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Northstar Realty Europe

NYSE:NRE
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NRE
NYSE
$866M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

NorthStar Realty Europe Corp. is a European focused commercial real estate company with predominately prime office properties within key cities in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony Capital, Inc. The last earnings update was 12 days ago. More info.


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NRE Share Price and Events
7 Day Returns
-1.5%
NYSE:NRE
1.8%
US REITs
-0.7%
US Market
1 Year Returns
24.3%
NYSE:NRE
16.3%
US REITs
3%
US Market
NRE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Northstar Realty Europe (NRE) -1.5% -2% -1.4% 24.3% 54.3% -
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • NRE outperformed the REITs industry which returned 16.3% over the past year.
  • NRE outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
NRE
Industry
5yr Volatility vs Market

NRE Value

 Is Northstar Realty Europe undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Northstar Realty Europe to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Northstar Realty Europe.

NYSE:NRE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:NRE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (76.56%))
0.901
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.901 * 5.96%)
8.1%

Discounted Cash Flow Calculation for NYSE:NRE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Northstar Realty Europe is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:NRE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.1%)
2019 21.95 Est @ -4.11% 20.30
2020 21.50 Est @ -2.06% 18.40
2021 21.36 Est @ -0.62% 16.91
2022 21.45 Est @ 0.38% 15.71
2023 21.68 Est @ 1.09% 14.69
2024 22.02 Est @ 1.58% 13.80
2025 22.45 Est @ 1.93% 13.01
2026 22.93 Est @ 2.17% 12.30
2027 23.47 Est @ 2.34% 11.64
2028 24.04 Est @ 2.45% 11.04
Present value of next 10 years cash flows $147.80
NYSE:NRE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $24.04 × (1 + 2.73%) ÷ (8.1% – 2.73%)
$460.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $460.02 ÷ (1 + 8.1%)10
$211.12
NYSE:NRE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $147.80 + $211.12
$358.92
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $358.92 / 50.63
$7.09
NYSE:NRE Discount to Share Price
Calculation Result
Value per share (USD) From above. $7.09
Current discount Discount to share price of $17.11
= -1 x ($17.11 - $7.09) / $7.09
-141.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Northstar Realty Europe is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Northstar Realty Europe's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Northstar Realty Europe's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:NRE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $4.37
NYSE:NRE Share Price ** NYSE (2019-05-17) in USD $17.11
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Northstar Realty Europe.

NYSE:NRE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NRE Share Price ÷ EPS (both in USD)

= 17.11 ÷ 4.37

3.92x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Northstar Realty Europe is good value based on earnings compared to the US REITs industry average.
  • Northstar Realty Europe is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Northstar Realty Europe's expected growth come at a high price?
Raw Data
NYSE:NRE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-118.6%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:NRE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.92x ÷ -118.6%

-0.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Northstar Realty Europe earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Northstar Realty Europe's assets?
Raw Data
NYSE:NRE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $13.62
NYSE:NRE Share Price * NYSE (2019-05-17) in USD $17.11
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:NRE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NRE Share Price ÷ Book Value per Share (both in USD)

= 17.11 ÷ 13.62

1.26x

* Primary Listing of Northstar Realty Europe.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Northstar Realty Europe is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Northstar Realty Europe's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Northstar Realty Europe has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NRE Future Performance

 How is Northstar Realty Europe expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-118.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Northstar Realty Europe expected to grow at an attractive rate?
  • Northstar Realty Europe's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Northstar Realty Europe's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Northstar Realty Europe's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:NRE Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:NRE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -118.6%
NYSE:NRE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -6.2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:NRE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:NRE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 79 -4 1
2020-12-31 94 -5 2
2019-12-31 76 7 1
NYSE:NRE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 106 23 218
2018-12-31 121 34 206
2018-09-30 125 23 38
2018-06-30 130 25 31
2018-03-31 131 28 -17
2017-12-31 129 22 -31
2017-09-30 128 28 -19
2017-06-30 131 32 -25
2017-03-31 139 27 -48
2016-12-31 149 31 -62
2016-09-30 162 18 -109
2016-06-30 167 -45 -128

