This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Colony Financial Announces Fourth Quarter And Full Year 2012 Financial Results

Colony Financial, Inc. (NYSE: CLNY) (the “Company”) today announced financial results for the fourth quarter and full year ended December 31, 2012.

Fourth Quarter 2012 Highlights

  • Core Earnings, a non-GAAP financial measure, of $18.0 million, or $0.41 per basic and diluted share and net income attributable to common stockholders of $13.5 million, or $0.31 per basic and diluted share
  • During the quarter, the Company invested approximately $243 million, composed of $105 million additional equity into CSFR Operating Partnership, L.P. (“CSFR”), our single family home rental platform, $52 million into two loan originations with a blended interest rate of 10% and $86 million into four separate transactions involving the discounted purchase of performing and non-performing first mortgage loans or loan portfolios at an average price of 61% of par
  • Raised net proceeds of approximately $221 million through the sale of 11.5 million shares of the Company’s common stock to underwriters at a net price of $19.29 per share
  • Declared and paid a fourth quarter dividend of $0.35 per share of common stock, consistent with the third quarter, and a special dividend for 2012 of $0.05 per common share
  • The plan of reorganization for the 103 property Hotel Portfolio was approved by a bankruptcy court accomplishing a number of matters, including a restructuring of the mortgage loan, a change in hotel management, a sale of a minority equity interest, and a re-flagging of the hotels with various nationally recognized brands
  • Subsequent to quarter end, the Company invested and agreed to invest approximately $481 million, composed of an additional $295 million into CSFR (for an aggregate investment and commitment of $550 million into CSFR), $23 million into a loan acquisition at a purchase price of 78% of par and $163 million into three new first mortgage originations that have a blended interest rate of approximately 9%
  • Subsequent to quarter end, the Company raised additional net proceeds of $232 million through the sale of 11.5 million shares of its common stock to underwriters at a net price of $20.20 per share

Fourth Quarter Operating Results

For the fourth quarter of 2012, equity in income of unconsolidated joint ventures and interest income and other income from affiliates contributed $21.5 million and $11.2 million, respectively, to total income of $32.7 million. Total expenses for the quarter were $11.4 million including administrative expenses of $1.6 million. During the fourth quarter of 2012, the Company reported net income attributable to common stockholders of $13.5 million, or $0.31 per basic and diluted share. Colony Financial’s Core Earnings were $18.0 million, or $0.41 per basic and diluted share, for the fourth quarter of 2012.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs