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Colony Financial Inc. | 8.50% Series A Cumulative Redeemable Perpetual Preferred Stock (CLNY.PRA)

Prospectus exerpt:  We are offering 5,200,000 shares of our 8.50% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as our Series A Preferred Stock. This is the original issuance of our Series A Preferred Stock.

Dividends on our Series A Preferred Stock will be cumulative from the date of original issue and payable quarterly on or about the 15th day of each January, April, July and October at the rate of 8.50% per annum of its liquidation preference, which is equivalent to $2.125 per annum per share. The first dividend on our Series A Preferred Stock sold in this offering is payable on July 16, 2012 (in the amount of $0.6847 per share).

Generally, we may not redeem the Series A Preferred Stock until March 20, 2017. On and after March 20, 2017, we may, at our option, redeem the Series A Preferred Stock, in whole, at any time, or in part, from time to time, for cash at a redemption price of $25.00 per share, plus any accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption. In addition, upon the occurrence of a Change of Control (as defined herein), as a result of which our common stock and the common securities of the acquiring or surviving entity (or American Depositary Receipts, or ADRs, representing such common securities) are not listed on the New York Stock Exchange, or NYSE, the NYSE Amex Equities, or NYSE Amex, or the NASDAQ Stock Market, or NASDAQ, or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series A Preferred Stock, in whole or in part within 120 days after the first date on which such Change of Control occurred, by paying $25.00 per share, plus any accrued and unpaid dividends (whether or not declared) to, but not including, the date of redemption. To the extent we exercise our redemption right relating to the Series A Preferred Stock, the holders of Series A Preferred Stock will not be permitted to exercise the conversion right described below in respect of their shares called for redemption. The Series A Preferred Stock has no maturity date and will remain outstanding indefinitely unless repurchased or redeemed by us or converted in connection with a Change of Control by the holders of Series A Preferred Stock.

Full Prospectus PDF », CLNY Page »

Series:A
Redeemable?:Yes
Call Date:3/20/2017
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:5,200,000
Overallotment:780,000
Liquidation Preference:$25
Recent Market Price:$27.45
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$2.45 (9.80%)
Annualized Dividend:2.125
Recent Ex-Date:12/29/2014
Current Yield:7.74%
Original Coupon:8.500%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
Colony Financial is a real estate investment and finance company that is focused on acquiring, originating and managing real estate-related debt and equity investments. Co. operates in three segments: real estate debt investments, which include originated and acquired commercial real estate debt, mortgage-backed securities, and other debt-related investments; single-family residential rentals through its investment in CAH Operating Partnership, L.P.; and other real estate equity investments, which include real estate acquired in settlement of loans or from acquisition of operating properties, common equity in real estate or related companies, and certain preferred equity investments.

Preferreds: CLNY.PRA, CLNY.PRB


Open the CLNY Information Page »
Name:  Colony Financial Inc.
Website:  www.colonyfinancial.com
Sector:  REITs
Number of ETFs Holding CLNY:  34 (see which ones)
Total Market Value Held by ETFs:  $209,651,438
Total Market Capitalization:  $2,706,000,000
% of Market Cap. Held by ETFs:  7.75%

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