LOS ANGELES – LOS ANGELES (AP) _ Colony NorthStar, Inc. (CLNS) on Thursday reported a key measure of profitability in its first quarter.
The Los Angeles-based real estate investment trust said it had funds from operations of $115.1 million, or 20 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 $72.7 million, or 14 cents per share.
The provider of asset management services to NorthStar Realty Finance Corp., based in Los Angeles, posted revenue of $666.7 million in the period. Its adjusted revenue was $63.9 million.
The company's shares have fallen 44 percent since the beginning of the year. The stock has decreased 52 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CLNS at https://www.zacks.com/ap/CLNS
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