Colony Credit Real Estate Inc (NYSE:CLNC) Short Interest Up 20.9% in October

Colony Credit Real Estate Inc (NYSE:CLNC) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,330,000 shares, an increase of 20.9% from the September 30th total of 1,100,000 shares. Based on an average daily volume of 379,100 shares, the days-to-cover ratio is currently 3.5 days. Approximately 1.6% of the company’s shares are short sold.

A number of research firms have recently weighed in on CLNC. ValuEngine raised Colony Credit Real Estate from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Zacks Investment Research raised Colony Credit Real Estate from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. B. Riley set a $19.00 price objective on Colony Credit Real Estate and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Raymond James dropped their price objective on Colony Credit Real Estate to $18.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th.

In related news, CEO Kevin P. Traenkle purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of $11.91 per share, with a total value of $595,500.00. Following the purchase, the chief executive officer now directly owns 224,877 shares in the company, valued at approximately $2,678,285.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.28% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Colony Credit Real Estate by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 7,575,923 shares of the company’s stock worth $117,427,000 after buying an additional 90,736 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Colony Credit Real Estate during the 2nd quarter worth $86,000. Citadel Advisors LLC raised its stake in shares of Colony Credit Real Estate by 57.6% in the 2nd quarter. Citadel Advisors LLC now owns 52,012 shares of the company’s stock valued at $806,000 after purchasing an additional 18,999 shares during the period. Royal Bank of Canada raised its stake in shares of Colony Credit Real Estate by 26.0% in the 2nd quarter. Royal Bank of Canada now owns 52,037 shares of the company’s stock valued at $807,000 after purchasing an additional 10,730 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Colony Credit Real Estate by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 488,227 shares of the company’s stock valued at $7,568,000 after purchasing an additional 8,414 shares during the period. 26.52% of the stock is currently owned by institutional investors and hedge funds.

Colony Credit Real Estate stock traded up $0.54 during mid-day trading on Thursday, hitting $12.31. 565,254 shares of the company’s stock were exchanged, compared to its average volume of 318,627. The firm has a market capitalization of $1.45 billion, a P/E ratio of 17.59 and a beta of 0.63. Colony Credit Real Estate has a fifty-two week low of $11.18 and a fifty-two week high of $19.04. The company has a quick ratio of 4.68, a current ratio of 4.68 and a debt-to-equity ratio of 0.69. The company’s 50 day simple moving average is $13.92 and its 200-day simple moving average is $14.74.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 10th. Investors of record on Saturday, November 30th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 9.75%. The ex-dividend date of this dividend is Wednesday, November 27th. Colony Credit Real Estate’s payout ratio is presently 248.57%.

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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