iStar Financial (STAR) Tops Q4 EPS by 9c

iStar Financial (NYSE: STAR) reported Q4 EPS of $0.15, $0.09 better than the analyst estimate of $0.06.

iStar highlights include:

• Net income (loss) per diluted common share of ($0.26) and ($0.87) for the three months and twelve months ended December 31, 2020, respectively
• Adjusted earnings per diluted common share of $0.15 and $0.54 for the three months and twelve months ended December 31, 2020, respectively
• Unrealized gain on Safehold investment increased by $1.0 billion in 2020 to $1.6 billion total
• $191 million of legacy asset sales proceeds in 2020
• 20% net reduction of legacy asset portfolio in 2020

"Despite the meaningful challenges COVID created, iStar performed well in 2020 against the strategy we originally laid out two years ago: scale Safehold and the ground lease ecosystem, continue to enhance the strength and flexibility of our balance sheet, and simplify our business," said Jay Sugarman, Chairman and Chief Executive Officer. "As we look ahead, we are excited about the opportunity to continue to build on this momentum and realize its value for shareholders.

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

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