|Bid||3.1600 x 1800|
|Ask||3.1700 x 4000|
|Day's Range||3.0600 - 3.1700|
|52 Week Range||1.3300 - 5.8000|
|Beta (5Y Monthly)||2.09|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar 30, 2020|
|1y Target Est||N/A|
Colony Capital shares were higher after the real estate investor agreed to sell six portfolios to hotel owner-operator Highgate.
Shares of Colony Capital Inc. rose nearly 20% in the extended session Thursday after the real-estate investment firm said it has agreed to sell six of its hospitality portfolios to Highgate, a real-estate investment and hospitality management company. The deal is valued at $2.8 billion, including $67.5 million of gross proceeds and the assumption of $2.7 billion in debt. The six portfolios consist of 22,676 rooms across 197 hotel properties, Colony said. Colony is aiming "to focus exclusively on digital infrastructure assets," it said. "We are thrilled to be delivering on our commitment to dispose of non-core assets and harvest positive value for our hospitality business," Chief Executive Marc Ganzi said in a statement. "The sale of our legacy hospitality assets is a significant milestone in Colony's digital transformation as we pivot to focus exclusively on our fast-growing digital businesses that generate superior returns for Colony shareholders." The deal is expected to close in the first quarter of 2021. Shares of Colony ended the regular trading day down 1.3%.
Over the last month the Colony Capital, Inc. (NYSE:CLNY) has been much stronger than before, rebounding by 43%. But...