iStar Reports Fourth Quarter and Fiscal Year 2020 Results
iStar highlights include:
- Net income (loss) per diluted common share of (
$0.26 ) and ($0.87 ) for the three months and twelve months endedDecember 31, 2020 , respectively - Adjusted earnings per diluted common share of
$0.15 and$0.54 for the three months and twelve months endedDecember 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
The Company published a presentation detailing its results and a reconciliation of non-GAAP financial metrics, which can be found on its website, in the "Investors" section.
The Company will host an earnings conference call reviewing this presentation beginning at
Dial-In: |
877.336.4436 |
International: |
234.720.6984 |
Access Code: |
9807315 |
A replay of the call will be archived on the Company's website. Alternatively, the replay can be accessed via dial-in from
Replay: |
866.207.1041 |
International: |
402.970.0847 |
Access Code: |
3895665 |
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SOURCE
Jason Fooks, Senior Vice President of Investor Relations & Marketing, T 212.930.9400, investors@istar.com