istar Inc (NYSE:STAR) Declares $0.10 Quarterly Dividend
istar Inc (NYSE:STAR) announced a quarterly dividend on Friday, August 2nd, NASDAQ reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, August 14th.
istar has a payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect istar to earn ($1.02) per share next year, which means the company may not be able to cover its $0.40 annual dividend with an expected future payout ratio of -39.2%.
NYSE STAR traded up $0.04 on Monday, hitting $13.43. The company had a trading volume of 17,445 shares, compared to its average volume of 858,709. The stock has a market capitalization of $829.66 million, a P/E ratio of -14.14 and a beta of 0.69. The company’s fifty day moving average price is $12.74. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 2.35. istar has a 12-month low of $7.84 and a 12-month high of $13.75.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of istar from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a report on Wednesday, July 31st. TheStreet raised shares of istar from a “d+” rating to a “c” rating in a report on Thursday, August 1st. Raymond James upped their target price on shares of istar from $12.50 to $17.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, ValuEngine lowered shares of istar from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $14.50.
In other istar news, major shareholder Istar Inc. bought 4,730 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $33.25 per share, with a total value of $157,272.50. Following the completion of the acquisition, the insider now directly owns 20,758,893 shares of the company’s stock, valued at $690,233,192.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 174,383 shares of company stock valued at $5,239,405 in the last ninety days. Insiders own 5.24% of the company’s stock.
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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