iStar Financial (STAR) Tops Q4 EPS by 10c

Note: EPS may not be comparable

iStar Financial (NYSE: STAR) reported Q4 EPS of $0.40, $0.10 better than the analyst estimate of $0.30.

• Net income (loss) for fiscal year and fourth quarter 2017 was $110.9 million, or $1.56 per diluted common share and $(4.9) million, or $(0.07) per diluted common share, respectively.
• Adjusted income for fiscal year and fourth quarter 2017 was $214.6 million, or $2.57 per diluted common share, and $31.5 million, or $0.40 per diluted common share, respectively.
• Hired new Chief Investment Officer, Marcos Alvarado, former Head of Acquisitions & Business Operations at Cadre and former Managing Director at Starwood Capital.
• Increased new loan originations to $457 million during the quarter.
• Realized $360 million of proceeds from legacy assets in 2017, goal to outpace this amount in 2018.
• Working with J.P. Morgan Securities LLC to review strategic options for longer-term legacy asset portfolio.

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

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