NorthStar Asset Management Group, Inc. (CLNS) Announces Quarterly Earnings Results
NorthStar Asset Management Group, Inc. (NYSE:CLNS) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33, Briefing.com reports. The firm had revenue of $788.90 million for the quarter, compared to analyst estimates of $695.50 million. NorthStar Asset Management Group had a net margin of 7.95% and a return on equity of 3.04%. NorthStar Asset Management Group’s revenue for the quarter was up 271.9% compared to the same quarter last year.
NorthStar Asset Management Group (NYSE CLNS) traded down $0.14 on Friday, hitting $12.57. 3,186,028 shares of the company were exchanged, compared to its average volume of 3,528,803. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.07 and a quick ratio of 5.07. NorthStar Asset Management Group has a one year low of $12.13 and a one year high of $16.08. The company has a market capitalization of $6,860.00, a price-to-earnings ratio of 24.70 and a beta of 1.49.
In other NorthStar Asset Management Group news, CFO Darren J. Tangen sold 200,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $12.42, for a total value of $2,484,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Colony Northstar, Inc. acquired 119,115 shares of NorthStar Asset Management Group stock in a transaction on Tuesday, October 17th. The stock was acquired at an average price of $9.04 per share, with a total value of $1,076,799.60. The disclosure for this purchase can be found here. 7.99% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on the stock. FBR & Co reissued a “buy” rating and set a $15.00 target price (down from $16.00) on shares of NorthStar Asset Management Group in a research report on Friday, August 11th. ValuEngine cut shares of NorthStar Asset Management Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research downgraded NorthStar Asset Management Group from a “hold” rating to a “sell” rating in a research note on Friday, September 22nd. Finally, B. Riley reissued a “buy” rating on shares of NorthStar Asset Management Group in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $16.45.
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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.
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