Northstar Realty Finance Corp (NRF) reported Q1 cash available for distribution (CAD) of $91.5 million, or $0.28 per diluted share, compared with $0.21 per share a year ago.
However, on a GAAP basis it swung to a loss of $134.9 million, or $0.42 per share, from a gain of $36.6 million, or $0.20 per share for the same quarter last year.
CAD is a non-GAAP financial measure that adjusts for a variety of non-cash items such as depreciation and amortization, equity-based compensation, realized gain (loss) on investments, provision for (reversal of) loan losses and non-cash interest income and expense items.
Separately, on Wednesday the company declared a quarterly dividend $0.25 per share, payable on May 23, 2014 to shareholders of record as of May 19.
Shares of NRF last traded at $15.78 with a 52-week range of $8.14 to $17.93.
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