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why CLNS up over 4% ?This is the only info, I could find on CLNS today Colony NorthStar Inc (NYSE:CLNS) Who Bought Shares: Director John Somers How Many Shares Were Bought: 2,000 @ $5.66 per share Date of the Transaction(s): March 29 Lastly is Colony NorthStar Inc (NYSE:CLNS), in which Director John Somers purchased 2,000 shares on March 29, lifting his stake in the REIT to 45,960 shares. The purchase comes less than a month after four other insiders made purchases in early-March following the stock’s latest implosion on March 1. Colony NorthStar Inc (NYSE:CLNS) shares have been crushed in 2018, shedding nearly half of their value. Why Colony NorthStar Inc (NYSE:CLNS)’s Dividend Cut Was the Right Move: The mass exodus from the stock has been sparked by disappointing 2017 results and a massively slashed quarterly dividend, which the company cut to $0.11 per share from $0.27 per share. However, given shares’ recent freefall, the stock’s dividend yield is not far off where it began the year, and the savings could allow Colony NorthStar to instead buy back shares on the cheap, which could ultimately prove to be a far more effective use of that capital. That’s exactly what the company plans to do, with the intent being to further deleverage and buy back shares in 2018, with those goals being further augmented by the sale of several non-core assets. President and CEO Richard Saltzman declared in a press release that the company expects to grow its dividend again in the future. |
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Msg # | Subject | Author | Recs | Date Posted |
6789 | Re: why CLNS up over 4% ? | dar200 | 0 | 4/24/2018 12:22:49 PM |