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Northstar Realty Europe's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Northstar Realty Europe's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:NRE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Northstar Realty Europe Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NRE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
NYSE:NRE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 4.37
2018-12-31 4.01
2018-09-30 0.72
2018-06-30 0.57
2018-03-31 -0.31
2017-12-31 -0.57
2017-09-30 -0.34
2017-06-30 -0.44
2017-03-31 -0.85
2016-12-31 -1.07
2016-09-30 -1.84
2016-06-30 -2.12

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Northstar Realty Europe will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Northstar Realty Europe's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Northstar Realty Europe has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NRE Past Performance

  How has Northstar Realty Europe performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Northstar Realty Europe's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Northstar Realty Europe has delivered over 20% year on year earnings growth in the past 5 years.
  • Northstar Realty Europe has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Northstar Realty Europe has become profitable in the last year making it difficult to compare the US REITs industry average.
Earnings and Revenue History
Northstar Realty Europe's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Northstar Realty Europe Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NRE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 106.02 218.16 18.28
2018-12-31 120.62 206.12 17.50
2018-09-30 125.08 38.34 13.90
2018-06-30 130.27 31.12 15.68
2018-03-31 131.28 -16.86 15.84
2017-12-31 128.68 -31.13 31.15
2017-09-30 127.72 -18.71 35.90
2017-06-30 131.25 -24.66 37.81
2017-03-31 139.27 -48.12 40.14
2016-12-31 149.49 -61.75 27.33
2016-09-30 162.37 -108.88 19.60
2016-06-30 166.92 -128.05 13.13
2016-03-31 158.58 -155.86 8.17
2015-12-31 119.85 -143.14 4.35
2015-09-30 78.45 -139.25 3.18
2015-06-30 38.45 -111.95 3.20
2015-03-31 9.72 -51.68 4.84
2014-12-31 9.88 -36.64 5.88
2013-12-31 9.87 1.63 0.34

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Northstar Realty Europe has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Northstar Realty Europe used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Northstar Realty Europe improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Northstar Realty Europe's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Northstar Realty Europe has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NRE Health

 How is Northstar Realty Europe's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Northstar Realty Europe's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Northstar Realty Europe is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Northstar Realty Europe's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Northstar Realty Europe's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Northstar Realty Europe Company Filings, last reported 1 month ago.

NYSE:NRE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 682.38 663.24 454.28
2018-12-31 678.10 682.91 441.14
2018-09-30 534.96 1,092.71 69.90
2018-06-30 557.20 1,078.05 58.84
2018-03-31 623.23 1,262.12 57.30
2017-12-31 626.34 1,223.44 71.69
2017-09-30 619.77 1,272.76 57.48
2017-06-30 611.53 1,255.35 77.93
2017-03-31 591.70 1,166.92 83.99
2016-12-31 601.52 1,149.12 74.97
2016-09-30 663.81 1,300.12 154.59
2016-06-30 710.06 1,545.46 125.10
2016-03-31 784.71 1,643.82 160.54
2015-12-31 797.31 1,758.41 307.22
2015-09-30 658.38 1,855.21 121.41
2015-06-30 22.58 78.59 4.40
2015-03-31 21.16 74.17 4.71
2014-12-31 80.07 75.91 3.18
2013-12-31 23.58 52.08 1.35
  • Northstar Realty Europe's level of debt (97.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (154% vs 97.2% today).
  • Debt is not well covered by operating cash flow (3.5%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Northstar Realty Europe's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Northstar Realty Europe's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Northstar Realty Europe has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NRE Dividends

