Equities research analysts forecast that iStar Inc. (NYSE:STAR) will announce sales of $101.17 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for iStar’s earnings, with the highest sales estimate coming in at $102.60 million and the lowest estimate coming in at $99.73 million. iStar posted sales of $146.02 million in the same quarter last year, which would suggest a negative year over year growth rate of 30.7%. The company is expected to announce its next earnings report on Tuesday, February 22nd.
On average, analysts expect that iStar will report full-year sales of $515.58 million for the current fiscal year, with estimates ranging from $514.06 million to $517.10 million. For the next year, analysts expect that the business will report sales of $367.74 million, with estimates ranging from $344.37 million to $391.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow iStar.
iStar (NYSE:STAR) last issued its quarterly earnings data on Tuesday, November 2nd. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $1.48. iStar had a net margin of 18.97% and a return on equity of 10.15%. During the same quarter last year, the business earned ($0.03) EPS.
In related news, major shareholder Istar Inc. acquired 10,280 shares of the stock in a transaction dated Thursday, October 14th. The stock was acquired at an average cost of $75.97 per share, for a total transaction of $780,971.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.23% of the company’s stock.
Several hedge funds have recently modified their holdings of STAR. Sandy Spring Bank acquired a new position in shares of iStar in the 2nd quarter worth approximately $33,000. Capital Analysts LLC acquired a new position in shares of iStar in the 3rd quarter worth approximately $38,000. Fifth Third Bancorp acquired a new position in shares of iStar in the 2nd quarter worth approximately $111,000. US Bancorp DE lifted its holdings in shares of iStar by 239.6% in the 3rd quarter. US Bancorp DE now owns 5,155 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 3,637 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of iStar in the 1st quarter worth approximately $185,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.
STAR stock traded up $0.55 during trading on Friday, hitting $25.00. 358,245 shares of the company’s stock traded hands, compared to its average volume of 649,516. The firm has a market capitalization of $1.79 billion, a P/E ratio of 25.77 and a beta of 0.74. The business has a fifty day simple moving average of $25.37 and a two-hundred day simple moving average of $23.12. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 3.22. iStar has a 1 year low of $13.93 and a 1 year high of $27.75.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be paid a $0.125 dividend. The ex-dividend date is Tuesday, November 30th. This represents a $0.50 annualized dividend and a yield of 2.00%. iStar’s dividend payout ratio (DPR) is 51.55%.
iStar, Inc is a real estate investment trust company, which engages in financing, investing, and development of real estate and related projects. It operates through the following business segments: Real Estate Finance, Net Lease, Operating Properties, Land and Development, and Corporate and Other. The Real Estate Finance segment includes all of the activities of the company related to senior and mezzanine real estate loans and real estate related securities.
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