istar (NYSE:STAR) is set to post its quarterly earnings results before the market opens on Monday, February 26th. Analysts expect istar to post earnings of $0.40 per share for the quarter.
istar (NYSE:STAR) opened at $10.42 on Monday. istar has a fifty-two week low of $9.75 and a fifty-two week high of $12.68. The company has a market cap of $710.64, a PE ratio of 11.45 and a beta of 1.02. 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 declared that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, major shareholder Istar Inc. purchased 9,854 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average cost of $18.57 per share, for a total transaction of $182,988.78. Following the completion of the acquisition, the insider now owns 6,426,225 shares in the company, valued at approximately $119,334,998.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dale Ann Reiss sold 17,595 shares of the firm’s stock in a transaction that occurred on 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. Over the last quarter, insiders acquired 528,336 shares of company stock valued at $9,466,489. Corporate insiders own 4.41% of the company’s stock.
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istar Company Profile
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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