Mackenzie Financial Corp grew its position in Colony NorthStar Inc (NYSE:CLNS) by 31.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,033 shares of the real estate investment trust’s stock after buying an additional 6,279 shares during the period. Mackenzie Financial Corp’s holdings in Colony NorthStar were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Opus Capital Group LLC bought a new stake in shares of Colony NorthStar in the 4th quarter worth approximately $114,000. American International Group Inc. bought a new stake in shares of Colony NorthStar in the 4th quarter worth approximately $128,000. Lourd Capital LLC bought a new stake in shares of Colony NorthStar in the 4th quarter worth approximately $242,000. Syntal Capital Partners LLC bought a new stake in shares of Colony NorthStar in the 4th quarter worth approximately $259,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Colony NorthStar in the 4th quarter worth approximately $287,000. Institutional investors own 82.02% of the company’s stock.
Colony NorthStar Inc (CLNS) opened at $5.95 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 5.14 and a current ratio of 5.14. Colony NorthStar Inc has a 52-week low of $5.28 and a 52-week high of $14.74.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.44 annualized dividend and a dividend yield of 7.39%. Colony NorthStar’s dividend payout ratio (DPR) is presently -171.43%.
CLNS has been the subject of a number of research reports. JMP Securities upgraded Colony NorthStar from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research report on Friday, January 5th. Zacks Investment Research downgraded Colony NorthStar from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. B. Riley reiterated a “buy” rating and issued a $15.00 price objective on shares of Colony NorthStar in a research report on Monday, January 22nd. ValuEngine downgraded Colony NorthStar from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price objective on shares of Colony NorthStar in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $12.00.
In related news, Vice Chairman David T. Hamamoto sold 805,174 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $12.15, for a total transaction of $9,782,864.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David T. Hamamoto sold 2,225,909 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $12.09, for a total value of $26,911,239.81. The disclosure for this sale can be found here. Insiders have sold a total of 3,493,363 shares of company stock valued at $42,260,703 in the last 90 days. 7.99% of the stock is owned by corporate insiders.
Colony NorthStar Profile
Colony NorthStar, Inc is a diversified equity real estate investment trust (REIT). The Company combines a portfolio of real assets across the world, which are managed with a global real estate investment manager. The Company has property holdings in the healthcare, industrial and hospitality sectors, opportunistic equity and debt investments, and an embedded institutional and retail investment management business.
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