 What is Northstar Realty Europe's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.51%
Current annual income from Northstar Realty Europe dividends. Estimated to be 3.51% next year.
If you bought $2,000 of Northstar Realty Europe shares you are expected to receive $70 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Northstar Realty Europe's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Northstar Realty Europe's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:NRE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:NRE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.60 1.00
2020-12-31 0.60 1.00
2019-12-31 0.60 1.00
NYSE:NRE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-01 0.600 3.445
2019-03-07 0.600 3.414
2018-11-02 0.600 3.714
2018-08-03 0.600 4.467
2018-05-08 0.600 4.267
2018-03-07 0.600 4.578
2017-11-06 0.600 4.796
2017-08-02 0.600 4.642
2017-05-01 0.600 4.815
2017-03-08 0.600 5.155
2016-11-02 0.600 5.121
2016-08-03 0.600 5.895
2016-05-10 0.600 5.979
2016-03-15 0.600 5.138
2015-12-03 0.600 5.944

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Northstar Realty Europe has been paying a dividend for less than 10 years.
  • Northstar Realty Europe has only been paying a dividend for 3 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Northstar Realty Europe's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Northstar Realty Europe's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Northstar Realty Europe afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Northstar Realty Europe has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NRE Management

 What is the CEO of Northstar Realty Europe's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mahbod Nia
COMPENSATION $1,779,680
AGE 42
TENURE AS CEO 3.9 years
CEO Bio

Mr. Mahbod Nia is Managing Director at Colony Capital, Inc. He is Chief Executive Officer of NorthStar Realty Europe Corp. (or “NRE”), a NYSE listed REIT focused on European properties since 2015. As CEO, Mr Nia is responsible for the overall strategy and operations of NRE. Mr. Nia is President and a Member of the Board of NorthStar Realty Europe Corp. Mr. Nia joined NorthStar Asset Management Group (or “NSAM”) in 2014 to establish the company’s European investment platform that was spun-off in 2015 to create NRE Corp. Prior to joining NSAM in 2014, Mr. Nia acted for PanCap Investment Partners, a European real estate investment and advisory firm with clients including Goldman Sachs (Principal Investments) and other renowned private equity and financial institutions. From 2007 to 2009, Mr. Nia was a Senior Executive Director in the Real Estate Banking Group at Goldman Sachs. Prior to 2007, Mr. Nia served in various positions at Citigroup Inc. (formerly Salomon Brothers). Mr. Nia holds a Master’s in Economics and Finance from the University of Warwick and a First Class Honors degree in Economics for Business.

CEO Compensation
  • Mahbod's compensation has been consistent with company performance over the past year.
  • Mahbod's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Northstar Realty Europe management team in years:

3.7
Average Tenure
42
Average Age
  • The tenure for the Northstar Realty Europe management team is about average.
Management Team

Mahbod Nia

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
42
TENURE
3.9 yrs

Keith Feldman

TITLE
CFO & Treasurer
COMPENSATION
$1M
AGE
42
TENURE
2 yrs

Trevor Ross

TITLE
General Counsel & Secretary
COMPENSATION
$588K
AGE
40
TENURE
3.7 yrs

Gordon Simpson

TITLE
Investor Relations Contact
Board of Directors Tenure

Average tenure and age of the Northstar Realty Europe board of directors in years:

3.6
Average Tenure
61
Average Age
  • The tenure for the Northstar Realty Europe board of directors is about average.
Board of Directors

Richard Saltzman

TITLE
Chairman of the Board
COMPENSATION
$294K
AGE
61
TENURE
1.3 yrs

Mahbod Nia

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
42
TENURE
1.3 yrs

Judith Hannaway

TITLE
Lead Independent Director
COMPENSATION
$309K
AGE
66
TENURE
3.6 yrs

Oscar Junquera

TITLE
Independent Director
COMPENSATION
$273K
AGE
64
TENURE
3.6 yrs

Denny Minami

TITLE
Independent Director
COMPENSATION
$268K
AGE
61
TENURE
3.6 yrs

Mario Chisholm

TITLE
Independent Director
COMPENSATION
$266K
AGE
34
TENURE
3.6 yrs

Dianne Hurley

TITLE
Independent Director
COMPENSATION
$239K
AGE
55
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Northstar Realty Europe's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Northstar Realty Europe has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NRE News

Simply Wall St News

Does The Northstar Realty Europe Corp. (NYSE:NRE) Share Price Tend To Follow The Market?

