ClariVest Asset Management LLC Invests $1,306,000 in Colony Financial Inc. (CLNY)
ClariVest Asset Management LLC bought a new stake in shares of Colony Financial Inc. (NYSE:CLNY) during the second quarter, Holdings Channel reports. The institutional investor bought 85,100 shares of the company’s stock, valued at approximately $1,306,000.
A number of other large investors have also recently modified their holdings of CLNY. TIAA CREF Investment Management LLC increased its stake in shares of Colony Financial by 7.7% in the first quarter. TIAA CREF Investment Management LLC now owns 529,844 shares of the company’s stock valued at $8,885,000 after buying an additional 37,754 shares during the period. Prudential Financial Inc. increased its stake in shares of Colony Financial by 99.6% in the first quarter. Prudential Financial Inc. now owns 410,053 shares of the company’s stock valued at $6,877,000 after buying an additional 204,600 shares during the period. BlackRock Inc. increased its stake in shares of Colony Financial by 329.0% in the first quarter. BlackRock Inc. now owns 12,993 shares of the company’s stock valued at $218,000 after buying an additional 9,964 shares during the period. BlackRock Group LTD increased its stake in shares of Colony Financial by 101.2% in the first quarter. BlackRock Group LTD now owns 118,606 shares of the company’s stock valued at $1,989,000 after buying an additional 59,667 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Colony Financial by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,590,567 shares of the company’s stock valued at $60,214,000 after buying an additional 144,707 shares during the period. Institutional investors and hedge funds own 96.58% of the company’s stock.
Colony Financial Inc. (NYSE:CLNY) traded up 0.28% during midday trading on Thursday, hitting $18.01. 366,274 shares of the stock were exchanged. The firm’s 50-day moving average price is $18.18 and its 200 day moving average price is $17.54. Colony Financial Inc. has a 1-year low of $14.73 and a 1-year high of $22.18. The firm has a market capitalization of $2.05 billion, a P/E ratio of 17.45 and a beta of 0.83.
Colony Financial (NYSE:CLNY) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.23. Colony Financial had a net margin of 16.89% and a return on equity of 3.09%. During the same period in the prior year, the business posted $0.44 earnings per share. Analysts expect that Colony Financial Inc. will post $2.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date is Wednesday, September 28th. Colony Financial’s payout ratio is 166.67%.
CLNY has been the subject of several research reports. Zacks Investment Research downgraded shares of Colony Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Wedbush initiated coverage on shares of Colony Financial in a research report on Wednesday, October 5th. They set an “outperform” rating and a $26.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $24.20.
About Colony Financial
Colony Capital, Inc, formerly Colony Financial, Inc, is a global real estate and investment management company. The Company operates through five segments: Real Estate Equity, including Light industrial real estate assets and operating platform; Single-family residential rentals through an investment in Colony Starwood Homes and Other real estate equity investments; Real Estate Debt, which includes loan originations and acquisitions, and Investment Management, which includes investment management of the Company-sponsored funds and other investment vehicles.
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