Several things could go right for Colony Northstar Credit Real Estate (CLNC) in coming months: Release of year-end results and conference call will provide an opportunity for the company to introduce itself to investors. $300mm share repurchase plan can begin after results are out. At a price of $20/share, the plan could acquire over 18% … Continue reading Colony Northstar Credit Real Estate Might Not Be A Disaster
The merger of Colony Capital, Northstar Realty, and Northstar Asset Management combined 3 companies with a market cap of about $2Bn into one company whose market cap has fallen to $3Bn. Operating performance has fallen far short of expectations and far short of the partners premerger earnings. Most of the acquired Northstar assets have been … Continue reading Colony Northstar Merger Math 2+2+2=3
The market is giving an initial thumbs down to Colony Northstar's 4Q17 results. A few observations: Book value per share of $12.52 ($6.8Bn common equity, 543mm shares) Tangible book value per share of $8.43 ($6.8Bn common equity, $1.5Bn goodwill, $0.9Bn intangibles, -0.2Bn minority interest intangibles, 543mm shares) $300mm repurchase plan was completed in 4Q so … Continue reading Colony – A Cry For Help, A Hint of Anesthesia
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