NSAM

NorthStar Asset Management Corp

Finance/Real Estate, Event Driven/Special Sit


Presented:04/20/2016
Price:$12.85
Cap:$2.45B
Current Price:$15.45
Cap:$2.66B

Presented

Date04/20/2016
Price$12.85
Market Cap$2.45B
Ent Value$2.29B
P/E Ratio21.07x
Book Value$0.94
Div Yield0.03%
Shares O/S190.43M
Ave Daily Vol2,151,287
Short Int2.24%

Current

Price$15.45
Market Cap$2.66B
Northstar Asset Management Group, Inc. provides asset management services. It focuses on strategically managing real estate investment platforms in the United States and internationally. The company was founded on December 10, 2013 and is headquartered in New York, NY

Publicly traded companies mentioned herein: NorthStar Asset Management Group Inc (NSAM), NorthStar Realty Finance Corp (NRF) 

Highlights

The presenter is long shares of NorthStar Asset Management (NSAM), stating that the complexity of the situation with NorthStar Realty Finance (NRF) has made for an interesting situation. He states that he is “making a bet” that NSAM and NRF will combine in some fashion, and thinks NSAM is an attractive “discount to NAV” story due to activist involvement and the fact that a strategic process is already underway. Assuming a process successfully concludes, the presenter thinks the NAV discount can shrink from 50% to 25%, and the share price of the consolidated company would appreciate to ~$20 as a result.

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Idea Discussion

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