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NEW YORK ( TheStreet) -- The ex-dividend date for Colony Financial (NYSE: CLNY) is tomorrow, June 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 35 cents per share. At a price of $17.24 as of 9:30 a.m. ET, the dividend yield is 8.1%. The average volume for Colony Financial has been 189,000 shares per day over the past 30 days. Colony Financial has a market cap of $571.8 million and is part of the financial sector and real estate industry. Shares are up 9.4% year to date as of the close of trading on Monday. Colony Financial, Inc. operates as a real estate finance and investment company that focuses primarily on acquiring, originating, and managing commercial mortgage loans, and other commercial real estate-related debt investments. The company has a P/E ratio of 12.2, above the average real estate industry P/E ratio of 12 and below the S&P 500 P/E ratio of 17.7.