Colony Credit Real Estate (NYSE:CLNC) Price Target Cut to $18.00

Colony Credit Real Estate (NYSE:CLNC) had its price objective trimmed by Raymond James to $18.00 in a research report report published on Monday, The Fly reports. They currently have an outperform rating on the stock.

CLNC has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Colony Credit Real Estate from a strong sell rating to a hold rating in a research report on Tuesday, July 16th. ValuEngine upgraded shares of Colony Credit Real Estate from a hold rating to a buy rating in a research report on Tuesday, August 6th. Finally, B. Riley began coverage on shares of Colony Credit Real Estate in a research report on Thursday, June 6th. They issued a buy rating and a $20.00 price target on the stock.

NYSE:CLNC opened at $12.82 on Monday. The firm has a market cap of $1.68 billion, a PE ratio of 18.31 and a beta of 0.45. Colony Credit Real Estate has a 12 month low of $12.54 and a 12 month high of $23.23. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $15.28 and its two-hundred day moving average price is $15.80.

Colony Credit Real Estate (NYSE:CLNC) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.04). The firm had revenue of $23.93 million during the quarter, compared to analyst estimates of $26.45 million. Colony Credit Real Estate had a negative net margin of 269.57% and a positive return on equity of 1.74%. On average, research analysts expect that Colony Credit Real Estate will post 1.17 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Saturday, August 31st will be given a $0.145 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $1.74 dividend on an annualized basis and a yield of 13.57%. Colony Credit Real Estate’s dividend payout ratio (DPR) is presently 248.57%.

A number of large investors have recently added to or reduced their stakes in CLNC. Royal Bank of Canada increased its stake in 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 valued at $807,000 after purchasing an additional 10,730 shares in the last quarter. Susquehanna International Group LLP increased its stake in Colony Credit Real Estate by 393.5% in the second quarter. Susquehanna International Group LLP now owns 55,015 shares of the company’s stock valued at $852,000 after purchasing an additional 43,867 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Colony Credit Real Estate in the second quarter valued at approximately $5,435,000. Wealth & Pension Services Group Inc. increased its stake in Colony Credit Real Estate by 1.2% in the second quarter. Wealth & Pension Services Group Inc. now owns 91,638 shares of the company’s stock valued at $1,420,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in Colony Credit Real Estate by 7,415.9% in the second quarter. Centaurus Financial Inc. now owns 937,985 shares of the company’s stock valued at $14,539,000 after purchasing an additional 925,505 shares in the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

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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