istar Inc (STAR) Given Consensus Recommendation of “Hold” by Brokerages

istar Inc (NYSE:STAR) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Zacks has also assigned istar an industry rank of 197 out of 265 based on the ratings given to related companies.

A number of research firms have commented on STAR. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 target price on shares of istar in a report on Thursday, October 12th. BidaskClub downgraded istar from a “sell” rating to a “strong sell” rating in a report on Monday, October 23rd. TheStreet downgraded istar from a “c” rating to a “d” rating in a report on Friday, November 17th. Finally, ValuEngine upgraded istar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th.

In related news, Director Dale Ann Reiss sold 17,595 shares of istar stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $11.70, for a total transaction of $205,861.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Istar Inc. acquired 12,747 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $17.93 per share, with a total value of $228,553.71. Following the transaction, the insider now owns 6,339,424 shares in the company, valued at approximately $113,665,872.32. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 626,557 shares of company stock valued at $9,291,057. Company insiders own 4.41% of the company’s stock.

A number of large investors have recently modified their holdings of STAR. Schwab Charles Investment Management Inc. boosted its stake in istar by 52.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 500,840 shares of the real estate investment trust’s stock worth $6,031,000 after buying an additional 171,856 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in istar by 9.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 437,418 shares of the real estate investment trust’s stock worth $5,267,000 after buying an additional 38,450 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in istar by 160.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,937 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 7,356 shares during the last quarter. Wells Fargo & Company MN boosted its stake in istar by 237.1% in the 2nd quarter. Wells Fargo & Company MN now owns 435,379 shares of the real estate investment trust’s stock worth $5,242,000 after buying an additional 306,243 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in istar by 21.0% in the 2nd quarter. Teachers Advisors LLC now owns 166,478 shares of the real estate investment trust’s stock worth $2,004,000 after buying an additional 28,846 shares during the last quarter. 87.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of istar (STAR) opened at $11.19 on Friday. istar has a fifty-two week low of $10.95 and a fifty-two week high of $12.68. The company has a debt-to-equity ratio of 4.76, a current ratio of 6.50 and a quick ratio of 6.50. The company has a market capitalization of $889.91, a price-to-earnings ratio of -21.11 and a beta of 1.26.

istar (NYSE:STAR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported ($0.09) EPS for the quarter. istar had a net margin of 24.13% and a return on equity of 19.57%.

istar declared that its Board of Directors has authorized a share repurchase plan on Thursday, December 14th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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istar Company Profile

iStar Inc finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s four business segments are Real Estate Finance, Net Lease, Operating Properties, and Land and Development. The Real Estate Finance portfolio consists of senior and mezzanine real estate loans that may be either fixed-rate or variable-rate.

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