istar (NYSE:STAR) was upgraded by research analysts at TheStreet from a “d+” rating to a “c” rating in a note issued to investors on Thursday, TheStreetRatingsTable reports.
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of istar from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research note on Wednesday. Raymond James raised their price objective on shares of istar from $12.50 to $17.00 and gave the company an “outperform” rating in a research note on Friday. Finally, ValuEngine cut shares of istar from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.50.
Shares of NYSE STAR traded down $0.16 during midday trading on Thursday, hitting $13.33. The company had a trading volume of 800,305 shares, compared to its average volume of 676,900. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.68 and a quick ratio of 3.68. istar has a twelve month low of $7.84 and a twelve month high of $13.75. The firm has a 50-day simple moving average of $12.53. The firm has a market cap of $853.96 million, a price-to-earnings ratio of -14.03 and a beta of 0.69.
istar (NYSE:STAR) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $4.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $4.85. istar had a negative net margin of 14.17% and a negative return on equity of 5.87%. The firm had revenue of $98.47 million during the quarter, compared to analysts’ expectations of $97.50 million. During the same quarter last year, the business earned $0.55 earnings per share. Research analysts forecast that istar will post -0.93 earnings per share for the current fiscal year.
In related news, major shareholder Istar Inc. acquired 2,690 shares of istar stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $27.51 per share, for a total transaction of $74,001.90. Following the completion of the purchase, the insider now directly owns 7,844,542 shares of the company’s stock, valued at $215,803,350.42. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders purchased 185,473 shares of company stock valued at $5,536,903 in the last quarter. Company insiders own 5.24% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in STAR. Geode Capital Management LLC raised its position in istar by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 706,431 shares of the real estate investment trust’s stock worth $6,477,000 after acquiring an additional 30,935 shares during the last quarter. Principal Financial Group Inc. raised its position in istar by 1.4% during the fourth quarter. Principal Financial Group Inc. now owns 556,743 shares of the real estate investment trust’s stock worth $5,105,000 after acquiring an additional 7,947 shares during the last quarter. Bank of America Corp DE raised its position in istar by 14.7% during the fourth quarter. Bank of America Corp DE now owns 270,335 shares of the real estate investment trust’s stock worth $2,479,000 after acquiring an additional 34,683 shares during the last quarter. MML Investors Services LLC acquired a new position in istar during the fourth quarter worth about $92,000. Finally, Metropolitan Life Insurance Co. NY raised its position in istar by 322.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,151 shares of the real estate investment trust’s stock worth $185,000 after acquiring an additional 15,379 shares during the last quarter. Institutional investors own 89.98% of the company’s stock.
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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