Shares of istar Inc (NYSE:STAR) have earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $17.00.
Several research analysts have recently weighed in on the stock. ValuEngine downgraded shares of istar from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of istar from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd.
In other news, major shareholder Istar Inc. bought 7,500 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $34.56 per share, with a total value of $259,200.00. Following the completion of the transaction, the insider now directly owns 27,204,023 shares in the company, valued at approximately $940,171,034.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders bought 52,450 shares of company stock worth $1,789,128. 5.24% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STAR. Gradient Investments LLC acquired a new stake in shares of istar in the third quarter worth $29,000. Public Employees Retirement System of Ohio lifted its position in istar by 94.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,270 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,584 shares during the period. Tower Research Capital LLC TRC lifted its position in istar by 846.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,505 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 4,029 shares during the period. Bank of Montreal Can lifted its position in istar by 870.1% during the 2nd quarter. Bank of Montreal Can now owns 5,743 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 5,151 shares during the period. Finally, Anderson Fisher LLC acquired a new stake in shares of istar in the 2nd quarter valued at approximately $82,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE STAR traded down $0.02 during midday trading on Friday, reaching $14.02. The company’s stock had a trading volume of 9,378 shares, compared to its average volume of 737,274. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 2.97. The company has a 50 day moving average price of $13.50 and a 200 day moving average price of $12.97. istar has a one year low of $7.84 and a one year high of $14.60. The company has a market cap of $876.54 million, a price-to-earnings ratio of -14.79 and a beta of 0.68.
istar (NYSE:STAR) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.13). istar had a return on equity of 21.71% and a net margin of 51.92%. The business had revenue of $145.34 million during the quarter, compared to the consensus estimate of $106.65 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. Research analysts anticipate that istar will post 4.02 earnings per share for the current fiscal 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.
Featured Story: How can investors find ex-dividend dates?
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.