iStar Financial’s (STAR) “Hold” Rating Reiterated at Keefe, Bruyette & Woods
iStar Financial Inc. (NYSE:STAR)‘s stock had its “hold” rating reiterated by research analysts at Keefe, Bruyette & Woods in a research note issued to investors on Thursday. They currently have a $14.00 price target on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 20.59% from the company’s current price.
Several other analysts have also weighed in on STAR. ValuEngine raised iStar Financial from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. BidaskClub lowered iStar Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, TheStreet raised iStar Financial from a “d+” rating to a “c” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.00.
Shares of iStar Financial (NYSE STAR) traded up 0.96% during mid-day trading on Thursday, hitting $11.61. The company had a trading volume of 455,985 shares. iStar Financial has a 52-week low of $10.19 and a 52-week high of $12.83. The stock’s 50-day moving average is $11.91 and its 200-day moving average is $11.99. The stock has a market cap of $838.13 million, a price-to-earnings ratio of 6.32 and a beta of 1.29.
iStar Financial (NYSE:STAR) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing the Thomson Reuters’ 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 analysts forecast that iStar Financial will post $3.18 earnings per share for the current year.
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In related news, major shareholder Istar Inc. bought 7,840 shares of the stock in a transaction dated Monday, July 24th. The stock was bought at an average cost of $19.48 per share, with a total value of $152,723.20. Following the completion of the acquisition, the insider now owns 5,044,600 shares of the company’s stock, valued at $98,268,808. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders purchased 702,364 shares of company stock valued at $13,331,890. 4.41% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in iStar Financial during the first quarter valued at approximately $111,000. KBC Group NV raised its position in iStar Financial by 88.2% in the first quarter. KBC Group NV now owns 128,136 shares of the real estate investment trust’s stock valued at $1,512,000 after buying an additional 60,043 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in iStar Financial by 5.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 141,555 shares of the real estate investment trust’s stock valued at $1,670,000 after buying an additional 6,961 shares during the period. Great Lakes Advisors LLC raised its position in iStar Financial by 22.0% in the first quarter. Great Lakes Advisors LLC now owns 119,366 shares of the real estate investment trust’s stock valued at $1,409,000 after buying an additional 21,490 shares during the period. Finally, Virginia Retirement Systems ET AL raised its position in iStar Financial by 2,567.1% in the first quarter. Virginia Retirement Systems ET AL now owns 274,707 shares of the real estate investment trust’s stock valued at $3,242,000 after buying an additional 264,407 shares during the period. 83.41% of the stock is owned by institutional investors.
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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