Shares of American Express Company (NYSE:AXP) ended Tuesday session in green amid volatile trading. The shares closed up +0.86 points or 1.36% at $64.28 with 3.92 million shares getting traded. Post opening the session at $63.93, the shares hit an intraday low of $63.58 and an intraday high of $64.42 and the price vacillated in this range throughout the day. The company has a market cap of $58.66 billion and the numbers of outstanding shares have been calculated to be 923.78 million shares.
On September 27, 2016 The board of directors of American Express Company (AXP) approved the repurchase of up to 150 million common shares, from time to time, subject to market conditions and the Federal Reserve’s non-objection of the company’s capital plans. This authorization replaces the prior 150 million share repurchase program that had approximately 50 million shares of common stock remaining under board authorization.
Separately, the board of directors approved a $0.03 – or 10 percent – increase in the quarterly dividend on the company’s common stock. The dividend was raised to $0.32 per common share, from $0.29, payable on November 10, 2016 to shareholders of record on October 7, 2016.
Shares of Northstar Realty Finance Corp (NYSE:NRF) ended Tuesday session in red amid volatile trading. The shares closed down -0.09 points or -0.70% at $12.77 with 1,623,139 shares getting traded. Post opening the session at $12.82, the shares hit an intraday low of $12.70 and an intraday high of $12.89 and the price vacillated in this range throughout the day. The company has a market cap of $2.30 billion and the numbers of outstanding shares have been calculated to be 180.73 million shares.
Northstar Realty Finance Corp (NRF) on Aug. 4, 2016 announced its results for the second quarter ended June 30, 2016.
Second Quarter 2016 Results
NorthStar Realty reported U.S. GAAP net (loss) to common stockholders for the second quarter 2016 of ($115.6) million, or ($0.64) per diluted share. NorthStar Realty reported CAD for the second quarter 2016 of $102.8 million, or $0.56 per share. Second quarter 2016 CAD includes the impact of foregone CAD of approximately $9.6 million, or $0.05 per share, relating to real estate private equity funds which NorthStar Realty entered into agreements to sell as of March 31, 2016.
David T. Hamamoto, Chairman, commented, “We are pleased that NRF could be a party to the merger with NSAM and Colony, which will create a world-class diversified real estate and investment management platform. Following the merger, NRF’s shareholders can realize the full benefits of the substantial asset monetizations and the resulting attractive financial profile of the combined company as an internally managed REIT.”
Jonathan A. Langer, Chief Executive Officer, commented, “Our second quarter results were in-line with expectations driven by consistent operating performance across the majority of our real estate business lines. Our hotels have experienced increased pressure in performance which is primarily related to displacement of room revenue resulting from planned renovations and generally sluggish industry conditions. In addition to advanced planning efforts relating to the tri-party merger, we continue to focus on asset monetization opportunities and are extremely pleased with our progress to date.”