istar (NYSE:STAR) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 2nd.
STAR has been the topic of a number of other research reports. BidaskClub downgraded shares of istar from a “sell” rating to a “strong sell” rating in a report on Monday, October 23rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $14.00 price target on shares of istar in a report on Thursday, October 12th. Finally, TheStreet downgraded shares of istar from a “c” rating to a “d” rating in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.00.
Shares of istar (NYSE STAR) traded up $0.04 during trading hours on Friday, hitting $10.42. 385,642 shares of the company’s stock were exchanged, compared to its average volume of 644,321. The firm has a market cap of $710.64, a price-to-earnings ratio of 5.54 and a beta of 1.02. istar has a 52 week low of $9.75 and a 52 week high of $12.68. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76.
istar announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In related news, Director Dale Ann Reiss sold 17,595 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $11.70, for a total transaction of $205,861.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Istar Inc. purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average cost of $18.31 per share, with a total value of $183,100.00. Following the completion of the purchase, the insider now owns 6,406,722 shares of the company’s stock, valued at $117,307,079.82. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 538,336 shares of company stock worth $9,649,589. 4.41% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Quantbot Technologies LP increased its stake in istar by 410.1% in the second quarter. Quantbot Technologies LP now owns 8,550 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 6,874 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in shares of istar in the fourth quarter valued at approximately $102,000. Schroder Investment Management Group acquired a new position in shares of istar in the third quarter valued at approximately $108,000. Koch Industries Inc. acquired a new position in shares of istar in the fourth quarter valued at approximately $137,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of istar in the fourth quarter valued at approximately $144,000. 86.80% of the stock is owned by hedge funds and other institutional investors.
WARNING: “istar (STAR) Rating Lowered to Hold at ValuEngine” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.dispatchtribunal.com/2018/02/18/istar-star-downgraded-by-valuengine-to-hold.html.
iStar Inc finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s four business segments are Real Estate Finance, Net Lease, Operating Properties, and Land and Development. The Real Estate Finance portfolio consists of senior and mezzanine real estate loans that may be either fixed-rate or variable-rate.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for istar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for istar and related companies with MarketBeat.com's FREE daily email newsletter.