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Colony NorthStar board authorizes $300M stock buyback

The board of diversified real estate investment trust Colony NorthStar Inc. authorized a repurchase program for up to $300 million of its outstanding class A common stock.

The authorization, which follows the REIT's recent completion of its $300 million share repurchase program, is slated to expire in 12 months unless otherwise extended.

Under the new program, repurchases may be conducted from time to time in the open market, in privately negotiated transactions or otherwise, according to a release.