NorthStar Realty Europe (NYSE:NRE) Issues Quarterly Earnings Results

NorthStar Realty Europe (NYSE:NRE) issued its quarterly earnings data on Tuesday, March 13th. The financial services provider reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.12, Morningstar.com reports. NorthStar Realty Europe had a negative net margin of 23.96% and a positive return on equity of 8.12%. The firm had revenue of $32.55 million for the quarter.

NRE traded up $0.08 during mid-day trading on Friday, hitting $13.18. The stock had a trading volume of 435,166 shares, compared to its average volume of 326,974. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.01. NorthStar Realty Europe has a 1-year low of $10.08 and a 1-year high of $14.70.

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The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Monday, March 19th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 16th. This represents a $0.60 annualized dividend and a yield of 4.55%.

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of NorthStar Realty Europe by 18.8% during the second quarter. Dimensional Fund Advisors LP now owns 670,428 shares of the financial services provider’s stock worth $8,501,000 after acquiring an additional 105,880 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of NorthStar Realty Europe by 41.5% during the third quarter. Russell Investments Group Ltd. now owns 243,047 shares of the financial services provider’s stock worth $3,113,000 after acquiring an additional 71,259 shares during the period. Private Management Group Inc. raised its holdings in shares of NorthStar Realty Europe by 2.0% during the third quarter. Private Management Group Inc. now owns 1,517,776 shares of the financial services provider’s stock worth $19,443,000 after acquiring an additional 29,853 shares during the period. OxFORD Asset Management LLP acquired a new stake in shares of NorthStar Realty Europe during the third quarter worth $415,000. Finally, Wells Fargo & Company MN raised its holdings in shares of NorthStar Realty Europe by 13.5% during the third quarter. Wells Fargo & Company MN now owns 131,161 shares of the financial services provider’s stock worth $1,681,000 after acquiring an additional 15,644 shares during the period. Institutional investors and hedge funds own 71.73% of the company’s stock.

Several analysts have recently commented on NRE shares. B. Riley set a $18.00 price target on shares of NorthStar Realty Europe and gave the company a “buy” rating in a research note on Thursday, March 15th. Zacks Investment Research raised shares of NorthStar Realty Europe from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, January 3rd. Finally, ValuEngine raised shares of NorthStar Realty Europe from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $16.63.

NorthStar Realty Europe announced that its board has authorized a stock buyback program on Tuesday, March 13th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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About NorthStar Realty Europe

NorthStar Realty Europe Corp. is a European focused commercial real estate company with predominately prime office properties within key cities in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony NorthStar, Inc (NYSE: CLNS), a leading global equity REIT with an embedded investment management platform.

Earnings History for NorthStar Realty Europe (NYSE:NRE)

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