Shares of istar Inc (NYSE:STAR) have earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $12.00.
A number of equities analysts recently weighed in on STAR shares. ValuEngine upgraded shares of istar from a “strong sell” rating to a “sell” rating in a report on Thursday, July 5th. Zacks Investment Research upgraded shares of istar from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday.
In related news, major shareholder Istar Inc. bought 129,600 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $16.35 per share, for a total transaction of $2,118,960.00. Following the purchase, the insider now owns 7,387,410 shares in the company, valued at $120,784,153.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. 5.01% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can grew its position in shares of istar by 156,666.0% during the 3rd quarter. Bank of Montreal Can now owns 724,259 shares of the real estate investment trust’s stock valued at $8,090,000 after acquiring an additional 723,797 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of istar during the 3rd quarter valued at $249,000. Jane Street Group LLC grew its position in shares of istar by 717.2% during the 2nd quarter. Jane Street Group LLC now owns 90,573 shares of the real estate investment trust’s stock valued at $977,000 after acquiring an additional 79,490 shares during the period. Millennium Management LLC bought a new stake in shares of istar during the 2nd quarter valued at $2,084,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of istar by 58.5% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 110,500 shares of the real estate investment trust’s stock valued at $1,192,000 after acquiring an additional 40,800 shares during the period. Institutional investors and hedge funds own 82.74% of the company’s stock.
Shares of NYSE STAR opened at $10.80 on Friday. istar has a twelve month low of $9.75 and a twelve month high of $12.20. The company has a market capitalization of $759.20 million, a P/E ratio of 4.68 and a beta of 0.94. 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 announced its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.18. istar had a net margin of 11.28% and a return on equity of 9.50%. The company had revenue of $171.57 million during the quarter, compared to analyst estimates of $119.30 million. During the same period in the previous year, the business earned $2.28 EPS. The firm’s revenue for the quarter was down 50.7% on a year-over-year basis. Sell-side analysts expect that istar will post 2.74 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.
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