Zacks Investment Research upgraded shares of Northstar Realty Europe (NYSE:NRE) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $19.00 target price on the financial services provider’s stock.
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. “
Separately, TheStreet upgraded Northstar Realty Europe from a c rating to a b rating in a report on Friday, March 29th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Northstar Realty Europe has a consensus rating of Buy and an average target price of $18.33.
Northstar Realty Europe (NYSE:NRE) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Northstar Realty Europe had a return on equity of 6.78% and a net margin of 202.58%. The firm had revenue of $19.17 million during the quarter, compared to the consensus estimate of $18.85 million. As a group, analysts expect that Northstar Realty Europe will post 0.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 13th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.60 annualized dividend and a yield of 3.51%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SEI Investments Co increased its holdings in Northstar Realty Europe by 38.5% in the 1st quarter. SEI Investments Co now owns 9,032 shares of the financial services provider’s stock worth $157,000 after buying an additional 2,511 shares in the last quarter. Jefferies Group LLC bought a new stake in Northstar Realty Europe in the 1st quarter worth about $612,000. Geode Capital Management LLC increased its holdings in Northstar Realty Europe by 6.6% in the 1st quarter. Geode Capital Management LLC now owns 702,738 shares of the financial services provider’s stock worth $12,199,000 after buying an additional 43,619 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Northstar Realty Europe by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 659,276 shares of the financial services provider’s stock worth $11,446,000 after buying an additional 28,131 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Northstar Realty Europe by 5.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,617 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,624 shares in the last quarter. Institutional investors own 64.36% of the company’s stock.
Northstar Realty Europe Company Profile
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 Capital, Inc (NYSE: CLNY), a leading global equity REIT with an embedded investment management platform.
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