iStar Inc. (NYSE:STAR) traded today at a new 52-week high of $22.20. This new high was reached on below average trading volume as 357,000 shares traded hands, while the average 30-day volume is approximately 845,000 shares.
iStar Inc finances, invests in, and develops real estate and real estate-related projects. The company operates through four segments. The real estate finance segment comprises a portfolio of senior and subordinated loans secured by commercial real estate assets. The net lease segment is engaged in lease transactions across office, industrial, retail, hotel, entertainment, and other property types, primarily to corporate tenants. The operating properties segment owns, operates, and revitalises office, retail, and hotel properties. The land and development segment is engaged in land sales, as well as design, entitlement, and development of residential communities. The company’s primary source of revenue is net lease income.
Potential upside of 35.7% exists for iStar Inc., based on a current level of $21.98 and analysts’ average consensus price target of $29.83.
In the past 52 weeks, shares of iStar Inc. have traded between a low of $11.10 and a high of $22.20 and is now at $21.98, which is 98% above that low price.
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