istar (NYSE:STAR) Issues Earnings Results

istar (NYSE:STAR) issued its quarterly earnings data on Thursday. The real estate investment trust reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $4.85, Briefing.com reports. istar had a negative net margin of 14.17% and a negative return on equity of 5.87%. The firm had revenue of $98.47 million for the quarter, compared to analyst estimates of $97.50 million. During the same quarter in the prior year, the firm earned $0.55 EPS.

Shares of NYSE STAR traded down $0.16 during mid-day trading on Friday, hitting $13.33. The company’s stock had a trading volume of 794,688 shares, compared to its average volume of 704,421. The stock has a market capitalization of $848.78 million, a PE ratio of -14.03 and a beta of 0.70. The company has a current ratio of 3.68, a quick ratio of 3.68 and a debt-to-equity ratio of 3.07. istar has a one year low of $7.84 and a one year high of $13.75. The company has a fifty day simple moving average of $12.53.

In other istar news, major shareholder Istar Inc. bought 2,800 shares of istar stock in a transaction dated Wednesday, May 8th. The shares were bought at an average price of $26.33 per share, with a total value of $73,724.00. Following the purchase, the insider now owns 7,839,052 shares of the company’s stock, valued at $206,402,239.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders bought a total of 185,473 shares of company stock worth $5,536,903 in the last ninety days. Insiders own 5.24% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in istar by 2.3% in the second quarter. Swiss National Bank now owns 126,800 shares of the real estate investment trust’s stock valued at $1,575,000 after purchasing an additional 2,900 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in istar by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 60,469 shares of the real estate investment trust’s stock worth $751,000 after acquiring an additional 11,396 shares in the last quarter. Aperio Group LLC raised its stake in istar by 141.1% during the second quarter. Aperio Group LLC now owns 81,619 shares of the real estate investment trust’s stock worth $1,014,000 after acquiring an additional 47,772 shares in the last quarter. Optimum Investment Advisors acquired a new position in istar during the second quarter worth about $103,000. Finally, Quantitative Systematic Strategies LLC raised its stake in istar by 118.9% during the second quarter. Quantitative Systematic Strategies LLC now owns 41,596 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 22,594 shares in the last quarter. 89.98% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on STAR. Raymond James increased their price objective on shares of istar from $12.50 to $17.00 and gave the stock an “outperform” rating in a report on Friday. ValuEngine raised shares of istar from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research raised shares of istar from a “sell” rating to a “hold” rating in a research note on Wednesday.

istar Company Profile

iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and $40 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.

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Earnings History for istar (NYSE:STAR)

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