Colony NorthStar Credit Real Estate, Inc. (CLNC) Misses Q2 EPS by 10c

Colony NorthStar Credit Real Estate, Inc. (NYSE: CLNC) reported Q2 EPS of $0.31, $0.10 worse than the analyst estimate of $0.41.

Kevin P. Traenkle, President and Chief Executive Officer of Colony Credit Real Estate commented, “We are pleased to report the results of our first full quarter of operations as Colony Credit Real Estate. During the quarter and the few weeks subsequent to quarter’s end, we have made significant progress deploying our liquidity at a pace that is ahead of our original budgets. Due to this recent transaction volume, our second quarter results do not reflect our run-rate earnings primarily due to the timing of investment closings. As a result, we believe there will be considerable earnings growth in the coming quarters as we receive the full benefit from our robust capital commitments and deployment.”

Mr. Traenkle added, “As the global commercial real estate and economic cycles continue to mature, we look forward to taking full advantage of CLNC’s diversified investment mandate. In addition, we are excited to announce our first European investments, which leverage Colony Capital’s global infrastructure and provide our portfolio with further geographic diversification coupled with long-duration stable cash flows with attractive yields.”

For earnings history and earnings-related data on Colony NorthStar Credit Real Estate, Inc. (CLNC) click here.

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