NorthStar Realty Europe (NRE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of NorthStar Realty Europe (NYSE:NRE) from a hold rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Northstar Realty Europe Corp. is a real estate investment trust which focused commercial real estate. It operates primarily in Berlin, Frankfurt, Hamburg, London, Paris, Amsterdam, Milan, Brussels and Madrid. Northstar Realty Europe Corp. is based in New York. “

A number of other equities research analysts have also issued reports on NRE. B. Riley reissued a buy rating on shares of NorthStar Realty Europe in a report on Friday, March 9th. ValuEngine raised shares of NorthStar Realty Europe from a hold rating to a buy rating in a research report on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. NorthStar Realty Europe currently has an average rating of Hold and a consensus target price of $16.38.

Shares of NorthStar Realty Europe opened at $13.80 on Wednesday, MarketBeat Ratings reports. NorthStar Realty Europe has a 12-month low of $10.08 and a 12-month high of $14.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.05 and a quick ratio of 0.06.

NorthStar Realty Europe (NYSE:NRE) last announced its quarterly earnings results on Thursday, May 10th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $33.57 million during the quarter, compared to the consensus estimate of $32.86 million. NorthStar Realty Europe had a positive return on equity of 8.12% and a negative net margin of 12.85%. equities analysts anticipate that NorthStar Realty Europe will post 0.91 earnings per share for the current fiscal year.

NorthStar Realty Europe announced that its board has approved a stock buyback program on Tuesday, March 13th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Monday, May 21st will be given a $0.15 dividend. The ex-dividend date is Friday, May 18th. This represents a $0.60 annualized dividend and a dividend yield of 4.35%.

Large investors have recently bought and sold shares of the company. Deutsche Bank AG lifted its position in shares of NorthStar Realty Europe by 128.2% in the 4th quarter. Deutsche Bank AG now owns 229,005 shares of the financial services provider’s stock worth $3,074,000 after purchasing an additional 128,671 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of NorthStar Realty Europe in the 4th quarter worth about $241,000. Wells Fargo & Company MN lifted its position in shares of NorthStar Realty Europe by 13.5% in the 3rd quarter. Wells Fargo & Company MN now owns 131,161 shares of the financial services provider’s stock worth $1,681,000 after purchasing an additional 15,644 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of NorthStar Realty Europe in the 4th quarter worth about $277,000. Finally, Geode Capital Management LLC lifted its position in shares of NorthStar Realty Europe by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 527,437 shares of the financial services provider’s stock worth $7,083,000 after purchasing an additional 9,600 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

About NorthStar Realty Europe

NorthStar Realty Europe Corp. is a European focused commercial real estate company with predominately prime office properties within key cities in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony NorthStar, Inc (NYSE: CLNS), a leading global equity REIT with an embedded investment management platform.

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