Colony Credit Real Estate (CLNC) Cut to “Strong Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Colony Credit Real Estate (NYSE:CLNC) from a hold rating to a strong sell rating in a report released on Wednesday morning.

According to Zacks, “Colony Credit Real Estate Inc. is a commercial real estate credit REIT. It focused on originating, acquiring, financing and managing a diversified portfolio of commercial real estate debt and net lease real estate investments predominantly in the United States. Colony Credit Real Estate Inc., formerly known as Colony NorthStar Credit Real Estate Inc., is based in Los Angeles, United States. “

Colony Credit Real Estate stock opened at $20.09 on Wednesday. Colony Credit Real Estate has a twelve month low of $17.66 and a twelve month high of $22.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.45 and a quick ratio of 6.45.

Colony Credit Real Estate (NYSE:CLNC) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.10). The firm had revenue of $30.13 million during the quarter, compared to analyst estimates of $135.80 million. analysts forecast that Colony Credit Real Estate will post 1.77 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 31st will be given a dividend of $0.145 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date of this dividend is Thursday, August 30th.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new position in shares of Colony Credit Real Estate during the first quarter worth $101,000. Moneta Group Investment Advisors LLC acquired a new position in shares of Colony Credit Real Estate during the second quarter worth $102,000. Flagship Harbor Advisors LLC acquired a new position in shares of Colony Credit Real Estate during the second quarter worth $119,000. UBS Group AG acquired a new position in shares of Colony Credit Real Estate during the first quarter worth $154,000. Finally, Sei Investments Co. acquired a new position in shares of Colony Credit Real Estate during the first quarter worth $176,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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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