Colony Financial, Inc. (CLNY) Monday reported first-quarter profit of $19.41 million, up from $12.47 million in the same period last year.
Net income attributable to common stockholders increased to $14.05 million from $12.09 million last year. On a per-share basis, earnings dropped to $0.22 from $0.37 last year, due to higher number of shares outstanding.
Core earnings for the quarter was $17.0 million or $0.27 per share. Analysts polled by Thomson Reuters expected the company to earn $0.31 per share for the quarter. Analysts' estimates typically exclude special items.
Book value per share was $18.58, compared $18.30 per share last year.
Revenues totaled $33.59 million, up from $21.82 million last year. Analysts expected revenues of $33.75 million.
Equity in income of unconsolidated joint ventures improved to $21.80 million from $15.44 million last year.
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