Ganzi’s Colony Capital Reports Q4 and Annual Earnings

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Colony Capital, Inc. (NYSE: CLNY) and subsidiaries yesterday announced financial results for the fourth quarter and full year ended December 31, 2020. The company reported fourth quarter 2020: total revenues of $339 million, GAAP net income attributable to common stockholders of $(141) million, or $(0.30) per share and Core FFO excluding gains/losses of $18.2 million, or $0.03 per share. For full year 2020, Colony Capital reported total revenues of $1.2 billion, GAAP net income attributable to common stockholders of $(2.8) billion, or $(5.81) per share and Core FFO excluding gains/losses of $46.7 million, or $0.09 per share. Beginning in the fourth quarter 2020, Core FFO excludes results from discontinued operations, which was applied to prior periods. 

Marc Ganzi assumed the role of President and CEO and Jacky Wu assumed the role of CFO on July 1, 2020, finalizing what the company refers to as “the transition to a digital-focused management team.”

“We made transformational progress in 2020 towards our digital rotation, capped off by the first closing of DCP II [Digital Colony Partners] at $4.2 billion earlier this year. The digital rotation is manifesting itself in our earnings, assets, and employees,”  Ganzi said. “Thanks to our amazing team, we delivered on all of the key pillars of that transition, despite the pressures of the pandemic. That foundational work positions us to capitalize on the powerful secular tailwinds supporting the continued growth and investment in digital infrastructure. We are looking forward to 2021 and the opportunity to collaborate with our partner companies and customers to build the next-generation networks connecting enterprises and consumers globally.”

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