Brokerages Set $15.50 Price Target for Colony Credit Real Estate Inc (NYSE:CLNC)

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Colony Credit Real Estate Inc (NYSE:CLNC) has received a consensus broker rating score of 1.50 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy rating and one has given a strong buy rating to the company.

Analysts have set a one year consensus price target of $15.50 for the company and are forecasting that the company will post $0.37 earnings per share for the current quarter, according to Zacks. Zacks has also given Colony Credit Real Estate an industry rank of 185 out of 255 based on the ratings given to related companies.

CLNC has been the topic of several analyst reports. Raymond James decreased their price target on shares of Colony Credit Real Estate from $18.50 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Zacks Investment Research raised shares of Colony Credit Real Estate from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 22nd.

In related news, CFO Neale Redington bought 4,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost of $12.68 per share, with a total value of $53,890.00. Also, Director Darren J. Tangen bought 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $12.68 per share, for a total transaction of $1,141,200.00. Insiders have acquired a total of 170,250 shares of company stock worth $2,112,820 over the last ninety days. 0.28% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Colony Credit Real Estate by 1.2% in the second quarter. Vanguard Group Inc. now owns 7,575,923 shares of the company’s stock worth $117,427,000 after acquiring an additional 90,736 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Colony Credit Real Estate by 1.2% in the third quarter. California State Teachers Retirement System now owns 126,080 shares of the company’s stock worth $1,823,000 after acquiring an additional 1,506 shares during the last quarter. Citadel Advisors LLC boosted its position in shares of Colony Credit Real Estate by 57.6% in the second quarter. Citadel Advisors LLC now owns 52,012 shares of the company’s stock worth $806,000 after acquiring an additional 18,999 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Colony Credit Real Estate by 26.0% in the second quarter. Royal Bank of Canada now owns 52,037 shares of the company’s stock worth $807,000 after acquiring an additional 10,730 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Colony Credit Real Estate by 8.9% in the third quarter. Rhumbline Advisers now owns 133,225 shares of the company’s stock worth $1,926,000 after acquiring an additional 10,863 shares during the last quarter. 27.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE CLNC opened at $13.87 on Monday. Colony Credit Real Estate has a 52 week low of $11.18 and a 52 week high of $17.99. The company’s 50-day moving average price is $13.46 and its 200 day moving average price is $14.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.78 and a quick ratio of 3.78.

The company also recently declared a dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.10 per share. The ex-dividend date was Monday, December 30th. Colony Credit Real Estate’s dividend payout ratio is currently 171.43%.

About Colony Credit Real Estate

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.

Further Reading: Gross Domestic Product (GDP)

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