Colony Capital Inc (CLNY) Gets a Buy Rating from B.Riley FBR


B.Riley FBR analyst Randy Binner reiterated a Buy rating on Colony Capital Inc (CLNY) today and set a price target of $8. The company’s shares closed last Monday at $4.47, close to its 52-week low of $4.39.

Binner said:

“Following the 2Q19 earnings season, we are updating our outlook for Colony Capital (CLNY —Buy, $8 PT). We have updated our model to adjust for a potential industrial segment sale, accretion from the Digital Bridge deal, cash inflows from the NRE sale, and other items. The many puts and takes leave our probability-adjusted NAV at $7.53. We expect the strategic asset review to be the main investor focus in 2H19 as portions of OED are disposed of—although we have not modeled this yet. Capital freed up from potential industrial and OED sales should put CLNY in position to pay down preferred and debt obligations. We have added a sources and uses schedule to reflect this. We forecast CLNY to cover the 44 cent dividend in 2019, but we now forecast a 38 cent dividend in 2020.”

According to TipRanks.com, Binner is a 5-star analyst with an average return of 11.3% and a 61.4% success rate. Binner covers the Financial sector, focusing on stocks such as Colony Credit Real Estate Inc, Health Insurance Innovations, and Victory Capital Holdings Inc.

Currently, the analyst consensus on Colony Capital Inc is a Moderate Buy with an average price target of $8.

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Based on Colony Capital Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $442 million. In comparison, last year the company had a GAAP net loss of $66.06 million.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLNY in relation to earlier this year.

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Colony Capital, Inc. is a real estate investment trust, which engages in the acquisition and management of properties. It operates through the following segments: Healthcare, Industrial, Hospitality, Colony Credit Real Estate, Inc. (CLNC), Other Equity and Debt, and Investment Management.

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