Colony Capital Announces Fourth Quarter and Full Year 2020 Financial Results
Colony Capital (CLNY) reported 4Q 2020 revenues of $339 million, with a net loss attributable to common stockholders of $(141) million or $(0.30) per share. For the full year 2020, total revenues reached $1.2 billion and a net loss of $(2.8 billion or $(5.81) per share. However, Core FFO excluding gains/losses was $18.2 million or $0.03 per share for Q4, reflecting stability amidst a challenging year. The Company emphasizes progress in its digital transition and a robust digital asset management at $30 billion.
- Core FFO of $18.2 million in 4Q 2020 marks positive momentum.
- Digital AUM increased to $30 billion, representing 58% of total AUM.
- DCP II closed with $4.2 billion raised, targeting $6 billion.
- Net income for 4Q 2020 was $(141 million), a decline from previous year.
- Full year 2020 reported a net loss of $(2.8 billion).
- Decline in Core FFO from $99 million in FY 2019 to $47 million in FY 2020.
Colony Capital, Inc. (NYSE: CLNY) and subsidiaries (collectively, “Colony Capital,” or the “Company”) today announced financial results for the fourth quarter and full year ended December 31, 2020. The Company reported fourth quarter 2020: (i) total revenues of
“We made transformational progress in 2020 towards our digital rotation, capped off by the first closing of DCP II at |
4Q 2020 HIGHLIGHTS
Consecutive Quarter of Positive Core FFO
-
Positive Core FFO excluding gains/losses of
$18.2 million reflecting the results of continuing operations. - Continued strong performance from the Digital segments and lower corporate expenses with earnings rotation through divestment of legacy businesses and assets.
Digital Offense
-
Digital AUM rose to
$30.0 billion or58% of total AUM. -
In early 2021, the Company held a first closing of
$4.2 billion on DCP II, the follow-on to our flagship digital equity fund. DCP II has a target capital raise of$6 billion . -
DataBank completed the acquisition of zColo at a
$1.4 billion valuation with the Company maintaining its20% interest for a$145 million equity investment alongside$575 million of new third-party co-invest capital. -
Vantage raised
$1.3 billion in securitized notes to refinance existing debt on highly attractive terms, decreasing its overall cost of debt, extending term, and enhancing investor returns. -
In February 2021, DataBank raised
$658 million in securitized notes to refinance existing debt, extending its debt maturities and lowering its overall cost of debt. This securitization represents the first of its kind in the enterprise data center sector.
Financial Summary |
||||||||||||||||
($ in millions, except per share data and where noted) |
||||||||||||||||
Revenues |
4Q 2020 |
4Q 2019 |
FY 2020 |
FY 2019 |
||||||||||||
Property operating income |
$ |
270 |
|
$ |
193 |
|
$ |
936 |
|
$ |
737 |
|
||||
Interest income |
|
10 |
|
|
45 |
|
|
80 |
|
|
167 |
|
||||
Fee income |
|
47 |
|
|
46 |
|
|
178 |
|
|
224 |
|
||||
Other income |
|
12 |
|
|
15 |
|
|
42 |
|
|
79 |
|
||||
Total revenues |
$ |
339 |
|
$ |
299 |
|
$ |
1,236 |
|
$ |
1,207 |
|
||||
Net income to common stockholders |
$ |
(141 |
) |
$ |
(26 |
) |
$ |
(2,751 |
) |
$ |
(1,152 |
) |
||||
Core FFO |
$ |
(52 |
) |
$ |
0 |
|
$ |
(267 |
) |
$ |
55 |
|
||||
Core FFO per share |
$ |
(0.10 |
) |
$ |
0.00 |
|
$ |
(0.50 |
) |
$ |
0.10 |
|
||||
Core FFO excluding gains/losses |
$ |
18 |
|
$ |
21 |
|
$ |
47 |
|
$ |
99 |
|
||||
Core FFO excluding gains/losses per share |
$ |
0.03 |
|
$ |
0.04 |
|
$ |
0.09 |
|
$ |
0.19 |
|
||||
|
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FAQ
What were Colony Capital's earnings for 4Q 2020?
Colony Capital reported revenues of $339 million with a net loss of $141 million for 4Q 2020.
How did Colony Capital perform in full year 2020?
For full year 2020, Colony Capital reported total revenues of $1.2 billion and a net loss of $2.8 billion.
What is the status of Colony Capital's digital transition?
Colony Capital noted significant progress in its digital rotation, with digital AUM reaching $30 billion.
What is Colony Capital's Core FFO for the fourth quarter of 2020?
The Core FFO for 4Q 2020 was $18.2 million, or $0.03 per share.
What capital was raised in Colony Capital's DCP II?
Colony Capital's DCP II raised $4.2 billion, with a target of $6 billion.
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