NorthStar price target lifted at FBR

The quarterly results are nice, says analyst Daniel Altscher, reiterating NorthStar Realty Finance (NRF -0.7%) with a Buy and boosting the price target to $18, but "it's all about the upcoming spinoff for NorthStar Asset Management."

The raised quarterly dividend (to $0.25 from $0.21) is especially significant as Altscher feels investors will value NorthStar on a yield basis post-spin.

He also notes the partnership with Jay Flaherty as already paying major dividends with the upcoming purchase of a $1.05B healthcare property portfolio, setting up potential for a future spinoff later this year or in 2015.

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