Northstar Realty Europe (NYSE:NRE) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Northstar Realty Europe (NYSE:NRE) from a buy rating to a hold rating in a report released on Thursday, Zacks.com reports.

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. “

A number of other analysts have also recently weighed in on NRE. B. Riley set a $17.00 price objective on shares of Northstar Realty Europe and gave the stock a hold rating in a research note on Friday, July 5th. JMP Securities lowered shares of Northstar Realty Europe from a mkt outperform rating to a market perform rating in a research report on Friday, July 5th. Finally, TheStreet lowered shares of 22nd Century Group from a c- rating to a d+ rating in a research report on Friday, March 29th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Northstar Realty Europe currently has a consensus rating of Hold and a consensus price target of $18.00.

Shares of Northstar Realty Europe stock opened at $17.01 on Thursday. The business has a fifty day moving average price of $16.37. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.01. Northstar Realty Europe has a 1-year low of $12.50 and a 1-year high of $18.44.

Northstar Realty Europe (NYSE:NRE) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Northstar Realty Europe had a net margin of 202.58% and a return on equity of 6.78%. The business had revenue of $19.17 million during the quarter, compared to analysts’ expectations of $18.85 million. As a group, analysts anticipate that Northstar Realty Europe will post 0.55 EPS for the current year.

A number of hedge funds have recently made changes to their positions in NRE. LS Investment Advisors LLC bought a new position in Northstar Realty Europe during the first quarter worth $25,000. Legacy Bridge LLC bought a new position in Northstar Realty Europe during the first quarter worth $29,000. Arlington Partners LLC bought a new position in Northstar Realty Europe during the second quarter worth $61,000. Quantamental Technologies LLC increased its position in Northstar Realty Europe by 400.5% during the first quarter. Quantamental Technologies LLC now owns 3,999 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 3,200 shares during the period. Finally, FNY Investment Advisers LLC increased its position in Northstar Realty Europe by 666.9% during the first quarter. FNY Investment Advisers LLC now owns 5,000 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 4,348 shares during the period. 64.86% of the stock is currently owned by institutional investors and hedge funds.

About Northstar Realty Europe

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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