Colony Credit Real Estate (NYSE: CLNC) announced its Q4 2020 results, revealing a GAAP net loss of $(52.5) million, or $(0.41) per share. Distributable Loss stood at $(25.7) million, or $(0.20) per share. Adjusted Distributable Earnings were $26.1 million, or $0.20 per share. The company holds $588 million in cash and plans to reinstate a quarterly dividend of $0.10 starting Q1 2021, targeting growth in earnings and dividends. The net book value was reported at $12.96 per share, with a strategic focus on stabilizing operations amidst the pandemic.
Colony Credit Real Estate (NYSE: CLNC) will release its fourth quarter and full year 2020 financial results on February 24, 2021, after market close. The company will host a conference call at 2:00 p.m. PT to discuss these results. Interested participants can access the call via telephone or through a live broadcast on the company's website. A replay will be available for those unable to join the live call. Colony Credit Real Estate focuses on commercial real estate credit investments, primarily through first mortgage loans, and is managed by a subsidiary of Colony Capital.
Colony Credit Real Estate, Inc. (NYSE: CLNC) has appointed Frank V. Saracino as the new Chief Financial Officer and Treasurer, effective January 1, 2021. The Board of Directors unanimously approved this decision, recognizing Mr. Saracino's experience as the current Chief Accounting Officer. He will continue to hold both positions, which is expected to enhance financial oversight and leadership within the company, ultimately benefiting its stakeholders.
Colony Credit Real Estate (NYSE: CLNC) reported its Q3 2020 financial results, revealing a GAAP net income of $5.0 million ($0.04 per share) and Core Earnings of $39.7 million ($0.30 per share). Adjusted Core Earnings totaled $31.0 million ($0.24 per share). The company improved its GAAP net book value from $13.06 to $13.25 per share. Colony Credit's unrestricted cash balance reached approximately $438 million ($3.33 per share). The company aims to reinstate a quarterly dividend in 2021 amidst ongoing strategic evaluations, including a potential internalization proposal from Colony Capital.
Colony Credit Real Estate (NYSE: CLNC) will release its third quarter 2020 financial results on November 5, 2020, after market close. A conference call is scheduled for the same day at 2:00 p.m. PT / 5:00 p.m. ET to discuss these results. Interested parties can join the call by dialing (855) 327-6837 for U.S. participants or (631) 891-4304 for international callers. A live broadcast will also be available on the Company’s website. A replay will be accessible starting November 5 at 5:00 p.m. PT through November 12, 2020.