GSA Capital Partners LLP Increases Holdings in istar Inc (STAR)
GSA Capital Partners LLP raised its holdings in shares of istar Inc (NYSE:STAR) by 324.1% in the second quarter, Holdings Channel reports. The institutional investor owned 48,552 shares of the real estate investment trust’s stock after acquiring an additional 37,104 shares during the period. GSA Capital Partners LLP’s holdings in istar were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in STAR. Private Management Group Inc. increased its holdings in istar by 50.0% during the first quarter. Private Management Group Inc. now owns 1,488,106 shares of the real estate investment trust’s stock valued at $15,134,000 after buying an additional 495,946 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in istar by 2,117.0% during the first quarter. JPMorgan Chase & Co. now owns 349,170 shares of the real estate investment trust’s stock valued at $3,551,000 after buying an additional 333,420 shares during the last quarter. UBS Group AG increased its holdings in istar by 4.6% during the first quarter. UBS Group AG now owns 5,734,577 shares of the real estate investment trust’s stock valued at $58,320,000 after buying an additional 249,794 shares during the last quarter. KBC Group NV increased its holdings in istar by 218.4% during the second quarter. KBC Group NV now owns 315,333 shares of the real estate investment trust’s stock valued at $3,402,000 after buying an additional 216,298 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in istar by 124.1% during the second quarter. State Board of Administration of Florida Retirement System now owns 260,621 shares of the real estate investment trust’s stock valued at $2,812,000 after buying an additional 144,311 shares during the last quarter. 82.75% of the stock is owned by institutional investors and hedge funds.
Separately, ValuEngine raised shares of istar from a “strong sell” rating to a “sell” rating in a report on Thursday, July 5th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $14.00.
STAR opened at $11.16 on Monday. The company has a market capitalization of $751.73 million, a price-to-earnings ratio of 4.83 and a beta of 0.97. istar Inc has a 1-year low of $9.75 and a 1-year high of $12.22. The company has a debt-to-equity ratio of 3.20, a current ratio of 8.43 and a quick ratio of 8.43.
istar (NYSE:STAR) last posted its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.18. The business had revenue of $171.57 million during the quarter, compared to analyst estimates of $119.30 million. istar had a net margin of 11.28% and a return on equity of 9.50%. The company’s revenue was down 50.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 earnings per share. equities research analysts anticipate that istar Inc will post 2.74 earnings per share for the current fiscal year.
The company also recently declared an annual dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a dividend yield of 0.82%. istar’s payout ratio is currently 15.58%.
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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