[Entering Position in Northstar Realty Finance (NRF)]
Dear Member:
Northstar Realty Finance Corp (NRF)is a REIT (real estate investment trust) that makes fixed income structured finance and net lease investments in commercial real estate assets. The company recently paid a quarterly dividend at a rate of almost 14% per year. The price to book ratio is less than 1 and the PEG is around .89.
Over the last several days, the price broke through both a price resistance and a shorter term trend resistance. NRF has been in an uptrend since mid-March. Although I would not be surprised if there was a small retracement near the $10 level, I like the stock at a limit of $10.35. My initial exit would be on a break of the uptrend that began in March.
DISCLOSURE: At the time of publication, I have no position in NRF.
Sincerely,
Bill Kraft
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