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June 25, 2014
07:22 EDTNSAM, NRFNorthstar Realty announces dates for NorthStar Asset Management spin-off
NorthStar Realty Finance (NRF) announced that, in connection with the previously announced spin-off of its asset management business, its Board of Directors declared a record date and distribution date of June 30 for the distribution of all the outstanding common stock of NorthStar Asset Management Group (NSAM) to the holders of NorthStar Realty common stock. The record date for both the reverse stock split and the Distribution will be after the close of regular New York Stock Exchange trading hours on June 30 and both transactions will be completed and effective by 11:59 PM, New York City time, on such day. On July 1, the first trading day following the Distribution, NSAM common stock will commence trading on the NYSE under the ticker symbol "NSAM" and NorthStar Realty's common stock will continue to trade on the NYSE under the ticker symbol "NRF." In connection with the Distribution, NorthStar Realty is conducting an internal corporate reorganization and a one-for-two reverse stock split of its common stock, pursuant to which NorthStar Realty will merge with and into its subsidiary, NRFC Sub-REIT Corp., and the survivor will be re-named NorthStar Realty Finance Corp, which will be the entity that effects the reverse stock split and the Distribution. In the Distribution, each NorthStar Realty common stockholder will receive shares of NSAM common stock on a one-for-one basis, after giving effect to the one-for-two reverse stock split.
News For NRF;NSAM From The Last 14 Days
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May 14, 2015
10:07 EDTNRFNorthstar Realty management to meet with JMP Securities
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May 13, 2015
09:14 EDTNRFNorthstar Realty index inclusion a catalyst, says FBR Capital
FBR Capital views Northstar Realty's upcoming addition to the MSCI U.S. REIT Index as both a short- and long-term positive catalyst. FBR believes passive funds that benchmark to the index may need to own the stock and that the inclusion "could open the gates" for more participation and ownership by active REIT-dedicated investors. Vanguard alone may need to buy 23M shares of the stock with index inclusion, it points out. The firm has an Outperform rating on Northstar with a $22 price target.
09:11 EDTNRFNorthstar Realty announces addition to MSCI U.S. REIT Index
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