Colony Capital to hold virtual investor day » 10:5506/2206/22/21
Three new option listings and four option delistings on June 22nd » 08:3006/2206/22/21
DBRG, LVOX, MYPS, ACAC, CATM, CLNY, CRSA
New option listings for…
New option listings for June 22nd include DigitalBridge Group Inc (Class A Stock) (DBRG), LiveVox Holding Inc (Class A Stock) (LVOX), and PLAYSTUDIOS Inc (Class A Stock) (MYPS). Option delistings effective June 22nd include Acies Acquisition Corporation (Class A Stock) (ACAC), Cardtronics PLC (Class A Stock) (CATM), Colony Capital Inc (CLNY), and Crescent Acquisition Corporation (Class A Stock) (CRSA).
Colony Capital to hold virtual investor day » 04:5506/2206/22/21
Colony Capital to hold virtual investor day » 16:4906/2106/21/21
Fly Intel: Top five analyst initiations » 09:5306/2106/21/21
FLYW, FIGS, MARA, CLNY, ZIP
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Flywire (FLYW) initiated with a Buy at Goldman Sachs, Guggenheim and BofA and initiated with an Outperform at RBC Capital, William Blair and Raymond James. 2. Figs (FIGS) initiated with a Buy at BofA, an Outperform at Telsey Advisory, Oppenheimer and Cowen, initiated with an Overweight at Barclays and KeyBanc, a Neutral at Goldman Sachs and an Equal Weight at Morgan Stanley. 3. Marathon Digital (MARA) initiated with a Buy at Compass Point. 4. Colony Capital (CLNY) initiated with an Overweight at Wells Fargo. 5. ZipRecruiter (ZIP) initiated with an Outperform at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Colony Capital initiated with an Overweight at Wells Fargo » 06:3306/2106/21/21
Wells Fargo analyst Eric…
Wells Fargo analyst Eric Luebchow initiated coverage of Colony Capital (CLNY), soon to be DigitalBridge (DBRG), with an Overweight rating and $9.25 price target. Colony is possibly the "most differentiated platform today serving the full spectrum of digital infrastructure," including data centers and macro towers, Luebchow tells investors in a research note. The company is "quickly shifting" to a recurring revenue model through both its operating and Digital IM platforms, says the analyst. He believes the company provides a way to play the convergence of communications infrastructure and sees "significant upside" to its 2023 guidance.
|Over a week ago|
Colony Capital to rebrand as DigitalBridge » 16:5306/1606/16/21
"Colony Capital announced that the Company will be holding its inaugural Investor Day virtually on Tuesday, June 22. During the virtual event, investors will get exposure to the broadest, deepest team in digital infrastructure as the Company shares its strategic priorities, including: Next Chapter as DigitalBridge: Reflecting the significant business transformation the Company has undergone, Colony Capital will rebrand as DigitalBridge and begin trading under a new ticker DBRG, effective June 22, 2021 and will provide more background on the new name, rebrand and logo," said the firm in a statement.
Colony Capital announces corporate rebranding, to change name and symbol » 08:4206/0806/08/21
Colony Capital announced…
Colony Capital announced a corporate rebranding of the company to DigitalBridge, effective June 22. Digital Colony, the company's digital infrastructure investment platform, will also change to operate under the DigitalBridge brand. In connection with the transition, the corporate name will be changed to DigitalBridge Group, and the company will begin trading under a new NYSE ticker symbol, (DBRG), as of June 22. The company said, "The new name reflects the significant business transformation the Company has undergone since the leadership and board of directors made the bold decision to chart a new direction - years ago - realigning a diversified real estate investment firm to focus exclusively on the fast-growing digital infrastructure sector. The 'new' name, DigitalBridge, re-establishes and renews the original Digital Bridge, which combined with the Company in 2019, evoking its heritage as an early innovator in digital infrastructure, while looking forward to a fully digital, interconnected future." The company intends to share more information about its strategy and rebranding, including a new logo at its inaugural Investor Day, to be held on June 22.
Colony Capital announces sale of other equity & debt portfolio » 08:3606/0706/07/21
Colony Capital (CLNY)…
Colony Capital (CLNY) announced it has reached an agreement to sell the bulk of its OED portfolio of real estate assets to Fortress Investment Group a leading, diversified global investment manager, for gross proceeds of $535M. The OED Portfolio Sale proceeds are in line with the net equity carrying value of the underlying assets as of March 31. The OED Portfolio Sale advances several of the Company's stated strategic goals Boost Digital Firepower - Over half-billion dollars of capital available to fuel high-quality digital investments, harvested at levels in line with net carrying values Simplification - Substantial reduction in organizational complexity generates estimated overhead cost savings of over $18M allows enhanced focus on digital, and simplifies investor analysis Enhance Liquidity, Reduce Leverage - The OED Portfolio Sale increases corporate liquidity to over $1.2 billion on a pro forma basis, while at the same time reducing consolidated investment-level debt by $945 million "This transaction is a watershed moment for us, a big step towards our Finish-The-Mission goal as we rotate to a fully-digital business. Not only are we freeing up over a half-billion dollars to redeploy into digital, we're simplifying our business, making it easier to manage and to understand," said Marc Ganzi, President and CEO of Colony Capital. "Fortress is a world-class organization, so I know these assets will be stewarded in the most responsible way going forward, allowing us to maintain our singular focus on building the most compelling digital infrastructure REIT in the world." "We are thrilled to announce this win-win transaction with Colony," said Fortress Managing Director Noah Shore. "It's a perfect fit with our existing business and our deep wells of experience and expertise in managing highly complex investments across a full range of asset types, structures, industries and geographies." The transaction will result in digital assets under management accounting for 80% of the Company's pro forma AUM, with its Wellness Infrastructure segment and ownership stake in the publicly-listed shares of Colony Credit Real Estate, (CLNC), which are not included in the sale along with a small number of OED assets, constituting its remaining material legacy assets.
Colony Capital resumed with a Buy at B. Riley » 07:2906/0406/04/21
B. Riley analyst Daniel…
B. Riley analyst Daniel Day resumed coverage of Colony Capital with a Buy rating and $11 price target. Colony is in the midst of a dramatic transformation from a diversified commercial real estate asset manager spanning a multitude of sectors to a pure-play digital infrastructure real estate investment trust, Day tells investors in a research note. The analyst has a "high level of confidence that Colony 2.0" is well positioned to outperform peers.