Shares of Star Holdings (NASDAQ:STHO – Get Free Report) were up 1.3% during trading on Tuesday. The stock traded as high as $8.59 and last traded at $8.58. Approximately 32,686 shares traded hands during mid-day trading, an increase of 92% from the average daily volume of 17,060 shares. The stock had previously closed at $8.47.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of Star from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on Star
Star Trading Up 1.3%
Star (NASDAQ:STHO – Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.19) EPS for the quarter. Star had a negative return on equity of 0.90% and a net margin of 14.77%.The firm had revenue of $19.36 million for the quarter.
Institutional Trading of Star
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC boosted its position in shares of Star by 46.5% during the 1st quarter. Rangeley Capital LLC now owns 274,072 shares of the company’s stock worth $2,075,000 after acquiring an additional 86,972 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Star by 148.0% during the 1st quarter. Renaissance Technologies LLC now owns 93,780 shares of the company’s stock worth $710,000 after acquiring an additional 55,965 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in Star during the second quarter worth approximately $523,000. Finally, Ramsey Quantitative Systems purchased a new stake in Star during the second quarter worth approximately $217,000. 89.31% of the stock is currently owned by institutional investors and hedge funds.
Star Company Profile
Star Holdings (NASDAQ: STHO) is a real estate investment company that owns and manages a portfolio of commercial real estate assets and related investments. The company’s holdings primarily consist of legacy real estate investments, including properties, loans and other interests connected to commercial real estate.
Star Holdings was formed from the legacy operations of iStar Inc, following the separation of iStar’s ground-lease business into Safehold Inc The company focuses largely on monetizing and managing its existing portfolio rather than operating as a traditional property developer or a broad-based property management company.
Its investments are primarily located in the United States and span multiple commercial real estate categories.
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