Colony Capital: 3Q Earnings Snapshot
LOS ANGELES (AP) _ Colony Capital (CLNY) on Friday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $101.6 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 $527.8 million, or $1.10 per share.
The provider of asset management services to NorthStar Realty Finance Corp. posted revenue of $652.5 million in the period. Its adjusted revenue was $40.2 million.
The company’s shares have climbed 25% since the beginning of the year. The stock has declined slightly more than 2% in the last 12 months.