Wedbush assumed coverage on shares of Colony Financial Inc. (NYSE:CLNY) in a research report released on Wednesday morning. The brokerage issued an outperform rating and a $26.00 target price on the stock.
Separately, Zacks Investment Research upgraded shares of Colony Financial from a sell rating to a hold rating in a research report on Monday, September 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Colony Financial currently has an average rating of Buy and a consensus target price of $24.20.
Colony Financial (NYSE:CLNY) opened at 17.81 on Wednesday. The stock has a 50 day moving average price of $18.18 and a 200 day moving average price of $17.51. Colony Financial has a 52-week low of $14.73 and a 52-week high of $22.18. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 17.26 and a beta of 0.83.
Colony Financial (NYSE:CLNY) last released its quarterly earnings results on Monday, August 8th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.23. Colony Financial had a net margin of 16.89% and a return on equity of 3.09%. During the same period in the previous year, the company earned $0.44 EPS. Equities research analysts forecast that Colony Financial will post $2.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.60 annualized dividend and a yield of 8.98%. Colony Financial’s payout ratio is 166.67%.
A number of hedge funds have recently bought and sold shares of CLNY. BNP Paribas Arbitrage SA raised its stake in Colony Financial by 1,087.9% in the third quarter. BNP Paribas Arbitrage SA now owns 54,179 shares of the company’s stock valued at $988,000 after buying an additional 49,618 shares during the last quarter. Sterling Capital Management LLC raised its stake in Colony Financial by 8.1% in the second quarter. Sterling Capital Management LLC now owns 51,053 shares of the company’s stock valued at $783,000 after buying an additional 3,811 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Colony Financial by 8.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 411,486 shares of the company’s stock valued at $6,317,000 after buying an additional 31,628 shares during the last quarter. Virtu Financial LLC acquired a new stake in Colony Financial during the second quarter valued at about $173,000. Finally, Amalgamated Bank raised its stake in Colony Financial by 2.5% in the second quarter. Amalgamated Bank now owns 12,284 shares of the company’s stock valued at $222,000 after buying an additional 299 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.
Colony Financial Company Profile
Colony Capital, Inc, formerly Colony Financial, Inc, is a global real estate and investment management company. The Company operates through five segments: Real Estate Equity, including Light industrial real estate assets and operating platform; Single-family residential rentals through an investment in Colony Starwood Homes and Other real estate equity investments; Real Estate Debt, which includes loan originations and acquisitions, and Investment Management, which includes investment management of the Company-sponsored funds and other investment vehicles.
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