Breakeven Date Change • Mar 24
Forecast breakeven date pushed back to 2025 The analyst covering iStar previously expected the company to break even in 2024. New forecast suggests losses will reduce by 93% per year to 2024. The company is expected to make a profit of US$17.0m in 2025. Average annual earnings growth of 127% is required to achieve expected profit on schedule. Breakeven Date Change • Feb 23
Forecast breakeven date moved forward to 2023 The analyst covering iStar previously expected the company to break even in 2024. New forecast suggests the company will make a profit of US$5.00m in 2023. Earnings growth of 126% is required to achieve expected profit on schedule. Tillkännagivande • Feb 03
iStar Inc. to Report Q4, 2022 Results on Feb 21, 2023 iStar Inc. announced that they will report Q4, 2022 results Pre-Market on Feb 21, 2023 Breakeven Date Change • Jan 01
Forecast breakeven date pushed back to 2025 The analyst covering iStar previously expected the company to break even in 2022. New forecast suggests the company will make a profit of US$17.5m in 2025. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.14 (vs US$1.71 in 3Q 2021) Third quarter 2022 results: EPS: US$0.14 (down from US$1.71 in 3Q 2021). Revenue: US$105.6m (down 51% from 3Q 2021). Net income: US$12.1m (down 90% from 3Q 2021). Profit margin: 12% (down from 57% in 3Q 2021). Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the REITs industry in Europe are expected to grow by 4.7%. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Tillkännagivande • Oct 27
iStar Inc. to Report Q3, 2022 Results on Nov 03, 2022 iStar Inc. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 03, 2022 Upcoming Dividend • Aug 24
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 31 August 2022. Payment date: 15 September 2022. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.8%). Tillkännagivande • Aug 12
MSD Partners, L.P. entered into an agreement to acquire 8.7% stake in Safehold Inc. (NYSE:SAFE) from iStar Inc. (NYSE:STAR) for approximately $200 million. MSD Partners, L.P. entered into an agreement to acquire 8.7% stake in Safehold Inc. (NYSE:SAFE) from iStar Inc. (NYSE:STAR) for approximately $200 million on August 10, 2022. Under the terms of the transaction MSD will acquire 5,405,406 shares for an an aggregate purchase price of $200.000022, in cash, representing a per share price of $37. In related transactions, (i) MSD has entered into a subscription agreement to purchase "Caret Units," affiliate of Safehold; (ii) Safehold and iStar have entered into an agreement and plan of merger to form a combined company; and, (iii) certain legacy assets of the iStar will be spun off into a new public entity (the " Spin-Off"). Upon closing of the transaction, MSD Partners will have a right to designate an observer to the board of directors of New SAFE. The sale of the shares to MSD and the transaction contemplated by the Caret Subscription Agreement will take place in connection with the closing of the merger and Spin-Off transaction. If the merger is terminated for any reason, the parties’ obligations to consummate the purchase and sale will also terminate. The transaction is subject to the closing of the MSD Caret Purchase taking place substantially concurrently with the closing of the MSD Stock Purchase and other customary closing conditions. Bruce W. Gilchrist and Katherine Keeley of Hogan Lovells US LLP acted as legal advisor to MSD. Kathleen L. Werner of Clifford Chance US LLP acted as legal advisor to iStar. Eric L. Schiele, Michael P. Brueck and David L. Perechocky acted as legal advisors to Safehold. Reported Earnings • Aug 07
Second quarter 2022 earnings released: US$1.70 loss per share (vs US$0.58 loss in 2Q 2021) Second quarter 2022 results: US$1.70 loss per share (down from US$0.58 loss in 2Q 2021). Revenue: US$67.5m (up 3.2% from 2Q 2021). Net loss: US$138.5m (loss widened 225% from 2Q 2021). Over the next year, revenue is forecast to decline by 57% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Tillkännagivande • Jul 30
iStar Inc. to Report Q2, 2022 Results on Aug 04, 2022 iStar Inc. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Aug 04, 2022 Upcoming Dividend • May 24
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 15 June 2022. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (4.4%). Tillkännagivande • May 15
iStar Inc. Elects Barry W. Ridings as Director At the Annual General Meeting Held on May 12, 2022 iStar Inc. elected Barry W. Ridings as director at the Annual General Meeting held on May 12, 2022. Tillkännagivande • May 14
iStar Inc. Declares Quarterly Dividends for the Second Quarter of 2022, Payable June 15, 2022 iStar Inc. announced that the company's Board of Directors has declared quarterly dividends of $0.125 on the company's Common Stock for the second quarter of 2022. The dividends are all payable on June 15, 2022 to holders of record on June 1, 2022. Reported Earnings • May 06
