Colony NorthStar (NYSE:CLNS) was upgraded by investment analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat reports. The brokerage currently has a $13.00 price objective on the real estate investment trust’s stock. JMP Securities’ price target would suggest a potential upside of 18.29% from the stock’s previous close.
A number of other research firms also recently issued reports on CLNS. ValuEngine downgraded shares of Colony NorthStar from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research downgraded shares of Colony NorthStar from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. FBR & Co reissued a “buy” rating and set a $15.00 target price on shares of Colony NorthStar in a research report on Tuesday, October 3rd. Finally, B. Riley reissued a “buy” rating and set a $15.00 target price on shares of Colony NorthStar in a research report on Friday, November 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Colony NorthStar has an average rating of “Buy” and a consensus price target of $16.05.
Shares of Colony NorthStar (NYSE CLNS) opened at $10.99 on Friday. The stock has a market cap of $6,003.47, a P/E ratio of 45.79 and a beta of 1.49. Colony NorthStar has a 1 year low of $10.95 and a 1 year high of $16.08. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.95.
In other Colony NorthStar news, Vice Chairman David T. Hamamoto sold 449,780 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $12.05, for a total value of $5,419,849.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neale Redington sold 12,500 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $11.74, for a total transaction of $146,750.00. Following the completion of the sale, the insider now directly owns 182,908 shares of the company’s stock, valued at approximately $2,147,339.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,493,363 shares of company stock valued at $42,260,703. Corporate insiders own 7.99% of the company’s stock.
A number of large investors have recently modified their holdings of CLNS. Wells Fargo & Company MN grew its position in Colony NorthStar by 104.7% in the third quarter. Wells Fargo & Company MN now owns 2,210,035 shares of the real estate investment trust’s stock valued at $27,758,000 after acquiring an additional 1,130,318 shares in the last quarter. Tahithromos L.L.C. acquired a new stake in Colony NorthStar in the third quarter valued at approximately $8,524,000. JPMorgan Chase & Co. grew its position in Colony NorthStar by 79.8% in the third quarter. JPMorgan Chase & Co. now owns 905,809 shares of the real estate investment trust’s stock valued at $11,368,000 after acquiring an additional 402,062 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Colony NorthStar by 10.9% during the 3rd quarter. Legal & General Group Plc now owns 564,025 shares of the real estate investment trust’s stock valued at $7,085,000 after buying an additional 55,336 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Colony NorthStar by 189.9% during the 3rd quarter. Schroder Investment Management Group now owns 81,355 shares of the real estate investment trust’s stock valued at $1,021,000 after buying an additional 53,295 shares during the last quarter. 82.27% of the stock is owned by institutional investors.
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About Colony NorthStar
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.
