Northstar Realty Europe Corp (NRE) Stake Decreased by Overbrook Management Corp
Overbrook Management Corp lowered its position in Northstar Realty Europe Corp (NYSE:NRE) by 47.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 741,062 shares of the financial services provider’s stock after selling 679,196 shares during the quarter. Northstar Realty Europe comprises about 2.0% of Overbrook Management Corp’s portfolio, making the stock its 17th largest position. Overbrook Management Corp owned 1.45% of Northstar Realty Europe worth $10,738,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC increased its holdings in Northstar Realty Europe by 47.6% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 28,187 shares of the financial services provider’s stock worth $408,000 after acquiring an additional 9,089 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Northstar Realty Europe in the 2nd quarter worth $463,000. LMR Partners LLP purchased a new stake in Northstar Realty Europe in the 2nd quarter worth $290,000. TCW Group Inc. increased its holdings in Northstar Realty Europe by 1,876.5% in the 2nd quarter. TCW Group Inc. now owns 317,921 shares of the financial services provider’s stock worth $4,606,000 after acquiring an additional 301,836 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Northstar Realty Europe in the 2nd quarter worth $376,000. 73.97% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Northstar Realty Europe from a “sell” rating to a “hold” rating in a report on Saturday, June 23rd. ValuEngine lowered shares of Northstar Realty Europe from a “buy” rating to a “hold” rating in a report on Monday, May 14th. Finally, B. Riley set a $17.00 price target on shares of Northstar Realty Europe and gave the stock a “buy” rating in a report on Monday, May 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $16.63.
Northstar Realty Europe (NYSE:NRE) last issued its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $31.01 million during the quarter, compared to analysts’ expectations of $32.37 million. Northstar Realty Europe had a return on equity of 8.27% and a net margin of 22.39%. equities research analysts predict that Northstar Realty Europe Corp will post 0.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Investors of record on Monday, August 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Friday, August 10th.
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 NorthStar, Inc (NYSE: CLNS), a leading global equity REIT with an embedded investment management platform.
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