Home Top Movers Is Colony Capital Inc (CLNY) stock transformation resulted in a minor loss...

Is Colony Capital Inc (CLNY) stock transformation resulted in a minor loss on Tuesday?

Colony Capital Inc. (CLNY) shares lost 0.94% on Tuesday, June 22, 2021, and closed at $8.42 per share. In the after-hours session, the CLNY stock price remained unchanged.

CLNY shares have risen 220.75% over the last 12 months, and they have moved up 7.59% in the past week. Over the past three months, the stock has gained 29.57%, while over the past six months, it has lost 78.95%.


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Transformation of Colony Capital

On June 22, 2021, Colony Capital, Inc announced its further business transformation step and changed its name to DigitalBridge Group, Inc. Effective today, the Company will begin trading under a new NYSE ticker DBRG.

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Hosting inaugural Investor Day

Colony Capital, Inc hosted its inaugural Investor Day virtually on Tuesday, June 22, 2021, started at 11:00 am ET.

On the investor day, Company’s leadership team outlined the fast-growing digital infrastructure thematics DigitalBridge is levered to and provide insight into how it is executing on these opportunities

The management team provided an update to the Company’s medium and longer-term financial outlook and guidance as well.

 Other Equity & Debt (OED) Portfolio SOLD

On June 7, 2021, Colony Capital, Inc signed an agreement to sell the bulk of its OED portfolio of real estate assets to Fortress Investment Group LLC (Fortress), for gross proceeds of $535 million.

Acquisition of Landmark Dividend LLC

On June 02, 2021, affiliates of Digital Colony Management, LLC completed the previously announced acquisition of Landmark Dividend LLC.

Landmark Dividend was a portfolio company of American Infrastructure Funds, Brock Capital Group, and AVG Holdings.

Participation in Virtual Investor Conferences in June

Colony Capitalexecutives recently participated in the following investor conferences.

  • The company took part in a fireside chat and conducted virtual meetings with investors at credit Suisse 23rd Annual Communications Conference which held on June 15, 2021.
  • Marc Ganzi, President and CEO, Colony Capital presented the company virtually at Nareit’s REITWeek: 2021 Virtual Investor Conference which held on June 8, 2021.
  • The company also participated at Wells Fargo Virtual Media & Telco Day: 5G & Streaming & Beyond which held on June 7, 2021.

Colony, Macquarie looking to sell Mexico Telecom Partners

Colony Capital Inc. unit Digital Colony and Macquarie Group Ltd. affiliate Macquarie Mexico Infrastructure fund are looking to sell Mexico Telecom Partners, according to some reputable sources.

Both companies hired an advisor to discuss MTP options after fielding unsolicited interest from potential suitors.

The MTP company can get up to $1 billion as it works with major carriers in Mexico and has more than 3,000 towers.

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Conclusion

The rebranding maybe the reason behind its minor loss on Tuesday. But we have to wait and see how the stock market reacts to its new name and transformation in the coming days.

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