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Colony Financial Announces $50 Million Common Stock Repurchase Program

^{Published on 2011-08-15 06:01:18 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--Colony Financial, Inc. (the aCompanya) (NYSE: CLNY) today announced that its Board of Directors has authorized a common stock repurchase program that provides for the repurchase of up to an aggregate of $50 million of the Companya™s outstanding shares of common stock over a twelve-month period.

Under the common stock repurchase program, the Company will purchase shares of its common stock in the open market or privately negotiated transactions from time to time in compliance with the Securities and Exchange Commission (the "SEC")a™s Rule 10b-18, subject to prevailing market conditions, applicable legal requirements and other factors. The timing, pricing and manner of any purchases will be determined by the Company in light of market conditions, available investment alternatives and capital availability. The program does not obligate the Company to purchase any particular number of shares and may be modified, suspended or discontinued at any time at the Company's discretion.

About Colony Financial, Inc.

Colony Financial, Inc. is a real estate finance and investment company that is focused primarily on acquiring and originating commercial real estate loans and real estate-related debt at attractive risk-adjusted returns. Secondary debt purchases may include performing, sub-performing or non-performing loans (including loan-to-own strategies). Colony Financial has elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes. Colony Financial is a component of the Russell 2000® and the Russell 3000® indices. For more information, visit[ www.colonyfinancial.com ].

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as amay,a awill,a ashould,a aexpects,a aintends,a aplans,a aanticipates,a abelieves,a aestimates,a apredicts,a or apotentiala or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Companya™s control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. Statements regarding the following subjects, among others, may be forward-looking: the Companya™s business and investment strategy; performance of the investments; the timing, price or amount of purchases, if any, under the Companya™s common stock repurchase program; expected co-investment allocations and related requirements; the Company's ability to maintain its qualification as a REIT for U.S. federal income tax purposes; and the Company's ability to maintain its exemption from registration under the 1940 Act.

All forward-looking statements reflect the Companya™s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Companya™s future results to differ materially from any forward-looking statements, see the section entitled aRisk Factorsa in the Companya™s Annual Report on Form 10-K for the year ended December 31, 2010 filed with the SEC on March 7, 2011, the Companya™s Quarterly Report on Form 10-Q for the quarters ended March 31, 2011 and June 30, 2011 filed with the SEC on May 10, 2011 and August 8, 2011, respectively, and other risks described in documents subsequently filed by the Company from time to time with the SEC.