NorthStar Asset Management Group, Inc. (NYSE:CLNS) has received an average recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.81.
Several brokerages have issued reports on CLNS. FBR & Co reiterated a “buy” rating and issued a $15.00 price target (down previously from $16.00) on shares of NorthStar Asset Management Group in a report on Friday, August 11th. Zacks Investment Research upgraded NorthStar Asset Management Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
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Shares of NorthStar Asset Management Group (NYSE:CLNS) traded up 0.85% during midday trading on Friday, reaching $13.11. The company had a trading volume of 4,758,143 shares. The stock’s 50 day moving average is $13.93 and its 200-day moving average is $13.71. The stock has a market capitalization of $7.24 billion, a PE ratio of 152.44 and a beta of 1.54. NorthStar Asset Management Group has a 12-month low of $11.89 and a 12-month high of $16.08.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 8.24%. The ex-dividend date is Thursday, September 28th. NorthStar Asset Management Group’s dividend payout ratio (DPR) is presently 830.83%.
Several hedge funds have recently modified their holdings of CLNS. Independent Portfolio Consultants Inc. bought a new stake in shares of NorthStar Asset Management Group during the first quarter valued at approximately $118,000. Meadow Creek Investment Management LLC bought a new stake in shares of NorthStar Asset Management Group during the first quarter valued at approximately $118,000. Cowen Prime Services LLC bought a new stake in shares of NorthStar Asset Management Group during the first quarter valued at approximately $130,000. Stifel Financial Corp bought a new stake in shares of NorthStar Asset Management Group during the first quarter valued at approximately $130,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of NorthStar Asset Management Group during the first quarter valued at approximately $150,000. 82.33% of the stock is owned by hedge funds and other institutional investors.
About NorthStar Asset Management Group
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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