Chicago Equity Partners LLC acquired a new position in istar Inc (NYSE:STAR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 97,575 shares of the real estate investment trust’s stock, valued at approximately $1,053,000. Chicago Equity Partners LLC owned approximately 0.14% of istar at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Orinda Asset Management LLC purchased a new stake in istar in the 2nd quarter worth approximately $836,000. Affinity Investment Advisors LLC boosted its position in istar by 43.8% in the 1st quarter. Affinity Investment Advisors LLC now owns 29,965 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 9,122 shares in the last quarter. Element Capital Management LLC purchased a new stake in istar in the 1st quarter worth approximately $327,000. Stevens Capital Management LP boosted its position in istar by 114.6% in the 2nd quarter. Stevens Capital Management LP now owns 25,345 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 13,533 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in istar by 1.4% in the 1st quarter. Wells Fargo & Company MN now owns 506,678 shares of the real estate investment trust’s stock worth $5,154,000 after purchasing an additional 6,973 shares in the last quarter. Institutional investors and hedge funds own 82.75% of the company’s stock.
istar stock opened at $11.04 on Thursday. 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 Inc has a 12 month low of $9.75 and a 12 month high of $12.22. The company has a market capitalization of $760.56 million, a price-to-earnings ratio of 4.78 and a beta of 0.97.
istar (NYSE:STAR) last released its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.18. istar had a return on equity of 9.50% and a net margin of 11.28%. The business had revenue of $171.57 million for the quarter, compared to analyst estimates of $119.30 million. During the same quarter in the prior year, the firm posted $2.28 EPS. The business’s quarterly revenue was down 50.7% compared to the same quarter last year. sell-side analysts expect that istar Inc will post 2.74 earnings per share for the current year.
The firm also recently announced an annual dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were paid a dividend of $0.09 per share. This represents a dividend yield of 0.82%. The ex-dividend date was Tuesday, August 14th. istar’s payout ratio is 15.58%.
Separately, ValuEngine upgraded istar from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 5th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $14.00.
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.
Featured Story: Momentum Indicator: Relative Strength Index
Receive News & Ratings for istar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for istar and related companies with MarketBeat.com's FREE daily email newsletter.