B. Riley Weighs in on Northstar Realty Europe Corp’s FY2018 Earnings (NRE)
Northstar Realty Europe Corp (NYSE:NRE) – Analysts at B. Riley lowered their FY2018 earnings estimates for shares of Northstar Realty Europe in a research report issued to clients and investors on Tuesday, November 13th. B. Riley analyst B. Maher now anticipates that the financial services provider will earn $0.92 per share for the year, down from their previous forecast of $0.96. B. Riley currently has a “Neutral” rating and a $18.00 target price on the stock. B. Riley also issued estimates for Northstar Realty Europe’s Q4 2018 earnings at $0.24 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.12 EPS, Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.13 EPS, FY2019 earnings at $0.55 EPS and FY2020 earnings at $0.51 EPS.
A number of other research firms have also weighed in on NRE. JMP Securities boosted their price objective on Northstar Realty Europe from $16.50 to $18.00 and gave the stock a “market outperform” rating in a research note on Tuesday. ValuEngine raised Northstar Realty Europe from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised Northstar Realty Europe from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, August 14th. Finally, TheStreet raised Northstar Realty Europe from a “d” rating to a “c” rating in a research note on Friday, October 19th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.00.
Northstar Realty Europe (NYSE:NRE) last issued its quarterly earnings results on Tuesday, November 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). The firm had revenue of $28.99 million during the quarter, compared to analyst estimates of $30.63 million. Northstar Realty Europe had a return on equity of 8.37% and a net margin of 29.13%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NRE. Centaurus Financial Inc. acquired a new position in Northstar Realty Europe during the second quarter worth $119,000. Tower Research Capital LLC TRC raised its position in Northstar Realty Europe by 305.1% in the second quarter. Tower Research Capital LLC TRC now owns 8,277 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 6,234 shares during the period. PEAK6 Investments LLC purchased a new stake in Northstar Realty Europe in the third quarter valued at $160,000. Aperio Group LLC purchased a new stake in Northstar Realty Europe in the second quarter valued at $174,000. Finally, State of Alaska Department of Revenue purchased a new stake in Northstar Realty Europe in the third quarter valued at $202,000. 66.70% of the stock is currently owned by institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 12th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, November 9th.
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 Capital, Inc (NYSE: CLNY), a leading global equity REIT with an embedded investment management platform.
See Also: Hedge Funds
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