Colony Credit Real Estate Inc (NYSE:CLNC) Sees Significant Growth in Short Interest

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Colony Credit Real Estate Inc (NYSE:CLNC) was the target of a large growth in short interest in November. As of November 29th, there was short interest totalling 1,730,000 shares, a growth of 41.8% from the November 14th total of 1,220,000 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 463,500 shares, the days-to-cover ratio is currently 3.7 days.

In other news, CEO Kevin P. Traenkle bought 50,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $11.91 per share, with a total value of $595,500.00. Following the acquisition, the chief executive officer now directly owns 224,877 shares in the company, valued at $2,678,285.07. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Neale Redington bought 4,250 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was purchased at an average cost of $12.68 per share, for a total transaction of $53,890.00. Insiders acquired a total of 170,250 shares of company stock valued at $2,112,820 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Squar Milner Financial Services LLC bought a new stake in shares of Colony Credit Real Estate during the 3rd quarter valued at approximately $29,000. Aperio Group LLC bought a new stake in shares of Colony Credit Real Estate during the 2nd quarter valued at approximately $30,000. Crewe Advisors LLC grew its holdings in shares of Colony Credit Real Estate by 69.7% during the 2nd quarter. Crewe Advisors LLC now owns 2,684 shares of the company’s stock valued at $42,000 after purchasing an additional 1,102 shares during the last quarter. US Bancorp DE bought a new stake in shares of Colony Credit Real Estate during the 2nd quarter valued at approximately $53,000. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Colony Credit Real Estate during the 2nd quarter valued at approximately $86,000. 27.48% of the stock is currently owned by institutional investors.

CLNC stock opened at $13.56 on Thursday. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.86. Colony Credit Real Estate has a 12 month low of $11.18 and a 12 month high of $17.99. The firm has a market cap of $1.78 billion, a P/E ratio of 19.37 and a beta of 0.57. The company’s 50-day moving average price is $13.46 and its two-hundred day moving average price is $14.40.

The business also recently declared a monthly dividend, which was paid on Tuesday, December 10th. Investors of record on Saturday, November 30th were issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.85%. The ex-dividend date of this dividend was Wednesday, November 27th. Colony Credit Real Estate’s dividend payout ratio (DPR) is presently 171.43%.

Several equities analysts have commented on the stock. B. Riley set a $19.00 target price on shares of Colony Credit Real Estate and gave the company a “buy” rating in a report on Wednesday, August 21st. Raymond James decreased their target price on shares of Colony Credit Real Estate to $18.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Zacks Investment Research raised shares of Colony Credit Real Estate from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 22nd.

Colony Credit Real Estate Company Profile

Colony Credit Real Estate, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States. It focuses on originating, acquiring, financing, and managing a portfolio of CRE senior mortgage loans, mezzanine loans, preferred equity, debt securities, and net leased properties.

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