Shares of istar Inc (NYSE:STAR) have been given an average rating of “Hold” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $12.00.
Several brokerages recently commented on STAR. Zacks Investment Research upgraded istar from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, October 11th. ValuEngine downgraded istar from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd.
In related news, major shareholder Istar Inc. bought 129,600 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were acquired at an average cost of $16.35 per share, for a total transaction of $2,118,960.00. Following the acquisition, the insider now owns 7,387,410 shares in the company, valued at approximately $120,784,153.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.01% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of STAR. SG Americas Securities LLC acquired a new stake in istar during the 2nd quarter valued at approximately $147,000. Dynamic Technology Lab Private Ltd acquired a new stake in istar during the 1st quarter valued at approximately $238,000. State of Alaska Department of Revenue acquired a new stake in istar during the 3rd quarter valued at approximately $249,000. First Hawaiian Bank acquired a new stake in istar during the 3rd quarter valued at approximately $266,000. Finally, Stevens Capital Management LP grew its stake in istar by 114.6% during the 2nd quarter. Stevens Capital Management LP now owns 25,345 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 13,533 shares in the last quarter. Hedge funds and other institutional investors own 82.74% of the company’s stock.
Shares of NYSE:STAR traded down $0.23 during mid-day trading on Friday, hitting $10.74. 25,979 shares of the company traded hands, compared to its average volume of 622,017. The company has a market cap of $759.20 million, a P/E ratio of 4.74 and a beta of 0.94. The company has a debt-to-equity ratio of 3.20, a quick ratio of 8.43 and a current ratio of 8.43. istar has a 52-week low of $9.75 and a 52-week high of $12.11.
istar (NYSE:STAR) last announced its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.37 by $0.18. The business had revenue of $171.57 million for the quarter, compared to the consensus estimate of $119.30 million. istar had a return on equity of 9.50% and a net margin of 11.28%. The company’s revenue was down 50.7% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. Analysts predict that istar will post 2.74 earnings per share for the current year.
istar Company Profile
iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and $40 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.
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