Zacks: iStar Financial Inc. (STAR) Given Consensus Recommendation of “Hold” by Analysts
Shares of iStar Financial Inc. (NYSE:STAR) have received a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokerages have set a 12 month consensus target price of $13.00 for the company, according to Zacks. Zacks has also given iStar Financial an industry rank of 134 out of 265 based on the ratings given to its competitors.
iStar Financial (NYSE:STAR) opened at 12.23 on Monday. iStar Financial has a 12-month low of $7.59 and a 12-month high of $12.83. The stock’s 50 day moving average is $12.39 and its 200 day moving average is $11.14. The stock has a market capitalization of $870.48 million, a PE ratio of 15.62 and a beta of 1.63.
iStar Financial (NYSE:STAR) last issued its earnings results on Thursday, November 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.19. iStar Financial had a net margin of 22.55% and a return on equity of 17.13%. Equities analysts anticipate that iStar Financial will post $1.23 EPS for the current fiscal year.
In other iStar Financial news, insider Nina Matis sold 37,000 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $12.18, for a total transaction of $450,660.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robin Josephs sold 12,100 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $12.45, for a total transaction of $150,645.00. The disclosure for this sale can be found here. Company insiders own 4.76% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of STAR. BlackRock Fund Advisors boosted its stake in iStar Financial by 20.2% in the second quarter. BlackRock Fund Advisors now owns 3,509,202 shares of the company’s stock worth $33,653,000 after buying an additional 589,765 shares in the last quarter. Real Estate Management Services LLC boosted its stake in iStar Financial by 16.9% in the second quarter. Real Estate Management Services LLC now owns 3,013,100 shares of the company’s stock worth $28,896,000 after buying an additional 434,600 shares in the last quarter. Prudential Financial Inc. boosted its stake in iStar Financial by 213.5% in the second quarter. Prudential Financial Inc. now owns 229,054 shares of the company’s stock worth $2,197,000 after buying an additional 156,000 shares in the last quarter. DIAM Co. Ltd. purchased a new stake in iStar Financial during the third quarter worth $1,593,000. Finally, Diamond Hill Capital Management Inc. boosted its stake in iStar Financial by 1.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,471,854 shares of the company’s stock worth $80,173,000 after buying an additional 100,037 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.
About iStar Financial
iStar Inc, formerly iStar Financial Inc, finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s business segments include 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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