NorthStar Asset Management Group (CLNS) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of NorthStar Asset Management Group (NYSE:CLNS) from a hold rating to a buy rating in a report issued on Wednesday morning.

Other research analysts have also issued research reports about the company. B. Riley restated a buy rating on shares of NorthStar Asset Management Group in a report on Wednesday, November 1st. FBR & Co restated a buy rating on shares of NorthStar Asset Management Group in a report on Tuesday, September 5th. Finally, Zacks Investment Research lowered 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 given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $16.45.

Shares of NorthStar Asset Management Group (NYSE CLNS) traded up $0.03 during trading hours on Wednesday, reaching $12.15. The company’s stock had a trading volume of 3,793,000 shares, compared to its average volume of 3,479,868. The company has a market capitalization of $6,620.76, a price-to-earnings ratio of 50.50 and a beta of 1.50. The company has a current ratio of 4.64, a quick ratio of 4.64 and a debt-to-equity ratio of 0.95. NorthStar Asset Management Group has a 1-year low of $12.05 and a 1-year high of $16.08.

NorthStar Asset Management Group (NYSE:CLNS) last announced its quarterly earnings results on Thursday, November 9th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The business had revenue of $788.90 million for the quarter, compared to analyst estimates of $695.50 million. NorthStar Asset Management Group had a return on equity of 1.88% and a net margin of 5.83%. The company’s revenue was up 271.9% on a year-over-year basis. equities research analysts expect that NorthStar Asset Management Group will post 1.34 earnings per share for the current year.

In related news, CFO Darren J. Tangen sold 200,000 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Colony Northstar, Inc. bought 5,501 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was purchased at an average cost of $5.40 per share, with a total value of $29,705.40. The disclosure for this purchase can be found here. Insiders have purchased 162,024 shares of company stock valued at $1,650,791 over the last ninety days. 7.99% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in NorthStar Asset Management Group 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 worth $27,758,000 after buying an additional 1,130,318 shares during the last quarter. JPMorgan Chase & Co. increased its position in NorthStar Asset Management Group by 79.8% in the third quarter. JPMorgan Chase & Co. now owns 905,809 shares of the real estate investment trust’s stock worth $11,368,000 after buying an additional 402,062 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in NorthStar Asset Management Group in the first quarter worth $10,652,000. Tahithromos L.L.C. purchased a new stake in NorthStar Asset Management Group in the third quarter worth $8,524,000. Finally, Legal & General Group Plc increased its position in NorthStar Asset Management Group by 10.9% in the third quarter. Legal & General Group Plc now owns 564,025 shares of the real estate investment trust’s stock worth $7,085,000 after buying an additional 55,336 shares during the last quarter. 82.30% of the stock is owned by institutional investors and hedge funds.

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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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