Colony NorthStar reports 4Q results
LOS ANGELES (AP) — Colony NorthStar Inc. (CLNS) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate and investment management firm, based in Los Angeles, said it had funds from operations of $95.1 million, or 16 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 $368.1 million, or 69 cents per share.
Colony NorthStar posted revenue of $720.3 million in the period.
The company’s shares have dropped 32 percent since the beginning of the year. The stock has dropped 47 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLNS at https://www.zacks.com/ap/CLNS
This story has been corrected to show that the company changed its name to Colony NorthStar Inc. from NorthStar Asset Management Group in 2017.