A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … Beta is worth considering, but it's also important to consider whether Northstar Realty Europe is growing earnings and revenue. … What this means for you: Since Northstar Realty Europe tends to moves up when the market is going up, and down when it's going down, potential investors may wish to reflect on the overall market, when considering the stock.

Simply Wall St -

What Does Northstar Realty Europe Corp.'s (NYSE:NRE) Share Price Indicate?

Northstar Realty Europe Corp. … A question to answer is whether Northstar Realty Europe's current trading price of $17.3 reflective of the actual value of the? … Let’s take a look at Northstar Realty Europe’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What You Need To Know Before Investing In Northstar Realty Europe Corp. (NYSE:NRE)

Northstar Realty Europe Corp. … real estate investment trust (REIT) based in New York, United States. … View our latest analysis for Northstar Realty Europe.

Simply Wall St -

Can You Imagine How Northstar Realty Europe's Shareholders Feel About The 77% Share Price Increase?

(NYSE:NRE) share price is up 77% in the last three years, clearly besting than the market return of around 53%. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers)

Simply Wall St -

At US$15.95, Is Northstar Realty Europe Corp. (NYSE:NRE) Worth Looking At Closely?

Northstar Realty Europe Corp. … As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Today I will analyse the most recent data on Northstar Realty Europe’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

How To Look At Northstar Realty Europe Corp (NYSE:NRE)

Northstar Realty Europe Corp is a US$796m. … See our latest analysis for Northstar Realty Europe … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation

Simply Wall St -

Does Northstar Realty Europe Corp (NYSE:NRE) Create Value For Shareholders?

Over the last twelve months Northstar Realty Europe has recorded a ROE of 7.5%. … That means that for every $1 worth of shareholders' equity, it generated $0.075 in profit. … Check out our latest analysis for Northstar Realty Europe?

Simply Wall St -

One Metric To Rule Them All: Northstar Realty Europe Corp (NYSE:NRE)

Northstar Realty Europe Corp is a US$688.56m. … real estate investment trust (REIT) based in New York, United States. … View our latest analysis for Northstar Realty Europe

Simply Wall St -

Northstar Realty Europe Corp's (NYSE:NRE) Profit Outlook

Northstar Realty Europe Corp's (NYSE:NRE):. … The US$766.60m market-cap posted a loss in its most recent financial year of -US$31.12m and a latest trailing-twelve-month loss of -US$17.06m shrinking the gap between loss and breakeven. … View out our latest analysis for Northstar Realty Europe

Simply Wall St -

Is There Now An Opportunity In Northstar Realty Europe Corp (NYSE:NRE)?

Northstar Realty Europe Corp (NYSE:NRE), a reits company based in United States,. … Let’s take a look at Northstar Realty Europe’s outlook and value based on the most recent financial data to see if the opportunity still exists? … See our latest analysis for Northstar Realty Europe?

Simply Wall St -

NRE Company Info

Description

NorthStar Realty Europe Corp. is a European focused commercial real estate company with predominately prime office properties within key cities in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony Capital, Inc. (NYSE: CLNY), a leading global equity REIT with an embedded investment management platform.

Details
Name: Northstar Realty Europe Corp.
NRE
Exchange: NYSE
Founded:
$866,268,674
$860,860,853
50,629,379
Website: http://www.nrecorp.com
Address: Northstar Realty Europe Corp.
590 Madison Avenue,
34th Floor,
New York,
New York, 10022,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NRE Common Stock New York Stock Exchange US USD 21. Oct 2015
Number of employees
Current staff
Staff numbers
0
Northstar Realty Europe employees.
Industry
Office REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 03:11
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/10
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.