Colony Credit Real Estate (CLNC) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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Colony Credit Real Estate (NYSE:CLNC) released its earnings results on Tuesday. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05), MarketWatch Earnings reports. The company had revenue of $29.96 million for the quarter, compared to analyst estimates of $126.10 million.

NYSE:CLNC traded down $0.06 during mid-day trading on Wednesday, hitting $19.91. The company’s stock had a trading volume of 13,995 shares, compared to its average volume of 261,263. Colony Credit Real Estate has a fifty-two week low of $17.66 and a fifty-two week high of $23.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.73 and a quick ratio of 6.73.

The business also recently announced a monthly dividend, which will be paid on Friday, November 9th. Investors of record on Wednesday, October 31st will be paid a $0.145 dividend. This represents a $1.74 annualized dividend and a dividend yield of 8.74%. The ex-dividend date of this dividend is Tuesday, October 30th.

Separately, Zacks Investment Research cut shares of Colony Credit Real Estate from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th.

A number of large investors have recently bought and sold shares of CLNC. BlackRock Inc. acquired a new position in Colony Credit Real Estate in the second quarter worth about $84,371,000. Centaurus Financial Inc. raised its position in Colony Credit Real Estate by 288.5% in the second quarter. Centaurus Financial Inc. now owns 494,687 shares of the company’s stock worth $10,255,000 after purchasing an additional 367,363 shares in the last quarter. Millennium Management LLC acquired a new position in Colony Credit Real Estate in the first quarter worth about $6,834,000. FMR LLC raised its position in Colony Credit Real Estate by 49.8% in the second quarter. FMR LLC now owns 1,054,471 shares of the company’s stock worth $21,859,000 after purchasing an additional 350,731 shares in the last quarter. Finally, Capital Wealth Management LLC acquired a new position in Colony Credit Real Estate in the second quarter worth about $6,037,000. 17.17% of the stock is owned by hedge funds and other institutional investors.

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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.

Read More: Earnings Reports

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