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.

istar (NYSE:STAR) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $4.55 EPS for the quarter, topping the consensus estimate of ($0.30) by $4.85. The company had revenue of $98.47 million during the quarter, compared to analyst estimates of $97.50 million. istar had a net margin of 52.01% and a return on equity of 22.16%. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, equities research analysts predict that istar will post 3.89 EPS for the current fiscal year.

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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Dividend History for istar (NYSE:STAR)

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