iStar REIT
25 years of solving inefficiencies
We’ve long recognized that the capital markets, corporate credit markets and real estate markets are all just different sides of the same coin, yet they don’t always operate as efficiently as they should. Our business has always been about understanding where the inefficiencies lie and where gaps in the market exist—creating solutions to help fill those gaps.
iStar Inc. (NYSE: STAR) today reported results for the fourth quarter and fiscal year ended December 31, 2020.
iStar highlights include:
Net income (loss) per diluted common share of ($0.26) and ($0.87) for the three months and twelve months ended December 31, 2020, respectively
Adjusted earnings per diluted common share of $0.15 and $0.54 for the three months and twelve months ended December 31, 2020, respectively
Unrealized gain on Safehold investment increased by $1.0 billion in 2020 to $1.6 billion total
$191 million of legacy asset sales proceeds in 2020
20% net reduction of legacy asset portfolio in 2020
"Despite the meaningful challenges COVID created, iStar performed well in 2020 against the strategy we originally laid out two years ago: scale Safehold and the ground lease ecosystem, continue to enhance the strength and flexibility of our balance sheet, and simplify our business," said Jay Sugarman, Chairman and Chief Executive Officer. "As we look ahead, we are excited about the opportunity to continue to build on this momentum and realize its value for shareholders."
NEW YORK, Feb. 19, 2021 /PRNewswire/ -- iStar Inc. (NYSE: STAR) announced today that the Company's Board of Directors has declared quarterly dividends on the Company's Common Stock and Preferred Stock for the first quarter of 2021. The dividends are all payable on March 15, 2021 to holders of record on March 1, 2021. 11 cents per share.
Stumbled across this joint while research some other stocks. This lowkey might be a gem. I'm not too invested in REIT knowledge, but I will say I like what I saw. Their portfolio looked pretty decent. You never know...Target price $19-$20. Highest it's ever been was $50's and it looks like they are taking a more innovative approach to the industry. I'll need to do more research.
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