Colony Capital closed on $310M of commitments in Q1

|About: Colony Capital, Inc. (CLNY)|By:, SA News Editor

Colony Capital (NYSE:CLNY) Q1 core FFO of $47.7M, or 9 cents per share.

Excluding net investment losses of $27.7M, core FFO would be $75.4M, or 15 cents per share; the net investment losses were comprised of $14.1M of losses on sale of and provision for loan losses on certain other equity and debt investments and $13.6M for its share of certain investment losses realized by Colony Credit Real Estate.

Consensus estimate is 13 cents.

Q1 total revenue of $632.9M, exceeding the consensus estimate of $627.5M, fell from $666.7M a year earlier.

Closed on commitments of $310M in third-party capital (including amounts related to affiliates).

Completed planned sale and/or monetization of $190M of assets, resulting in net proceeds of $93M.

Q1 healthcare comparable net operating income increased 2.7% Q/Q due to higher one-time expenses in Q4 and increased rental rates in Q1 in the senior housing operating portfolio.

Q1 light industrial same-store NOI increased 0.6% Q/Q primarily due to contractual rent escalations on in-place leases, offset by budgeted vacancy, and increased real estate tax and insurance expenses.

Q1 hospitality real estate NOI before FF&E Reserve increased 2.4%, primarily due to an increase in ancillary revenue.

Conference call at 10:00 AM ET.

Previously: Colony Capital beats on revenue (May 10)

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