iStar Inc. (NYSE:STAR) Receives $30.00 Consensus Target Price from Brokerages

iStar Inc. (NYSE:STARGet Rating) has earned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.00.

STAR has been the subject of several analyst reports. TheStreet upgraded iStar from a “d+” rating to a “c-” rating in a research note on Tuesday, May 3rd. Raymond James lowered their target price on iStar from $33.00 to $21.00 in a report on Tuesday, May 24th. StockNews.com raised iStar from a “sell” rating to a “hold” rating in a research note on Monday, May 30th. Finally, Zacks Investment Research raised iStar from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th.

A number of institutional investors have recently made changes to their positions in the business. National Bank of Canada FI raised its stake in shares of iStar by 207.8% in the 1st quarter. National Bank of Canada FI now owns 1,062 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 717 shares in the last quarter. Versant Capital Management Inc grew its stake in iStar by 87.7% in the first quarter. Versant Capital Management Inc now owns 2,877 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 1,344 shares in the last quarter. US Bancorp DE grew its stake in iStar by 239.6% in the third quarter. US Bancorp DE now owns 5,155 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 3,637 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of iStar in the first quarter worth about $145,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of iStar in the fourth quarter worth about $203,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

NYSE STAR traded down $0.83 during trading on Wednesday, hitting $16.50. The stock had a trading volume of 24,780 shares, compared to its average volume of 1,040,197. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 1.17. iStar has a twelve month low of $15.10 and a twelve month high of $27.75. The firm has a 50 day moving average price of $18.56 and a 200 day moving average price of $22.26. The company has a market capitalization of $1.37 billion, a PE ratio of 1.62 and a beta of 0.89.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, May 31st. This represents a $0.50 dividend on an annualized basis and a yield of 3.03%. iStar’s dividend payout ratio is currently 4.90%.

About iStar (Get Rating)

iStar Inc (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on all types of properties. As the founder, investment manager and largest shareholder of Safehold Inc (NYSE: SAFE), the first publicly traded company to focus on modern ground leases, iStar is helping create a logical new approach to the way real estate is owned, and continues to use its historic strengths in finance and net lease to expand this unique platform.

Read More

Want More Great Investing Ideas?

Receive News & Ratings for iStar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iStar and related companies with MarketBeat.com's FREE daily email newsletter.