istar Inc (NYSE:STAR) has earned a consensus rating of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

Separately, ValuEngine upgraded istar from a “strong sell” rating to a “sell” rating in a report on Thursday, July 5th.

Shares of STAR stock opened at $11.29 on Tuesday. The company has a market capitalization of $766.68 million, a price-to-earnings ratio of 4.89 and a beta of 0.97. The company has a quick ratio of 8.43, a current ratio of 8.43 and a debt-to-equity ratio of 3.20. istar has a fifty-two week low of $9.75 and a fifty-two week high of $12.22.

istar (NYSE:STAR) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.18. The business had revenue of $171.57 million during the quarter, compared to the consensus estimate of $119.30 million. istar had a return on equity of 9.50% and a net margin of 11.28%. The firm’s revenue for the quarter was down 50.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.28 earnings per share. research analysts anticipate that istar will post 2.74 earnings per share for the current year.

The firm also recently announced an annual dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were issued a $0.09 dividend. The ex-dividend date was Tuesday, August 14th. This represents a yield of 0.82%. istar’s payout ratio is currently 15.58%.

In other istar news, major shareholder Istar Inc. bought 129,600 shares of the stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $16.35 per share, for a total transaction of $2,118,960.00. Following the completion of the acquisition, the insider now owns 7,387,410 shares in the company, valued at approximately $120,784,153.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.01% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in istar by 717.2% in the second quarter. Jane Street Group LLC now owns 90,573 shares of the real estate investment trust’s stock valued at $977,000 after acquiring an additional 79,490 shares during the period. Millennium Management LLC purchased a new position in shares of istar during the second quarter valued at approximately $2,084,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of istar by 58.5% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 110,500 shares of the real estate investment trust’s stock valued at $1,192,000 after buying an additional 40,800 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of istar during the second quarter valued at approximately $1,152,000. Finally, Citadel Advisors LLC boosted its position in shares of istar by 86.5% during the second quarter. Citadel Advisors LLC now owns 181,471 shares of the real estate investment trust’s stock valued at $1,958,000 after buying an additional 84,178 shares during the last quarter. 82.75% of the stock is owned by hedge funds and other institutional investors.

istar 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 $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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