LPL Financial LLC Reduces Position in Colony NorthStar (CLNS)

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LPL Financial LLC lowered its stake in Colony NorthStar (NYSE:CLNS) by 23.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 328,797 shares of the real estate investment trust’s stock after selling 99,132 shares during the quarter. LPL Financial LLC owned 0.06% of Colony NorthStar worth $1,848,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CLNS. GWM Advisors LLC purchased a new stake in Colony NorthStar in the first quarter worth approximately $100,000. MANA Advisors LLC purchased a new stake in Colony NorthStar in the fourth quarter worth approximately $121,000. SG Americas Securities LLC purchased a new stake in Colony NorthStar in the first quarter worth approximately $123,000. Ellington Management Group LLC purchased a new stake in Colony NorthStar in the fourth quarter worth approximately $126,000. Finally, American International Group Inc. purchased a new stake in Colony NorthStar in the fourth quarter worth approximately $128,000. Institutional investors own 83.31% of the company’s stock.

Several brokerages have recently weighed in on CLNS. ValuEngine cut shares of Colony NorthStar from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of Colony NorthStar from a “strong sell” rating to a “hold” rating and set a $6.75 price target on the stock in a research note on Monday, May 7th. TheStreet cut shares of Colony NorthStar from a “c-” rating to a “d+” rating in a research note on Wednesday, March 14th. Finally, B. Riley dropped their price target on shares of Colony NorthStar from $12.50 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Colony NorthStar currently has a consensus rating of “Buy” and a consensus price target of $11.25.

Shares of Colony NorthStar stock opened at $6.41 on Thursday. Colony NorthStar has a 1-year low of $5.28 and a 1-year high of $14.74. The company has a current ratio of 3.68, a quick ratio of 3.68 and a debt-to-equity ratio of 1.04.

Colony NorthStar (NYSE:CLNS) last issued its quarterly earnings results on Thursday, May 10th. The real estate investment trust reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.25). The business had revenue of $666.66 million for the quarter, compared to analysts’ expectations of $676.48 million. Colony NorthStar had a negative return on equity of 2.42% and a negative net margin of 9.27%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. sell-side analysts forecast that Colony NorthStar will post 0.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.44 annualized dividend and a dividend yield of 6.86%.

About Colony NorthStar

Colony NorthStar, Inc (NYSE:CLNS) is a leading global real estate and investment management firm. The Company resulted from the January 2017 merger between Colony Capital, Inc, NorthStar Asset Management Group Inc and NorthStar Realty Finance Corp. The Company has significant property holdings in the healthcare, industrial and hospitality sectors, other equity and debt investments and an embedded institutional and retail investment management business.

Institutional Ownership by Quarter for Colony NorthStar (NYSE:CLNS)

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