Analysts at B. Riley initiated coverage on shares of iStar (NYSE:STAR) in a report released on Wednesday, Price Targets.com reports. The brokerage set a "buy" rating on the real estate investment trust's stock.
A number of other equities research analysts also recently issued reports on the company. Raymond James boosted their price target on iStar from $19.00 to $25.00 and gave the company an "outperform" rating in a research report on Wednesday, March 3rd. Zacks Investment Research downgraded iStar from a "buy" rating to a "hold" rating in a research report on Saturday, June 19th.
Shares of NYSE:STAR traded up $0.01 during midday trading on Wednesday, reaching $20.48. The company's stock had a trading volume of 1,085,229 shares, compared to its average volume of 663,781. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -33.54 and a beta of 0.72. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.63 and a current ratio of 1.63. iStar has a 1 year low of $11.10 and a 1 year high of $20.70. The company's 50 day moving average is $17.93.
iStar (NYSE:STAR) last announced its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.30 EPS for the quarter, beating the Zacks' consensus estimate of ($0.16) by $0.46. iStar had a negative return on equity of 1.98% and a negative net margin of 4.55%. Analysts expect that iStar will post -0.47 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Veriti Management LLC acquired a new position in shares of iStar during the fourth quarter worth about $37,000. Acadian Asset Management LLC lifted its stake in shares of iStar by 25.6% in the first quarter. Acadian Asset Management LLC now owns 3,693 shares of the real estate investment trust's stock worth $66,000 after acquiring an additional 752 shares in the last quarter. Pinz Capital Management LP acquired a new position in shares of iStar in the first quarter worth about $135,000. Hsbc Holdings PLC acquired a new position in shares of iStar in the fourth quarter worth about $149,000. Finally, Quantbot Technologies LP acquired a new position in shares of iStar in the first quarter worth about $159,000. Institutional investors own 96.92% of the company's stock.
iStar Company Profile
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.
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