Colony Capital: 2Q Earnings Snapshot
LOS ANGELES (AP) _ Colony Capital (CLNY) on Friday reported a key measure of profitability in its second quarter, after reporting a loss in the same period a year earlier.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $57.1 million, or 11 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 $468.9 million, or 98 cents per share.
The provider of asset management services to NorthStar Realty Finance Corp. posted revenue of $573.4 million in the period. Its adjusted revenue was $35.1 million.
The company’s shares have climbed 18% since the beginning of the year. The stock has dropped slightly more than 9% in the last 12 months.