Colony Credit Real Estate (NYSE:CLNC) Upgraded by Zacks Investment Research to Buy


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Colony Credit Real Estate (NYSE:CLNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $10.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 16.69% from the company’s previous close.

According to Zacks, “Colony Credit Real Estate Inc. is a commercial real estate credit REIT. It focused on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and net lease real estate investments predominantly in the United States. Colony Credit Real Estate Inc., formerly known as Colony NorthStar Credit Real Estate Inc., is based in Los Angeles, United States. “

Several other analysts have also commented on CLNC. BTIG Research initiated coverage on shares of Colony Credit Real Estate in a research note on Tuesday, February 2nd. They set a “neutral” rating for the company. Raymond James restated a “hold” rating on shares of Colony Credit Real Estate in a report on Tuesday, April 6th. Finally, B. Riley restated a “buy” rating on shares of Colony Credit Real Estate in a report on Monday, April 19th.

CLNC stock traded down $0.26 on Tuesday, hitting $8.57. 311,892 shares of the company’s stock traded hands, compared to its average volume of 412,370. Colony Credit Real Estate has a 1-year low of $3.47 and a 1-year high of $9.54. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -4.10 and a beta of 1.82. The stock has a fifty day moving average of $8.66 and a 200-day moving average of $7.81. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.72.

Colony Credit Real Estate (NYSE:CLNC) last released its earnings results on Tuesday, February 23rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). Colony Credit Real Estate had a negative net margin of 232.33% and a positive return on equity of 6.05%. On average, equities research analysts anticipate that Colony Credit Real Estate will post 0.73 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Colony Credit Real Estate by 106.3% during the fourth quarter. JPMorgan Chase & Co. now owns 340,051 shares of the company’s stock valued at $2,550,000 after acquiring an additional 175,202 shares during the period. AdvisorNet Financial Inc increased its stake in Colony Credit Real Estate by 15.3% in the 4th quarter. AdvisorNet Financial Inc now owns 12,911 shares of the company’s stock valued at $97,000 after buying an additional 1,716 shares during the period. Barclays PLC increased its stake in Colony Credit Real Estate by 60.9% in the 4th quarter. Barclays PLC now owns 127,606 shares of the company’s stock valued at $958,000 after buying an additional 48,286 shares during the period. Rhumbline Advisers increased its stake in Colony Credit Real Estate by 26.9% in the 4th quarter. Rhumbline Advisers now owns 286,856 shares of the company’s stock valued at $2,151,000 after buying an additional 60,802 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Colony Credit Real Estate by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 342,978 shares of the company’s stock valued at $2,572,000 after buying an additional 11,380 shares during the period. Institutional investors and hedge funds own 32.29% of the company’s stock.

Colony Credit Real Estate Company Profile

Colony Credit Real Estate, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States. It focuses on originating, acquiring, financing, and managing a portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.

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