NorthStar Asset Management Group, Inc. (CLNS) Receives “Buy” Rating from B. Riley

NorthStar Asset Management Group, Inc. (NYSE:CLNS)‘s stock had its “buy” rating restated by investment analysts at B. Riley in a research note issued to investors on Friday, November 10th. They presently have a $15.00 price target on the real estate investment trust’s stock. B. Riley’s price target would indicate a potential upside of 21.36% from the company’s previous close.

A number of other research firms have also recently commented on CLNS. FBR & Co reissued a “buy” rating and issued a $15.00 target price (down previously from $16.00) on shares of NorthStar Asset Management Group in a report on Friday, August 11th. ValuEngine raised shares of NorthStar Asset Management Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research cut shares of NorthStar Asset Management Group from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Three investment 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 an average price target of $16.45.

NorthStar Asset Management Group (CLNS) opened at $12.36 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.64 and a quick ratio of 4.64. NorthStar Asset Management Group has a one year low of $12.10 and a one year high of $16.08. The company has a market cap of $6,680.85, a PE ratio of 50.96 and a beta of 1.52.

NorthStar Asset Management Group (NYSE:CLNS) last released its quarterly earnings results on Thursday, November 9th. The real estate investment trust reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. NorthStar Asset Management Group had a net margin of 5.83% and a return on equity of 1.88%. The business had revenue of $788.90 million for the quarter, compared to the consensus estimate of $695.50 million. NorthStar Asset Management Group’s revenue for the quarter was up 271.9% compared to the same quarter last year. research analysts anticipate that NorthStar Asset Management Group will post 1.41 EPS for the current fiscal year.

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In related news, major shareholder Colony Northstar, Inc. acquired 119,115 shares of NorthStar Asset Management Group stock in a transaction dated Tuesday, October 17th. The stock was bought at an average price of $9.04 per share, with a total value of $1,076,799.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Darren J. Tangen sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was 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. Corporate insiders own 7.99% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CLNS. Prudential Financial Inc. bought a new position in shares of NorthStar Asset Management Group in the 1st quarter worth $444,000. American International Group Inc. bought a new position in shares of NorthStar Asset Management Group in the 1st quarter worth $178,000. Wellington Management Group LLP bought a new position in shares of NorthStar Asset Management Group in the 1st quarter worth $434,000. Teachers Advisors LLC bought a new position in shares of NorthStar Asset Management Group in the 1st quarter worth $7,567,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of NorthStar Asset Management Group in the 1st quarter worth $10,652,000. Institutional investors own 81.98% of the company’s stock.

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.

Analyst Recommendations for NorthStar Asset Management Group (NYSE:CLNS)

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