istar Inc (STAR) Expected to Announce Earnings of $0.27 Per Share

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Wall Street brokerages expect that istar Inc (NYSE:STAR) will report $0.27 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for istar’s earnings. istar posted earnings of $0.55 per share in the same quarter last year, which would indicate a negative year over year growth rate of 50.9%. The business is scheduled to announce its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that istar will report full year earnings of $1.06 per share for the current year. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow istar.

istar (NYSE:STAR) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). istar had a negative return on equity of 5.87% and a negative net margin of 14.17%. The company had revenue of $106.80 million for the quarter, compared to the consensus estimate of $125.90 million. During the same quarter last year, the company posted $0.35 EPS. The company’s quarterly revenue was down 70.7% compared to the same quarter last year.

Several equities research analysts recently issued reports on the company. JMP Securities downgraded istar from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. ValuEngine upgraded istar from a “sell” rating to a “hold” rating in a report on Monday, February 4th.

In other istar news, major shareholder Istar Inc. acquired 2,488 shares of the business’s stock in a transaction on Thursday, February 21st. The shares were acquired at an average price of $19.33 per share, with a total value of $48,093.04. Following the completion of the transaction, the insider now owns 7,700,846 shares in the company, valued at $148,857,353.18. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 87,167 shares of company stock worth $1,955,208. Insiders own 5.24% of the company’s stock.

A number of hedge funds have recently bought and sold shares of STAR. Norges Bank purchased a new position in istar in the fourth quarter worth $7,982,000. Vanguard Group Inc boosted its position in istar by 6.4% in the third quarter. Vanguard Group Inc now owns 9,988,284 shares of the real estate investment trust’s stock worth $111,570,000 after purchasing an additional 603,017 shares during the last quarter. Vanguard Group Inc. boosted its position in istar by 6.4% in the third quarter. Vanguard Group Inc. now owns 9,988,284 shares of the real estate investment trust’s stock worth $111,570,000 after purchasing an additional 603,017 shares during the last quarter. Bank of New York Mellon Corp boosted its position in istar by 145.2% in the third quarter. Bank of New York Mellon Corp now owns 799,850 shares of the real estate investment trust’s stock worth $8,934,000 after purchasing an additional 473,697 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in istar in the fourth quarter worth $26,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

istar stock traded down $0.05 during trading on Friday, hitting $8.69. 5,837 shares of the company were exchanged, compared to its average volume of 507,021. istar has a 52 week low of $7.84 and a 52 week high of $11.44. The company has a market capitalization of $564.78 million, a P/E ratio of -9.13 and a beta of 1.00. The company has a current ratio of 3.68, a quick ratio of 3.68 and a debt-to-equity ratio of 3.07.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.40 annualized dividend and a yield of 4.60%. This is a boost from istar’s previous quarterly dividend of $0.09. istar’s payout ratio is currently -42.11%.

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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