iStar Reports Second Quarter 2022 Results
Highlights for the quarter include:
- Net income (loss) of
($138.5) million or ($1.70 ) per diluted common share - Adjusted earnings (loss) of
($34.2) million or ($0.42 ) per diluted common share - During the quarter, exchanged
$194 million of convertible notes for 13.75 million shares of common stock and$14 million of cash, recognizing a$298 million increase to book equity, offset by a$118 million loss on early extinguishment of debt $139 million of proceeds from legacy asset sales and loan repayments- Safehold closed
$381 million 1 of new originations, bringing Safehold's total aggregate portfolio to$5.9 billion and total UCA to approximately$9.9 billion
"iStar made considerable progress in the second quarter, simplifying our balance sheet and continuing to help scale Safehold and our ground lease-adjacent businesses," 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: |
877.226.8189 |
International: |
409.207.6980 |
Access Code: |
1179627 |
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: |
6846235 |
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1 Investments in Q2 '22 include
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SOURCE
Company Contact: Jason Fooks, Senior Vice President, Investor Relations & Marketing, T 212.930.9400, E investors@istar.com