iStar Financial Inc. (STAR) Lifted to “Sell” at BidaskClub
BidaskClub upgraded shares of iStar Financial Inc. (NYSE:STAR) from a strong sell rating to a sell rating in a report released on Wednesday.
Several other equities analysts have also weighed in on STAR. ValuEngine upgraded shares of iStar Financial from a hold rating to a buy rating in a report on Friday, June 23rd. Keefe, Bruyette & Woods reiterated a hold rating on shares of iStar Financial in a report on Friday, July 21st. Finally, TheStreet upgraded shares of iStar Financial from a d+ rating to a c rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has an average rating of Hold and an average target price of $14.00.
Shares of iStar Financial (NYSE:STAR) opened at 11.80 on Wednesday. The stock has a market capitalization of $851.84 million, a price-to-earnings ratio of 6.43 and a beta of 1.29. iStar Financial has a 52-week low of $10.45 and a 52-week high of $12.83. The company has a 50-day moving average of $11.67 and a 200-day moving average of $11.94.
iStar Financial (NYSE:STAR) last posted its earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.63). The firm had revenue of $347.87 million during the quarter. iStar Financial had a net margin of 32.82% and a return on equity of 22.21%. Equities research analysts anticipate that iStar Financial will post $3.11 EPS for the current year.
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In related news, major shareholder Istar Inc. purchased 11,760 shares of iStar Financial stock in a transaction dated Tuesday, July 25th. The shares were acquired at an average cost of $19.10 per share, with a total value of $224,616.00. Following the purchase, the insider now owns 5,044,600 shares of the company’s stock, valued at $96,351,860. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought a total of 819,104 shares of company stock worth $15,596,005 over the last three months. Insiders own 4.41% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in STAR. Russell Investments Group Ltd. raised its stake in shares of iStar Financial by 95.1% in the 1st quarter. Russell Investments Group Ltd. now owns 47,089 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 22,951 shares during the period. First Trust Advisors LP raised its stake in shares of iStar Financial by 137.7% in the 1st quarter. First Trust Advisors LP now owns 144,413 shares of the real estate investment trust’s stock valued at $1,704,000 after acquiring an additional 83,648 shares during the period. Karp Capital Management Corp purchased a new stake in shares of iStar Financial in the 1st quarter valued at approximately $493,000. Sei Investments Co. raised its stake in shares of iStar Financial by 43.9% in the 1st quarter. Sei Investments Co. now owns 9,017 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,749 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of iStar Financial by 8.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 185,734 shares of the real estate investment trust’s stock valued at $2,192,000 after acquiring an additional 14,857 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.
iStar Financial 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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