iStar Financial (STAR) Tops Q3 EPS by 24c

iStar Financial (NYSE: STAR) reported Q3 EPS of $0.29, $0.24 better than the analyst estimate of $0.05.

Highlights include:

• Unrealized gain on Safehold investment increased to $1.2 billion
• Continued recycling of legacy assets into lower risk investments
• Strong balance sheet with weighted average debt maturity profile of approximately 4.5 years
• Net income (loss) of ($0.03) per diluted common share
• Adjusted earnings of $0.29 per diluted common share

"As transaction activity in the real estate markets begins to increase, iStar is well positioned to continue delivering modern ground lease capital to customers across the country," said Jay Sugarman, Chairman and Chief Executive Officer. "With the unrealized gain on our investment in Safehold now well over $1 billion, we are focused on helping more market participants understand the significant intrinsic value of our platform and the large opportunity still ahead of us."

For earnings history and earnings-related data on iStar Financial (STAR) click here.

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