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Colony Credit Real Estate (NYSE:CLNC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Colony Credit Real Estate (NYSE:CLNC) from a strong sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

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. “

Get Colony Credit Real Estate alerts: Separately, B. Riley set a $2.00 price target on shares of Dynagas LNG Partners and gave the stock a hold rating in a report on Thursday, June 6th.

Shares of Colony Credit Real Estate stock opened at $15.74 on Tuesday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 22.49 and a beta of 0.44. Colony Credit Real Estate has a 12-month low of $15.10 and a 12-month high of $23.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.69 and a current ratio of 4.69. The stock has a fifty day moving average price of $15.56.

Colony Credit Real Estate (NYSE:CLNC) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). The firm had revenue of $21.96 million during the quarter, compared to the consensus estimate of $160.30 million. Colony Credit Real Estate had a positive return on equity of 1.80% and a negative net margin of 138.90%. As a group, sell-side analysts expect that Colony Credit Real Estate will post 1.24 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Friday, August 9th. Shareholders of record on Wednesday, July 31st will be issued a $0.145 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date of this dividend is Tuesday, July 30th. Colony Credit Real Estate’s dividend payout ratio (DPR) is presently 248.57%.

A number of institutional investors have recently made changes to their positions in CLNC. California Public Employees Retirement System lifted its position in shares of Colony Credit Real Estate by 628.3% during the 4th quarter. California Public Employees Retirement System now owns 115,915 shares of the company’s stock worth $1,830,000 after purchasing an additional 100,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of Colony Credit Real Estate by 11.6% during the 4th quarter. BlackRock Inc. now owns 5,590,192 shares of the company’s stock worth $88,268,000 after purchasing an additional 579,041 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Colony Credit Real Estate by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 352,303 shares of the company’s stock worth $5,562,000 after purchasing an additional 5,146 shares during the last quarter. Northern Trust Corp lifted its position in shares of Colony Credit Real Estate by 1.1% during the 4th quarter. Northern Trust Corp now owns 987,424 shares of the company’s stock worth $15,592,000 after purchasing an additional 10,668 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Colony Credit Real Estate by 115.8% during the 4th quarter. Great West Life Assurance Co. Can now owns 8,154 shares of the company’s stock worth $124,000 after purchasing an additional 4,375 shares during the last quarter. 25.45% 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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