istar (STAR) Upgraded at ValuEngine

ValuEngine upgraded shares of istar (NYSE:STAR) from a sell rating to a hold rating in a report released on Friday.

Separately, Zacks Investment Research upgraded shares of istar from a hold rating to a buy rating and set a $12.00 price target for the company in a report on Thursday, October 11th.

STAR stock opened at $10.51 on Friday. The stock has a market capitalization of $714.34 million, a price-to-earnings ratio of 4.55 and a beta of 0.91. The company has a debt-to-equity ratio of 3.05, a current ratio of 7.34 and a quick ratio of 7.34. istar has a 12 month low of $9.75 and a 12 month high of $11.88.

istar (NYSE:STAR) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.10). The firm had revenue of $122.14 million for the quarter, compared to analyst estimates of $120.53 million. istar had a return on equity of 11.04% and a net margin of 10.29%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, sell-side analysts expect that istar will post 0.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.43%. istar’s dividend payout ratio is currently 15.58%.

In related news, Director Dale Anne Reiss acquired 4,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was purchased at an average price of $24.60 per share, with a total value of $98,400.00. Following the transaction, the director now owns 52,519 shares of the company’s stock, valued at approximately $1,291,967.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Istar Inc. acquired 8,200 shares of the stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $17.70 per share, with a total value of $145,140.00. Following the transaction, the insider now directly owns 7,456,140 shares in the company, valued at approximately $131,973,678. The disclosure for this purchase can be found here. Insiders have bought a total of 52,652 shares of company stock valued at $977,546 in the last 90 days. Insiders own 5.01% of the company’s stock.

Several large investors have recently bought and sold shares of STAR. SG Americas Securities LLC purchased a new position in shares of istar during the 2nd quarter worth approximately $147,000. Piedmont Investment Advisors Inc. boosted its position in shares of istar by 1,281.1% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 15,606 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 14,476 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of istar during the 3rd quarter worth approximately $181,000. Mcclain Value Management LLC purchased a new position in shares of istar during the 3rd quarter worth approximately $202,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of istar during the 3rd quarter worth approximately $244,000. 92.94% of the stock is owned by hedge funds and other institutional investors.

About istar

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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