istar Inc (NYSE:STAR) has been given a consensus recommendation of “Hold” by the six analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.00.
Separately, ValuEngine cut istar from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd.
In other istar news, major shareholder Istar Inc. bought 129,600 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were bought at an average cost of $16.35 per share, with a total value of $2,118,960.00. Following the transaction, the insider now directly owns 7,387,410 shares in the company, valued at approximately $120,784,153.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.01% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC acquired a new position in shares of istar in the 1st quarter valued at approximately $147,000. SG Americas Securities LLC acquired a new position in shares of istar in the 2nd quarter valued at approximately $147,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of istar in the 1st quarter valued at approximately $238,000. Stevens Capital Management LP raised its position in shares of 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 valued at $273,000 after purchasing an additional 13,533 shares in the last quarter. Finally, Element Capital Management LLC acquired a new position in shares of istar in the 1st quarter valued at approximately $327,000. 82.74% of the stock is currently owned by institutional investors.
NYSE STAR traded down $0.05 on Tuesday, reaching $11.14. The company had a trading volume of 474,800 shares, compared to its average volume of 626,164. The stock has a market cap of $775.52 million, a PE ratio of 4.82 and a beta of 0.97. istar has a 1 year low of $9.75 and a 1 year high of $12.22. The company has a quick ratio of 8.43, a current ratio of 8.43 and a debt-to-equity ratio of 3.20.
istar (NYSE:STAR) last released its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.18. The firm had revenue of $171.57 million during the quarter, compared to analysts’ expectations of $119.30 million. istar had a return on equity of 9.50% and a net margin of 11.28%. istar’s quarterly revenue was down 50.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.28 EPS. sell-side analysts anticipate that istar will post 2.74 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were given a $0.09 dividend. This represents a dividend yield of 0.82%. The ex-dividend date was Tuesday, August 14th. istar’s payout ratio is 15.58%.
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.
Further Reading: Diversification
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