istar Inc (STAR) Receives Consensus Rating of “Hold” from Brokerages

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Shares of istar Inc (NYSE:STAR) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.00.

Several analysts have weighed in on the company. ValuEngine raised istar from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research raised istar from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Thursday.

In other news, major shareholder Istar Inc. acquired 129,600 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were acquired at an average cost of $16.35 per share, with a total value of $2,118,960.00. Following the transaction, the insider now owns 7,387,410 shares in the company, valued at approximately $120,784,153.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.01% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in STAR. Bank of Montreal Can lifted its holdings in shares of istar by 156,666.0% during the third quarter. Bank of Montreal Can now owns 724,259 shares of the real estate investment trust’s stock valued at $8,090,000 after purchasing an additional 723,797 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of istar by 2,117.0% during the first quarter. JPMorgan Chase & Co. now owns 349,170 shares of the real estate investment trust’s stock valued at $3,551,000 after purchasing an additional 333,420 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of istar by 20.9% during the second quarter. Private Management Group Inc. now owns 1,798,582 shares of the real estate investment trust’s stock valued at $19,407,000 after purchasing an additional 310,476 shares during the last quarter. KBC Group NV lifted its holdings in shares of istar by 218.4% during the second quarter. KBC Group NV now owns 315,333 shares of the real estate investment trust’s stock valued at $3,402,000 after purchasing an additional 216,298 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of istar during the second quarter valued at approximately $2,084,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.

istar stock opened at $10.80 on Friday. The company has a current ratio of 8.43, a quick ratio of 8.43 and a debt-to-equity ratio of 3.20. The company has a market cap of $759.20 million, a price-to-earnings ratio of 4.68 and a beta of 0.94. istar has a fifty-two week low of $9.75 and a fifty-two week high of $12.20.

istar (NYSE:STAR) last posted its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.18. The business had revenue of $171.57 million for 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%. The business’s revenue was down 50.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 EPS. As a group, analysts forecast that istar will post 2.74 earnings per share for the current 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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