is a European focused commercial real estate company with primary office properties in cities within Germany, the United Kingdom and France. Its objective is to provide its stockholders with stable and recurring cash flow supplemented by capital growth over time.

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