Dallas, Texas 12/16/2013 (FINANCIALSTRENDS) – Northstar Realty Finance Corp. (NYSE:NRF) is a real estate investment trust which has garnered a market cap of $2.84 billion. This fund operates under the guidance of David Hamamoto who heads the fund as Chairman of the Board and Chief Executive Officer. It operates by acquiring and managing real estate properties in the form of debt, securities.
Northstar Realty Finance Corp. (NYSE:NRF) has managed to post a steady 18 percent increase in market value during trading last week and by an even more impressive 32 percent in the past one quarter of trading. In the past one year the investors in this REIT have managed to post a super impressive 98 percent along with the strong 7.08 percent dividend yield. It has paid out dividend of $0.84 per share over the trailing 12 months.
This surge in the market confidence in Northstar Realty Finance Corp. (NYSE:NRF) has been happening on the back of strong quarter results which were announced earlier last month. It was able to report quarter on quarter sales increase of 25.9 percent and equally impressive earnings per share of 39.3 percent in the small quarter. At current appreciated price points the stock has been trading at price points which are just 1.17 percent below its prior 52 week high price point.
The surge in the stock was accomplished on the back of announcement of public offering of close to 50 million shares of common stock being priced at $11.65 per share. It has also offered 30 day option period in which its underwriters can buy out additional 7.5 million shares in the event of over subscription of the public offer. The stock offer will be ending on December 17 of this year and the consortium of banks led by UBS Investment Bank