istar Inc (NYSE:STAR) shares hit a new 52-week low on Thursday . The stock traded as low as $8.37 and last traded at $8.39, with a volume of 979239 shares. The stock had previously closed at $8.44.
Several brokerages have weighed in on STAR. JMP Securities raised shares of istar from a “market perform” rating to an “outperform” rating and set a $11.50 price objective for the company in a report on Monday, December 31st. ValuEngine raised shares of istar from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Finally, Zacks Investment Research raised shares of istar from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Five analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $11.75.
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The company has a debt-to-equity ratio of 3.05, a quick ratio of 7.34 and a current ratio of 7.34. The firm has a market capitalization of $570.25 million, a price-to-earnings ratio of -8.83 and a beta of 1.03.
istar (NYSE:STAR) last posted its quarterly earnings results on Monday, February 25th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.22. istar had a net margin of 10.29% and a return on equity of 11.04%. During the same period in the prior year, the company posted $0.40 EPS. On average, research analysts anticipate that istar Inc will post -0.7 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Monday, March 4th will be given a $0.09 dividend. The ex-dividend date is Friday, March 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.29%. istar’s payout ratio is currently -37.89%.
In other istar news, major shareholder Istar Inc. purchased 2,341 shares of istar stock in a transaction dated Thursday, March 7th. The shares were bought at an average cost of $19.37 per share, for a total transaction of $45,345.17. Following the transaction, the insider now owns 7,726,973 shares in the company, valued at approximately $149,671,467.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders bought 89,601 shares of company stock worth $1,719,373. Insiders own 5.01% of the company’s stock.
Several institutional investors have recently bought and sold shares of STAR. Geode Capital Management LLC lifted its position in istar by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 706,431 shares of the real estate investment trust’s stock valued at $6,477,000 after purchasing an additional 30,935 shares during the last quarter. Norges Bank bought a new stake in istar in the 4th quarter valued at about $7,982,000. HRT Financial LLC bought a new stake in istar in the 4th quarter valued at about $135,000. Municipal Employees Retirement System of Michigan bought a new stake in istar in the 4th quarter valued at about $180,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in istar by 322.3% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 20,151 shares of the real estate investment trust’s stock valued at $185,000 after purchasing an additional 15,379 shares during the last quarter. Institutional investors own 90.41% of the company’s stock.
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About istar (NYSE:STAR)
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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