- Colony Credit Real Estate (CLNC) takes a $147M impairment charge to accelerate monetization of legacy investments that are low-yielding, non-core, or that suffered recent credit events.
- Q4 core earnings excluding notable items were $42.6M, or 33 cents per share.
- Q4 net interest income of $25.1M vs. $27.2M a year ago.
- Undepreciated book value of $21.81 per share at Dec. 31, 2018.
- Recorded $77M of loan loss provisions at CLNC ownership share related to four separate borrowers as a result of updates to the timing and likely range of outcomes achievable in connection with asset foreclosures and dispositions.
- Board authorizes up to $300M stock repurchase program.
- Conference call at 5:00 PM ET.
- Previously: Colony Credit Real Estate reports 4Q18 results(Feb. 28)
Colony Credit take Q4 charge to accelerate some legacy monetization
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