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.
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