Colony Capital: 3Q Earnings Snapshot
LOS ANGELES (AP) _ Colony Capital (CLNY) on Wednesday reported a key measure of profitability in its third quarter.
The Los Angeles-based real estate investment trust said it had funds from operations of $102.2 million, or 19 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $70 million, or 15 cents per share.
The provider of asset management services to NorthStar Realty Finance Corp., based in Los Angeles, posted revenue of $674.8 million in the period. Its adjusted revenue was $60 million.
The company’s shares have dropped 49 percent since the beginning of the year. The stock has dropped 53 percent in the last 12 months.