Northstar Finance Corp (NRF)

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NorthStar Asset Management misses by $0.10, beats on revenue

Aug 6 2015, 08:18 ET | About: NorthStar Asset Management... (NSAM) | By: Mamta Mayani, SA News Editor

NorthStar Asset Management (NYSE:NSAM): Q2 EPS of $0.19 misses by $0.10.
Revenue of $119.13M (+264.5% Y/Y) beats by $6.16M.
Press Release

http://seekingalpha.com/news/2703106-northstar-asset-management-misses-by-0_10-beats-on-revenue?uprof=45#email_link


NorthStar Asset Management Group Announces Second Quarter 2015 Results
1 comment | Thu August 6, 2015 8:00 AM|PR Newswire | About: NSAM

NEW YORK, Aug. 6, 2015 /PRNewswire/ --

Second Quarter 2015 Highlights
•Cash available for distribution ("CAD") of $0.29 per share.
•Second quarter 2015 cash dividend of $0.10 per common share.
•Raised $771 million of capital in the non-traded companies year-to-date 2015, including $317 million in the second quarter.
•Total assets of managed companies as of June 30, 2015 of approximately $24.7 billion, including investments under contract or acquired subsequent to the second quarter 2015.

NorthStar Asset Management Group Inc. (NYSE: NSAM) today announced its results for the second quarter ended June 30, 2015.

Second Quarter 2015 Results

NSAM reported CAD for the second quarter 2015 of $57.5 million, or $0.29 per share. Net income to common stockholders for the second quarter 2015 was $38.0 million, or $0.19 per diluted share.

For more information and a reconciliation of CAD to net income (loss) to common stockholders, please refer to the tables on the following pages.

David T. Hamamoto, Executive Chairman, commented, "NSAM completed its first full year as a stand-alone public company with another strong quarter that reflects sustained growth in core profitability and solid momentum in our underlying businesses. NSAM's unique attributes effectively provide for permanent and continuous net inflows, which sets the stage for powerful and continuous earnings growth."

Mr. Hamamoto continued, "Turning to our retail business, our capital raising continues to be strong, with momentum expected to significantly pick up towards the end of 2015. We are excited about our new product offerings, including our $3 billion closed-end fund, NorthStar Global Corporate Income Fund, co-sponsored with Och-Ziff that recently filed its initial registration statement with the SEC (SCUR), and are also pleased to announce that we anticipate filing in the next couple of months an initial registration statement for a new $3 billion closed-end commercial real estate loan fund. Our product pipeline, including capital still to be raised at existing vehicles, will soon stand at approximately $10 billion and we look forward to sharing our potential ideas in the coming months on how we may significantly accelerate our capital raising for these vehicles."

Al Tylis, Chief Executive Officer, commented, "NorthStar Asset Management Group (NSAM) has the potential to grow into one of the great global asset management firms with an extraordinarily durable, one-of-a-kind revenue model. In terms of our buyback program, while our effective ability to repurchase stock in the second quarter was limited to the last couple days of June, we believe allocating our capital to repurchase NSAM stock is compelling at current levels. Given potential timing and other limitations on executing substantial open market purchases of our stock, such as self-imposed blackout periods for potential NSAM acquisitions, we are exploring other alternatives to enhance and leverage our buyback strategy. We are exceedingly optimistic about NSAM and our prospects for creating substantial shareholder value."

NSAM Managed Companies Results

NorthStar Realty (NRF)
•Base asset management fee of $48.2 million earned during the second quarter 2015.
•Incentive fee of $3.5 million earned during the second quarter 2015.

More...

http://seekingalpha.com/pr/14332886-northstar-asset-management-group-announces-second-quarter-2015-results

http://www.prnewswire.com/news-releases/northstar-realty-finance-announces-second-quarter-2015-results-300124814.html