CLNY - Colony Capital Q1 earnings in-line as company continues pivot to digital

Colony Capital (CLNY) Q1 core FFO per share of 1 cent matches the average analyst estimate and improves from a core FFO loss per share of 2 cents in the year-ago quarter."The growth in our digital businesses combined with key legacy dispositions puts us at 70% rotated currently, already past our target for the year," said President and CEO Mark Ganzi.Q1 revenue of $316M misses the average analyst estimate of $378.3M; declined from $339M in Q4 and increased from $217M a year ago.Total expenses of $504.0M jumped from $355.4M a year ago; depreciation and amortization accounted for $171.0M of the current quarter's expenses vs. $76.2M in the year-ago period; property operating expense rose to $132.3M from $83.5M.Digital operating EBITDA of $14.4M fell from $60.5M in Q4 and increased from $3.2M in the year-ago quarter.Digital assets under management of $32.0B at March 31, 2021 increased from $30.0B at Dec. 31, 2020.Completed the sale

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Colony Capital Q1 earnings in-line as company continues pivot to digital