Media stories about istar (NYSE:STAR) have been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern rates the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. istar earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned media headlines about the real estate investment trust an impact score of 44.7994503401525 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Shares of istar (NYSE STAR) traded up $0.04 during mid-day trading on Friday, hitting $10.42. 385,642 shares of the stock traded hands, compared to its average volume of 644,321. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76. istar has a twelve month low of $9.75 and a twelve month high of $12.68. The company has a market capitalization of $710.64, a PE ratio of 11.45 and a beta of 1.02.
istar declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
A number of analysts have recently commented on STAR shares. TheStreet downgraded istar from a “c” rating to a “d” rating in a report on Friday, November 17th. ValuEngine cut shares of istar from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, BidaskClub cut shares of istar from a “sell” rating to a “strong sell” rating in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.00.
In related news, major shareholder Istar Inc. purchased 10,000 shares of istar stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $18.31 per share, with a total value of $183,100.00. Following the completion of the transaction, the insider now owns 6,406,722 shares of the company’s stock, valued at approximately $117,307,079.82. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dale Ann Reiss sold 17,595 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $11.70, for a total transaction of $205,861.50. The disclosure for this sale can be found here. Insiders have bought 538,336 shares of company stock worth $9,649,589 in the last ninety days. Corporate insiders own 4.41% of the company’s stock.
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iStar Inc finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s four business segments are Real Estate Finance, Net Lease, Operating Properties, and Land and Development. The Real Estate Finance portfolio consists of senior and mezzanine real estate loans that may be either fixed-rate or variable-rate.
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