iStar Inc. (NYSE:STAR) Receives Consensus Recommendation of “Buy” from Analysts

iStar Inc. (NYSE:STARGet Rating) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.00.

Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of iStar from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. StockNews.com raised shares of iStar from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. TheStreet raised shares of iStar from a “d+” rating to a “c-” rating in a research report on Tuesday, May 3rd. Finally, Raymond James reduced their price objective on shares of iStar from $33.00 to $21.00 in a research report on Tuesday, May 24th.

Several institutional investors have recently added to or reduced their stakes in STAR. Invesco Ltd. lifted its stake in shares of iStar by 3.2% during the 3rd quarter. Invesco Ltd. now owns 676,963 shares of the real estate investment trust’s stock valued at $16,978,000 after buying an additional 21,171 shares in the last quarter. GSA Capital Partners LLP lifted its stake in iStar by 98.0% in the 4th quarter. GSA Capital Partners LLP now owns 49,209 shares of the real estate investment trust’s stock worth $1,271,000 after purchasing an additional 24,352 shares in the last quarter. Marshall Wace LLP purchased a new stake in iStar in the 3rd quarter worth approximately $4,448,000. UBS Asset Management Americas Inc. lifted its stake in iStar by 0.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 83,463 shares of the real estate investment trust’s stock worth $2,093,000 after purchasing an additional 429 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in iStar by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 866,736 shares of the real estate investment trust’s stock worth $21,736,000 after purchasing an additional 53,200 shares in the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:STAR traded down $0.83 during midday trading on Wednesday, hitting $16.50. 24,780 shares of the company’s stock were exchanged, compared to its average volume of 1,040,197. The company has a debt-to-equity ratio of 1.17, a current ratio of 9.22 and a quick ratio of 9.22. The stock 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 cap of $1.37 billion, a PE ratio of 1.62 and a beta of 0.89. iStar has a 12 month low of $15.10 and a 12 month high of $27.75.

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

iStar Company Profile (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.

Featured Articles

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.