istar (STAR) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of istar (NYSE:STAR) from a sell rating to a hold rating in a research note released on Monday, February 4th.

A number of other research firms have also recently commented on STAR. 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. JMP Securities upgraded shares of istar from a market perform rating to an outperform rating and set a $11.50 price objective for the company in a report on Monday, December 31st. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of Hold and a consensus price target of $11.75.

Shares of STAR traded up $0.03 during trading hours on Monday, hitting $8.69. 1,013,008 shares of the stock were exchanged, compared to its average volume of 384,192. istar has a fifty-two week low of $8.50 and a fifty-two week high of $11.44. The company has a quick ratio of 7.34, a current ratio of 7.34 and a debt-to-equity ratio of 3.05. The stock has a market cap of $683.08 million, a PE ratio of -9.15 and a beta of 1.03.

istar (NYSE:STAR) last posted its quarterly earnings data on Monday, February 25th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.22. istar had a net margin of 10.29% and a return on equity of 11.04%. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts anticipate that istar will post -0.7 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Monday, March 4th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, March 1st. istar’s dividend payout ratio is currently -37.89%.

In other istar news, major shareholder Istar Inc. acquired 4,005 shares of istar stock in a transaction dated Monday, December 10th. The stock was purchased at an average cost of $19.26 per share, for a total transaction of $77,136.30. Following the completion of the acquisition, the insider now directly owns 7,562,052 shares of the company’s stock, valued at $145,645,121.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought 87,381 shares of company stock valued at $1,674,587 over the last quarter. Corporate insiders own 5.01% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in STAR. Oregon Public Employees Retirement Fund bought a new position in shares of istar during the fourth quarter valued at about $26,000. PNC Financial Services Group Inc. lifted its position in shares of istar by 444.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,440 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 2,808 shares in the last quarter. Quantamental Technologies LLC bought a new stake in istar in the fourth quarter worth about $61,000. MML Investors Services LLC bought a new stake in istar in the fourth quarter worth about $92,000. Finally, HRT Financial LLC bought a new stake in istar in the fourth quarter worth about $135,000. 90.41% of the stock is currently owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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