Colony Credit: Fourth Quarter Earnings Overview
BrightSpire Capital Reports Fourth Quarter Loss
BrightSpire Capital, Inc., based in New York, announced on Tuesday that it recorded a net loss of $14.4 million for the fourth quarter.
The company reported a loss of 12 cents per share for the quarter. After adjusting for one-time expenses and amortization, earnings stood at 15 cents per share.
These adjusted earnings fell short of analysts’ expectations, as a survey by Zacks Investment Research of three analysts had projected earnings of 16 cents per share.
During the quarter, the real estate investment trust generated $49.3 million in revenue, with adjusted revenue totaling $17.5 million.
Looking at the full year, BrightSpire Capital managed to reduce its net loss to $31.1 million, or 26 cents per share, while reporting annual revenue of $67.6 million.
Shares of Colony Credit have risen nearly 4% since the start of the year. However, by the close of trading on Tuesday, the stock was priced at $5.80, reflecting a decline of almost 3% over the past twelve months.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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