iStar Inc. (NYSE:STAR) Expected to Post Earnings of $0.13 Per Share

Wall Street brokerages forecast that iStar Inc. (NYSE:STAR) will announce earnings per share (EPS) of $0.13 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for iStar’s earnings. iStar reported earnings of $0.15 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 13.3%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 22nd.

On average, analysts expect that iStar will report full-year earnings of $2.41 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post earnings of $0.66 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for iStar.

iStar (NYSE:STAR) last released its earnings results on Tuesday, November 2nd. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $1.48. iStar had a net margin of 18.97% and a return on equity of 10.15%. During the same quarter in the previous year, the company earned ($0.03) earnings per share.

A number of research firms have issued reports on STAR. Raymond James increased their target price on shares of iStar from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, November 3rd. Zacks Investment Research raised shares of iStar from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, November 10th. Finally, Berenberg Bank assumed coverage on shares of iStar in a research report on Friday, September 10th. They issued a “buy” rating and a $39.00 target price on the stock. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.33.

In other iStar news, major shareholder Istar Inc. purchased 10,280 shares of iStar stock in a transaction on Thursday, October 14th. The shares were purchased at an average cost of $75.97 per share, with a total value of $780,971.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.23% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Capital Analysts LLC purchased a new stake in iStar during the third quarter valued at about $38,000. Sandy Spring Bank purchased a new stake in iStar during the second quarter valued at about $33,000. US Bancorp DE lifted its stake in iStar by 239.6% during the third quarter. US Bancorp DE now owns 5,155 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 3,637 shares in the last quarter. Fifth Third Bancorp purchased a new stake in iStar during the second quarter valued at about $111,000. Finally, Essex Financial Services Inc. purchased a new stake in iStar during the third quarter valued at about $201,000. 94.88% of the stock is owned by institutional investors.

iStar stock traded up $0.55 during mid-day trading on Thursday, reaching $25.00. 358,245 shares of the company’s stock were exchanged, compared to its average volume of 649,516. The company has a market cap of $1.79 billion, a P/E ratio of 25.77 and a beta of 0.74. iStar has a twelve month low of $13.93 and a twelve month high of $27.75. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 3.22. The company has a fifty day moving average of $25.37 and a 200-day moving average of $23.12.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st will be issued a $0.125 dividend. The ex-dividend date is Tuesday, November 30th. This represents a $0.50 dividend on an annualized basis and a yield of 2.00%. iStar’s payout ratio is 51.55%.

iStar Company Profile

iStar, Inc is a real estate investment trust company, which engages in financing, investing, and development of real estate and related projects. It operates through the following business segments: Real Estate Finance, Net Lease, Operating Properties, Land and Development, and Corporate and Other. The Real Estate Finance segment includes all of the activities of the company related to senior and mezzanine real estate loans and real estate related securities.

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Earnings History and Estimates for iStar (NYSE:STAR)

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