iStar Reports Fourth Quarter and Fiscal Year 2020 Results
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NEW YORK, Feb. 23, 2021 /PRNewswire/
iStar Inc. (NYSE: STAR) today reported results for the fourth quarter and fiscal year ended December 31, 2020.
iStar highlights include:
Net income (loss) per diluted common share of ($0.26) and ($0.87) for the three months and twelve months ended December 31, 2020, respectively
Adjusted earnings per diluted common share of $0.15 and $0.54 for the three months and twelve months ended December 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
Operator
Good morning, and welcome to iStar s Fourth Quarter and Fiscal Year 2020 Earnings Conference Call. [Operator Instructions]
At this time for opening remarks and introductions, I would like to turn the conference over to Jason Fooks, Senior Vice President of Investor Relations and Marketing. Please go ahead, sir.
Jason Fooks
Senior Vice President of Investor Relations & Marketing
Thank you and good morning everyone. Thank you for joining us today to review iStar s fourth quarter and fiscal year 2020 earnings. With me today are Jay Sugarman, Chairman and Chief Executive Officer; Marcos Alvarado, our President and Chief Investment Officer and Jeremy Fox-Geen, our Chief Financial Officer.
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Operator
Good morning, and welcome to Safehold s Fourth Quarter and Fiscal Year 2020 Earnings Conference Call. [Operator Instructions]
At this time, for opening remarks and introductions, I would like to turn the conference over to Jason Fooks, Senior Vice President of Investor Relations and Marketing. Please go ahead, sir.
Jason Fooks
Senior Vice President, Investor Relations And Marketing
Good morning, everyone, and thank you for joining us today for Safehold s earnings call. On the call today, we have Jay Sugarman, Chairman and Chief Executive Officer; Marcos Alvarado, President and Chief Investment Officer; and Jeremy Fox-Geen, Chief Financial Officer. This morning, we plan to walk through a presentation that details our fourth quarter and fiscal year 2020 results. That presentation can be found on our website at safeholdinc.com and by clicking on the Investors link. There will be a replay of this conference call beginning at 1:00 p.m. Eastern Time today, and the dial-in
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