Great Lakes Advisors LLC Purchases New Holdings in Colony Credit Real Estate Inc (CLNC)

Great Lakes Advisors LLC purchased a new position in shares of Colony Credit Real Estate Inc (NYSE:CLNC) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 35,999 shares of the company’s stock, valued at approximately $792,000.

Several other hedge funds also recently bought and sold shares of CLNC. Moneta Group Investment Advisors LLC acquired a new stake in shares of Colony Credit Real Estate during the second quarter worth approximately $102,000. CWM LLC boosted its holdings in shares of Colony Credit Real Estate by 185.4% during the third quarter. CWM LLC now owns 4,891 shares of the company’s stock worth $108,000 after purchasing an additional 3,177 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Colony Credit Real Estate during the second quarter worth approximately $119,000. Bank of Montreal Can boosted its holdings in shares of Colony Credit Real Estate by 1,010.4% during the third quarter. Bank of Montreal Can now owns 6,618 shares of the company’s stock worth $146,000 after purchasing an additional 6,022 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in shares of Colony Credit Real Estate during the third quarter worth approximately $147,000. Institutional investors and hedge funds own 22.22% of the company’s stock.

NYSE CLNC opened at $17.08 on Friday. The company has a quick ratio of 4.48, a current ratio of 4.48 and a debt-to-equity ratio of 0.36. Colony Credit Real Estate Inc has a 12-month low of $16.77 and a 12-month high of $23.23.

Colony Credit Real Estate (NYSE:CLNC) last posted its earnings results on Tuesday, November 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). The business had revenue of $29.96 million during the quarter, compared to analyst estimates of $126.10 million. Colony Credit Real Estate had a net margin of 12.88% and a return on equity of 5.75%. Sell-side analysts anticipate that Colony Credit Real Estate Inc will post 1.39 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 30th will be paid a $0.145 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 10.19%. The ex-dividend date is Thursday, November 29th.

CLNC has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Colony Credit Real Estate from a “strong sell” rating to a “hold” rating in a research note on Monday, October 15th. Raymond James reduced their target price on shares of Colony Credit Real Estate from $23.50 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, November 14th.

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About Colony Credit Real Estate

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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Want to see what other hedge funds are holding CLNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colony Credit Real Estate Inc (NYSE:CLNC).

Institutional Ownership by Quarter for Colony Credit Real Estate (NYSE:CLNC)

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