NorthStar Asset Management reports 4Q results
LOS ANGELES (AP) _ NorthStar Asset Management Group Inc. (CLNS) on Thursday reported a key measure of profitability in its fourth quarter.
The real estate investment trust, based in Los Angeles, said it had funds from operations of $95.1 million, or 16 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 $368.1 million, or 69 cents per share.
The provider of asset management services to NorthStar Realty Finance Corp., based in Los Angeles, posted revenue of $720.3 million in the period. Its adjusted revenue was $83.3 million.