NRF
Northstar Realty Finance Corp.
Finance/Real Estate
12/18/2013
Presented
| Date | 12/16/2013 |
| Price | $94.88 |
| Market Cap | $2.84B |
| Ent Value | $2.84B |
| P/E Ratio | N/A |
| Book Value | $80.48 |
| Div Yield | 8.3% |
| Shares O/S | 29.97M |
| Ave Daily Vol | 562,500 |
| Short Int | 15.39% |
Current
| Price | $16.13 |
| Market Cap | $2.92B |
| NorthStar Realty Finance Corp., a real estate investment trust (REIT), operates as a commercial real estate (CRE) investment and asset management company in the United States. It focuses on originating, structuring, acquiring, and managing senior and subordinate debt investments secured primarily by commercial, multifamily, and healthcare properties, which include first mortgage loans, subordinate mortgage interests, mezzanine loans, credit tenant loans, and other loans, such as preferred equity interests in borrowers who own such properties. The company's net lease properties primarily include office, industrial, and retail properties leased under net leases to corporate tenants; and healthcare properties focusing on mid-acuity facilities, such as skilled nursing and assisted living facilities leased under net leases to healthcare operators; and manufactured housing communities. Its asset management business focuses on commercial real estate related activities, such as sponsoring and advising its sponsored REITs; and managing and advising its collateralized debt obligation financing transactions. NorthStar Realty Finance Corp. also invests in CRE securities, including CMBS, unsecured REIT debt, and CDO notes backed primarily by CRE securities and CRE debt. The company has elected to be taxed as a REIT and it would not be subject to federal income tax, provided it distributes at least 90% of its taxable income to its shareholders. NorthStar Realty Finance Corp. was founded in 1997 and is headquartered in New York, New York. |
Please note, this stock split on 7/1/2014 at a ratio of 1/4 and again on 10/25/15 at a ratio of 1/2. The presented data has been updated to account for the change, however, the text of the note may refer to data based on the original presented price of $11.86.
Highlights
Shares of NRF recently soared more than 15% on news that the company is planning to spin off an asset management business, potentially making it look like Altisource (AAMC), which has had a monster run this year. An internally-managed commercial REIT growing its portfolio of non-traded REITs, the presenter sees a meaningful monetization opportunity in converting to an externally-managed structure.
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