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Jun 30, 2020
BrightSpire Q2 2020 Earnings Report
Reported a net loss due to loan losses, fair value adjustments, and strategic asset sales and financing, while increasing liquidity and reducing recourse financing.
Key Takeaways
Colony Credit Real Estate reported a GAAP net loss of $(227.1) million, or $(1.77) per share, and Core/LNS Earnings of $(230.5) million, or $(1.75) per share for Q2 2020. These losses were primarily due to loan losses and fair value adjustments. The company more than doubled its liquidity to approximately $525 million and reduced its recourse financing by over $600 million through strategic asset sales and financing.
GAAP net loss attributable to common stockholders was $(227.1) million, or $(1.77) per share.
Core/LNS Earnings/(Loss) totaled $(230.5) million, or $(1.75) per share.
Excluding provisions for losses and fair value adjustments, total Core/LNS Earnings were $34.7 million, or $0.26 per share.
Liquidity more than doubled to approximately $525 million, while recourse financing was reduced by over $600 million.
Forward Guidance
The company did not provide forward guidance in the press release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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