iStar (SFI) saw its loss widen to $14.27 million, or $0.38 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $8.36 million, or $0.27 a share. On an adjusted basis, net loss for the quarter was $11.79 million, when compared with $0.31 million in the last year period.

Revenue during the quarter went down marginally by 0.94 percent to $113.56 million from $114.64 million in the previous year period.

Cost of revenue rose 12.58 percent or $5.77 million during the quarter to $51.65 million. Gross margin for the quarter contracted 546 basis points over the previous year period to 54.52 percent.

Total expenses were $91.24 million for the quarter, up 6.18 percent or $5.31 million from year-ago period. Operating margin for the quarter contracted 539 basis points over the previous year period to 19.65 percent.

Operating income for the quarter was $22.32 million, compared with $28.71 million in the previous year period.

Revenue from real estate activities during the quarter increased 3.95 percent or $2.76 million to $72.64 million.

Income from operating leases during the quarter dropped 4.27 percent or $2.35 million to $52.59 million.

Revenue from other real estate activities during the quarter was $20.05 million, up 34.14 percent or $5.10 million from year-ago period.

Other income during the quarter was $40.92 million, down 8.57 percent or $3.84 million from year-ago period.

"We've reached a critical turning point for the Company," explained Jay Sugarman, iStar's chairman and chief executive officer. "We've spent significant time and effort working to unlock value in our portfolio and explore new areas of investment. Recent favorable developments have left us with over $1 billion of available liquidity on hand which gives us the ability to pursue large white space opportunities and deliver attractive risk-adjusted returns to shareholders."

Net receivables were at $12.56 million as on Mar. 31, 2017, down 21.59 percent or $3.46 million from year-ago.

Investments stood at $1,578.79 million as on Mar. 31, 2017, down 15.64 percent or $292.59 million from year-ago.

Total assets declined 3.60 percent or $197.66 million to $5,294.52 million on Mar. 31, 2017. On the other hand, total liabilities were at $4,256.52 million as on Mar. 31, 2017, down 4.73 percent or $211.28 million from year-ago.

Return on assets moved down 19 basis points to 0.68 percent in the quarter. Return on equity for the quarter stood at negative 2.62 percent as compared to a negative 2.09 percent for the previous year period.