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NRE

Northstar Realty Europe

$12.87

0.14 (1.10%)

, CLNY

Colony Capital

$6.15

-0.04 (-0.65%)

06:28
09/25/18
09/25
06:28
09/25/18
06:28

Senvest Management sends letter to Northstar Realty Europe board

Senvest Management, an investment management firm that advises investment funds that own approximately 9.55% of NorthStar Realty Europe (NRE), sent a letter to the NRE board proposing several potential solutions to the company stock trading at a significant discount to net asset value, or NAV. Specifically, Senvest believes the most significant factor behind NRE's substantial discount to NAV is the company's unjustified and unusual reliance on an external manager, an affiliate of Colony Capital (CLNY), which charges a management fee that further increases the company's expense ratio. To address this issue, Senvest believes that the board should immediately change its "investment guidelines" as established under the terms of the management agreement and begin selling assets and returning the net cash proceeds to investors by way of stock buybacks or dividends. As an alternative to selling NRE assets, Senvest believes CLNY should take the company private at a price at or above the aggregate price that would be received in asset sales and which should represent a valuation close to or potentially greater than NAV.

NRE

Northstar Realty Europe

$12.87

0.14 (1.10%)

CLNY

Colony Capital

$6.15

-0.04 (-0.65%)

  • 25

    Sep

NRE Northstar Realty Europe
$12.87

0.14 (1.10%)

10/04/17
JMPS
10/04/17
INITIATION
Target $16.5
JMPS
Outperform
Northstar Realty Europe Corp. initiated with an Outperform at JMP Securities
JMP Securities analyst Mitch Germain started Northstar Realty Europe Corp. (NRE) with an Outperform rating and $16.50 price target, saying office market conditions within its core markets remain durable and that Colony NorthStar (CLNS) appears committed to this platform and could increase its ownership stake.
10/31/17
10/31/17
INITIATION
Target $17

Buy
Northstar Realty Europe initiated with a Buy at FBR Capital
FBR Capital started Northstar Realty Europe with a Buy rating and $17 price target.
10/31/17
10/31/17
INITIATION
Target $17

Buy
Northstar Realty Europe initiated with a Buy at FBR Capital
FBR Capital analyst David Corak started Northstar Realty Europe with a Buy rating and $17 price target. The company owns a core portfolio of "prime class A office assets" in some of the "healthiest and most liquid markets" in Western Europe, Corak tells investors in a research note.
CLNY Colony Capital
$6.15

-0.04 (-0.65%)

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WES

Western Gas Partners

$49.52

0.38 (0.77%)

, WGP

Western Gas Equity

$32.38

0.2 (0.62%)

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PXD

Pioneer Natural

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2.27 (1.59%)

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ZTS

Zoetis

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2.16 (2.32%)

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JNJ

Johnson & Johnson

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WIN

Windstream

$3.37

0.2 (6.31%)

, UNIT

Uniti Group

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BHVN

Biohaven Pharmaceutical

$45.32

1.36 (3.09%)

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AMGN

Amgen

$188.31

1.6 (0.86%)

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CE

Celanese

$100.19

1.19 (1.20%)

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WIN

Windstream

$3.37

0.2 (6.31%)

, UNIT

Uniti Group

$20.00

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GLD

SPDR Gold Shares

$124.81

0.77 (0.62%)

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MDLZ

Mondelez

$48.17

0.84 (1.77%)

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FN

Fabrinet

$55.23

0.67 (1.23%)

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UBER

Uber

$0.00

(0.00%)

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SPX

S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

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2.93 (1.07%)

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SPDR S&P 500 ETF Trust

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ORCL

Oracle

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0.25 (0.49%)

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SBLK

Star Bulk Carriers

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0.13 (1.61%)

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HOLI

Hollysys

$20.56

0.26 (1.28%)

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  • 17

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AKS

AK Steel

$2.98

-0.015 (-0.50%)

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LPTX

Leap Therapeutics

$1.65

(0.00%)

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MPB

Mid Penn Bancorp

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-0.24 (-1.02%)

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REGN

Regeneron

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, AMGN

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AMGN

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UPS

UPS

$110.89

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DAL

Delta Air Lines

$51.09

0.58 (1.15%)

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UPS

UPS

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