NorthStar Realty Europe (NRE) Reports Q4 EPS of $0.02 on Revenues of $32.55M

NorthStar Realty Europe (NYSE: NRE) reported Q4 EPS of $0.02. Revenue for the quarter came in at $32.55 million.

Fourth Quarter and Full Year 2017 Highlights

• U.S. GAAP net income to common stockholders: $1.4 million, or $0.02 per diluted share for the fourth quarter 2017 and net (loss) to common stockholders for the year ended December 31, 2017 of $(31.1) million, or $(0.57) per diluted share. U.S. GAAP total equity was $624 million, or $11.18 per diluted share as of December 31, 2017
• Cash available for distribution ("CAD"): $13.1 million, or $0.23 per share, for the quarter and $49.5 million, or $0.89 per share for the year ended December 31, 2017
• $2.3 billion independent year-end portfolio valuation by Cushman & Wakefield LLP1, reflecting an increase of $122 million during the second half of 2017
• EPRA2 net asset value ("NAV") of $19.85 per share as of December 31, 2017, an increase of over $2 per share over the third quarter, driven primarily by leasing activity during the second half of 2017
• Over 16% of the portfolio, or 50,000 rentable square meters, was leased or renewed in 2017, which is expected to generate approximately $3 million per annum of incremental same store net operating income ("NOI") in 2018, compared to the fourth quarter 2017 annualized NOI
• Definitive agreement signed to sell Maastoren for approximately $190 million, a 20% premium to the independent mid-year valuation that preceded the recent lease extensions
• $100 million share repurchase program authorized
• Declared a cash dividend of $0.15 per share for the fourth quarter 2017

For earnings history and earnings-related data on NorthStar Realty Europe (NRE) click here.

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