Brokerages Set $20.50 Target Price for Colony Credit Real Estate Inc (NYSE:CLNC)

Colony Credit Real Estate Inc (NYSE:CLNC) has received a consensus broker rating score of 1.50 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and one has issued a strong buy rating on the company. Colony Credit Real Estate’s rating score has improved by 25% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 1 year consensus price target of $20.50 for the company and are predicting that the company will post $0.32 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Colony Credit Real Estate an industry rank of 229 out of 256 based on the ratings given to related companies.

CLNC has been the topic of a number of analyst reports. Raymond James decreased their target price on shares of Colony Credit Real Estate from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 6th. Zacks Investment Research downgraded shares of Colony Credit Real Estate from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 8th. Finally, B. Riley started coverage on shares of Colony Credit Real Estate in a research note on Thursday, June 6th. They set a “buy” rating and a $20.00 price target on the stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Colony Credit Real Estate by 11.6% in the 4th quarter. BlackRock Inc. now owns 5,590,192 shares of the company’s stock valued at $88,268,000 after acquiring an additional 579,041 shares during the period. FMR LLC raised its stake in shares of Colony Credit Real Estate by 48.4% in the 4th quarter. FMR LLC now owns 1,353,073 shares of the company’s stock valued at $21,365,000 after acquiring an additional 441,450 shares during the period. Northern Trust Corp raised its stake in shares of Colony Credit Real Estate by 1.1% in the 4th quarter. Northern Trust Corp now owns 987,424 shares of the company’s stock valued at $15,592,000 after acquiring an additional 10,668 shares during the period. Geode Capital Management LLC raised its stake in shares of Colony Credit Real Estate by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 904,317 shares of the company’s stock valued at $14,279,000 after acquiring an additional 48,603 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Colony Credit Real Estate by 12.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 557,406 shares of the company’s stock valued at $8,729,000 after acquiring an additional 61,727 shares during the period. 26.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of CLNC stock traded up $0.09 during trading on Wednesday, hitting $15.65. 158,986 shares of the stock traded hands, compared to its average volume of 279,052. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 22.36 and a beta of 0.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.69 and a quick ratio of 4.69. The firm’s fifty day moving average price is $15.59. Colony Credit Real Estate has a 52-week low of $15.10 and a 52-week high of $23.23.

Colony Credit Real Estate (NYSE:CLNC) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.19). Colony Credit Real Estate had a negative net margin of 138.90% and a positive return on equity of 1.80%. The firm had revenue of $21.96 million for the quarter, compared to analysts’ expectations of $160.30 million. On average, equities analysts forecast that Colony Credit Real Estate will post 1.24 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Sunday, June 30th will be paid a $0.145 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 11.12%. The ex-dividend date is Thursday, June 27th. Colony Credit Real Estate’s dividend payout ratio is presently 248.57%.

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.

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