iStar Financial (STAR) Issues Quarterly Earnings Results

iStar Financial (NYSE:STAR) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.43, Briefing.com reports. iStar Financial had a return on equity of 28.34% and a net margin of 24.05%. The company had revenue of $364.25 million for the quarter, compared to analyst estimates of $109.35 million.

Shares of iStar Financial stock traded up $0.11 during trading hours on Friday, hitting $10.45. 501,934 shares of the company’s stock traded hands, compared to its average volume of 388,449. The company has a debt-to-equity ratio of 3.91, a current ratio of 8.28 and a quick ratio of 8.28. The company has a market capitalization of $698.36, a PE ratio of 4.52 and a beta of 0.93. iStar Financial has a twelve month low of $9.75 and a twelve month high of $12.68.

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Several institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL grew its stake in shares of iStar Financial by 8.0% during the first quarter. Virginia Retirement Systems ET AL now owns 68,900 shares of the real estate investment trust’s stock valued at $701,000 after acquiring an additional 5,100 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of iStar Financial by 21.9% during the third quarter. GSA Capital Partners LLP now owns 36,154 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 6,498 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of iStar Financial by 1.4% during the first quarter. Wells Fargo & Company MN now owns 506,678 shares of the real estate investment trust’s stock valued at $5,154,000 after acquiring an additional 6,973 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of iStar Financial by 5.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 161,792 shares of the real estate investment trust’s stock valued at $1,828,000 after acquiring an additional 8,789 shares in the last quarter. Finally, Glenmede Trust Co. NA acquired a new stake in shares of iStar Financial during the fourth quarter valued at about $102,000. Institutional investors own 88.37% of the company’s stock.

Several research analysts have commented on STAR shares. ValuEngine raised iStar Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. Raymond James started coverage on iStar Financial in a research report on Tuesday, March 27th. They issued a “market perform” rating on the stock. Finally, UBS started coverage on iStar Financial in a research report on Tuesday, March 27th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. iStar Financial has an average rating of “Hold” and an average price target of $14.00.

iStar Financial 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 more than $35 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.

Earnings History for iStar Financial (NYSE:STAR)

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