First quarter 2022 earnings released: US$0.11 loss per share (vs US$0.005 loss in 1Q 2021) First quarter 2022 results: US$0.11 loss per share (down from US$0.005 loss in 1Q 2021). Revenue: US$32.0m (down 75% from 1Q 2021). Net loss: US$7.74m (loss widened US$7.34m from 1Q 2021). Over the next year, revenue is forecast to decline by 53% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Breakeven Date Change • Apr 27
Forecast breakeven date moved forward to 2022 The 2 analysts covering iStar previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of US$364.1m in 2022. Tillkännagivande • Apr 14
iStar Inc. to Report Q1, 2022 Results on May 03, 2022 iStar Inc. announced that they will report Q1, 2022 results Pre-Market on May 03, 2022 Tillkännagivande • Apr 02
iStar Inc., Annual General Meeting, May 12, 2022 iStar Inc., Annual General Meeting, May 12, 2022, at 09:00 US Eastern Standard Time. Agenda: To consider Election of six directors; to consider Non-binding, advisory vote to approve executive compensation; and to consider Ratification of the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2022. Breakeven Date Change • Mar 02
No longer forecast to breakeven The analyst covering iStar no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$46.7m in 2024. New forecast suggests the company will make a loss of US$43.6m in 2024. Breakeven Date Change • Feb 28
Forecast to breakeven in 2024 The 3 analysts covering iStar expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 74% per year to 2023. The company is expected to make a profit of US$46.7m in 2024. Average annual earnings growth of 61% is required to achieve expected profit on schedule. Reported Earnings • Feb 26
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.095 loss per share (up from US$0.87 loss in FY 2020). Revenue: US$308.6m (down 44% from FY 2020). Net loss: US$6.85m (loss narrowed 90% from FY 2020). Revenue missed analyst estimates by 40%. Over the next year, revenue is forecast to grow 17% while thereits industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 43% per year, which means it is well ahead of earnings. Upcoming Dividend • Feb 21
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 28 February 2022. Payment date: 15 March 2022. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.2%). Tillkännagivande • Feb 19
iStar Inc. Declares Common Stock Dividend for the First Quarter of 2022, Payable on March 15, 2022 iStar Inc. announced that the Company's Board of Directors has declared quarterly dividends of $0.125 on the company's Common Stock for the first quarter of 2022. The dividends are all payable on March 15, 2022 to holders of record on March 1, 2022. Tillkännagivande • Feb 12
iStar Inc. to Report Q4, 2021 Results on Feb 24, 2022 iStar Inc. announced that they will report Q4, 2021 results Pre-Market on Feb 24, 2022 Tillkännagivande • Feb 08
iStar Inc. Names Theresa Ulyatt as Chief People Officer iStar Inc. announced the promotion of Theresa Ulyatt to Chief People Officer, reporting to President and Chief Investment Officer Marcos Alvarado. In her newly created position, she will lead talent acquisition and management, performance management, employee engagement, diversity, equity and inclusion, as well all traditional human resources functions. Ms. Ulyattjoined iStar in 2018 and was most recently Senior Vice President of People, Talent and Inclusion. Prior to joining iStar, Ms. Ulyatt spent over 2 decades in the human capital space both at Fortune 50 and emerging, entrepreneurial organizations. Tillkännagivande • Feb 04
Carlyle Net Lease Income, L.P. signed a definitive agreement to acquire the net lease asset portfolio of iStar Inc. for $3.1 billion. Carlyle Net Lease Income, L.P. signed a definitive agreement to acquire the net lease asset portfolio of iStar Inc. for $3.1 billion on February 2, 2022. The deal will be financed from a combination of Carlyle’s Global Credit platform and a minority balance sheet investment from Carlyle. Barclay Jones and Catherine Tenney will join Carlyle’s Real Estate Credit team post deal completion. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022. iStar Inc. expects to record approximately $565 million of net gains in the quarter in which the transaction is completed. Eastdil Secured, L.L.C. acted as exclusive financial advisor to iStar. Peter Fisch and Salvatore Gogliormella; Brian Krause; Ariel Deckelbaum, Paul Sandler, Austin Witt and Lawrence Wee, David Harris; Geoffrey Chepiga, Steven Herzog; Andrew Gaines; Claudine Meredith-Goujon; William O’Brien; and Marta Kelly of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as a legal advisor to iStar Inc. Andrew D. Small, P.C. of Kirkland & Ellis LLP acted as a legal advisor to Carlyle. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improved over the past week After last week's 18% share price gain to €21.60, the stock trades at a forward P/E ratio of 1474x. Average forward P/E is 12x in the REITs industry in Europe. Total returns to shareholders of 182% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €9.60 per share. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 30 November 2021. Payment date: 15 December 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (2.8%). Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS US$1.71 (vs US$0.028 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$214.0m (up 76% from 3Q 2020). Net income: US$121.9m (up US$123.9m from 3Q 2020). Profit margin: 57% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.13 per share Eligible shareholders must have bought the stock before 31 August 2021. Payment date: 15 September 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (3.1%). Reported Earnings • Aug 04
Second quarter 2021 earnings released: US$0.19 loss per share (vs US$0.31 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$105.6m (up 6.7% from 2Q 2020). Net loss: US$13.7m (loss narrowed 41% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Executive Departure • May 20
Independent Director has left the company On the 13th of May, Anita Sands' tenure as Independent Director ended after 1.2 years in the role. As of March 2021, Anita personally held 16.91k shares (€257k worth at the time). Anita is the only executive to leave the company over the last 12 months. Tillkännagivande • May 15
iStar Inc. Declares Common Stock Dividend, Payable on June 15, 2021 iStar Inc. announced that the Company's Board of Directors has declared quarterly dividends on the Company's Common Stock for the second quarter of 2021. The dividends are all payable on June 15, 2021 to holders of record on June 1, 2021. The Board of Directors has increased the quarterly common dividend per share to $0.125 from $0.11 continuing its multi-year strategy to steadily increase the dividend, while focusing on scaling its modern ground lease platform. Reported Earnings • May 01
First quarter 2021 earnings released: US$0.005 loss per share (vs US$0.28 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: US$113.3m (down 38% from 1Q 2020). Net loss: US$405.0k (loss narrowed 98% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 25
New 90-day high: €14.30 The company is up 21% from its price of €11.80 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 3.0% over the same period. Reported Earnings • Feb 25
Full year 2020 earnings released: US$0.87 loss per share (vs US$4.51 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$573.1m (up 16% from FY 2019). Net loss: US$65.9m (down 123% from profit in FY 2019). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 10.0%. Over the next year, revenue is expected to shrink by 67% compared to a 45% growth forecast for the REITs industry in Germany. Is New 90 Day High Low • Feb 05
New 90-day high: €13.10 The company is up 36% from its price of €9.65 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.63 per share. Tillkännagivande • Feb 03
iStar Inc. to Report Q4, 2020 Results on Feb 23, 2021 iStar Inc. announced that they will report Q4, 2020 results Pre-Market on Feb 23, 2021 Is New 90 Day High Low • Jan 14
New 90-day high: €12.40 The company is up 20% from its price of €10.30 on 16 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the REITs industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.32 per share. Upcoming Dividend • Nov 24
Upcoming Dividend of US$0.11 Per Share Will be paid on the 15th of December to those who are registered shareholders by the 30th of November. The trailing yield of 3.1% is below the top quartile of German dividend payers (3.6%), and is lower than industry peers (4.7%). Is New 90 Day High Low • Nov 07
New 90-day low: €9.65 The company is down 8.0% from its price of €10.50 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the REITs industry, which is also down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.32 per share. Analyst Estimate Surprise Post Earnings • Nov 06
Revenue beats expectations Revenue exceeded analyst estimates by 24%. Over the next year, revenue is expected to shrink by 25% compared to a 113% growth forecast for the REITs industry in Germany. Reported Earnings • Nov 06
Third quarter 2020 earnings released: US$0.028 loss per share The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2020 results: Revenue: US$121.9m (down 16% from 3Q 2019). Net loss: US$2.07m (loss narrowed 72% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 10
iStar Inc. to Report Q3, 2020 Results on Nov 03, 2020 iStar Inc. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 03, 2020 Tillkännagivande • