NorthStar Asset Management Group, Inc. (NYSE:CLNS) has earned a consensus recommendation of “Hold” from the six analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.06.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of NorthStar Asset Management Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. FBR & Co restated a “buy” rating and set a $16.00 price target on shares of NorthStar Asset Management Group in a research note on Monday, May 15th. JMP Securities assumed coverage on shares of NorthStar Asset Management Group in a research note on Friday, March 31st. They set a “market perform” rating on the stock. Finally, Wedbush restated an “outperform” rating and set a $17.25 price target (down from $26.00) on shares of NorthStar Asset Management Group in a research note on Friday, April 21st.
Hedge funds have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. purchased a new stake in NorthStar Asset Management Group during the first quarter worth $118,000. Meadow Creek Investment Management LLC purchased a new stake in NorthStar Asset Management Group during the first quarter worth $118,000. Cowen Prime Services LLC purchased a new stake in NorthStar Asset Management Group during the first quarter worth $130,000. Stifel Financial Corp purchased a new stake in NorthStar Asset Management Group during the first quarter worth $130,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in NorthStar Asset Management Group during the first quarter worth $139,000. 83.09% of the stock is currently owned by institutional investors and hedge funds.
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Shares of NorthStar Asset Management Group (CLNS) traded up 0.07% during midday trading on Friday, reaching $14.40. 893,188 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $14.01 and a 200 day moving average price of $13.91. The firm has a market cap of $7.93 billion, a PE ratio of 205.71 and a beta of 1.53. NorthStar Asset Management Group has a 12 month low of $10.24 and a 12 month high of $16.08.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date is Wednesday, June 28th. This is a positive change from NorthStar Asset Management Group’s previous quarterly dividend of $0.24. NorthStar Asset Management Group’s dividend payout ratio is 900.08%.
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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