Colony Capital, Inc. (CLNY) has reported a 29.06 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $34.97 million, or $0.20 a share in the quarter, compared with $49.30 million, or $0.32 a share for the same period last year.
Revenue during the quarter dropped 13.02 percent to $228.75 million from $262.98 million in the previous year period.
Cost of revenue dropped 18.85 percent or $6.71 million during the quarter to $28.90 million. Gross margin for the quarter expanded 91 basis points over the previous year period to 87.36 percent.
Revenue from real estate activities during the quarter was almost stable at $109.74 million, when compared with the previous year period.
Other income during the quarter was $119.01 million, down 22.45 percent or $34.46 million from year-ago period.
"We had another strong quarter that further demonstrates the efficacy of our strategic planning and ability to execute these past few years," said Richard Saltzman, the Company’s President and Chief Executive Officer. "A particular highlight is the closing of Colony’s first open-end fund offering which invests in the U.S. industrial market and is directly related to the success of our significant platform acquisition in that space almost two years ago. Last but not least, we continue to make excellent progress towards the closing of the tri-party merger with NorthStar Asset Management and NorthStar Realty Finance. Once complete, which is expected in January 2017, our vastly increased scale, broader distribution capabilities, and diversity of assets will greatly enhance our overall capabilities."
Net receivables were at $3,755.73 million as on Sep. 30, 2016, down 7.64 percent or $307.83 million from year-ago.
Real estate investments stood at $3,489.51 million as on Sep. 30, 2016. Investments stood at $123.62 million as on Sep. 30, 2016.
Total assets grew 4.55 percent or $442.03 million to $10,146.64 million on Sep. 30, 2016. On the other hand, total liabilities were at $4,503.77 million as on Sep. 30, 2016, up 4.06 percent or $175.81 million from year-ago.
Return on assets moved down 8 basis points to 1.12 percent in the quarter. At the same time, return on equity moved down 29 basis points to 0.41 percent in the quarter.
Total debt was at $4,064.74 million as on Sep. 30, 2016. Shareholders equity stood at $5,642.87 million as on Sep. 30, 2016, up 4.95 percent or $266.22 million from year-ago.
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