istar (NYSE:STAR) had its target price lifted by Raymond James from $12.50 to $17.00 in a report issued on Friday, BenzingaRatingsTable reports. They currently have an outperform rating on the real estate investment trust’s stock.
STAR has been the topic of a number of other research reports. Zacks Investment Research raised istar from a sell rating to a hold rating and set a $15.00 price objective on the stock in a research note on Wednesday, July 31st. ValuEngine raised istar from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $14.50.
Shares of STAR traded down $0.07 during trading hours on Friday, hitting $13.26. 8,007 shares of the stock were exchanged, compared to its average volume of 771,944. The company has a debt-to-equity ratio of 2.35, a quick ratio of 3.68 and a current ratio of 3.59. istar has a 12-month low of $7.84 and a 12-month high of $13.75. The firm has a market capitalization of $866.20 million, a P/E ratio of -13.96 and a beta of 0.69. The stock has a 50-day moving average price of $12.53.
istar (NYSE:STAR) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $4.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $4.85. The firm had revenue of $98.47 million during the quarter, compared to analysts’ expectations of $97.50 million. istar had a return on equity of 22.16% and a net margin of 52.01%. During the same period in the previous year, the business earned $0.55 earnings per share. On average, equities analysts forecast that istar will post -0.93 earnings per share for the current year.
In related news, major shareholder Istar Inc. bought 4,730 shares of istar stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $33.25 per share, for a total transaction of $157,272.50. Following the completion of the purchase, the insider now owns 20,758,893 shares in the company, valued at $690,233,192.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 182,673 shares of company stock valued at $5,462,619. 5.24% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its position in istar by 2.3% in the second quarter. Swiss National Bank now owns 126,800 shares of the real estate investment trust’s stock worth $1,575,000 after purchasing an additional 2,900 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of istar by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 60,469 shares of the real estate investment trust’s stock worth $751,000 after buying an additional 11,396 shares in the last quarter. Aperio Group LLC increased its holdings in shares of istar by 141.1% during the second quarter. Aperio Group LLC now owns 81,619 shares of the real estate investment trust’s stock worth $1,014,000 after buying an additional 47,772 shares in the last quarter. Optimum Investment Advisors acquired a new stake in shares of istar during the second quarter worth approximately $103,000. Finally, Quantitative Systematic Strategies LLC increased its holdings in shares of istar by 118.9% during the second quarter. Quantitative Systematic Strategies LLC now owns 41,596 shares of the real estate investment trust’s stock worth $517,000 after buying an additional 22,594 shares in the last quarter. Institutional investors and hedge funds own 89.94% 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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