istar (NYSE:STAR) Shares Up 13.2%

Shares of istar Inc (NYSE:STAR) shot up 13.2% during mid-day trading on Monday . The company traded as high as $8.15 and last traded at $7.63, 1,048,935 shares were traded during trading. A decline of 4% from the average session volume of 1,097,104 shares. The stock had previously closed at $6.74.

A number of research firms have issued reports on STAR. Raymond James boosted their price target on istar from $16.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Zacks Investment Research upgraded istar from a “sell” rating to a “hold” rating in a research note on Tuesday, March 24th.

The stock has a 50 day simple moving average of $12.68 and a 200 day simple moving average of $13.32. The company has a market cap of $522.28 million, a price-to-earnings ratio of 2.21 and a beta of 0.88. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 2.76.

istar (NYSE:STAR) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported ($0.44) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.46). The company had revenue of $128.89 million for the quarter, compared to analyst estimates of $96.50 million. istar had a return on equity of 26.62% and a net margin of 67.57%. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, equities research analysts expect that istar Inc will post -0.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend was Friday, February 28th. istar’s dividend payout ratio (DPR) is 10.72%.

Large investors have recently added to or reduced their stakes in the stock. Keebeck Wealth Management LLC acquired a new position in shares of istar in the fourth quarter worth about $36,000. PNC Financial Services Group Inc. lifted its stake in shares of istar by 20.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,190 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 725 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of istar by 31.7% in the third quarter. Public Employees Retirement System of Ohio now owns 4,306 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 1,036 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of istar in the fourth quarter worth about $127,000. Finally, Victory Capital Management Inc. lifted its stake in shares of istar by 8.2% in the fourth quarter. Victory Capital Management Inc. now owns 9,329 shares of the real estate investment trust’s stock worth $135,000 after acquiring an additional 709 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

istar Company Profile (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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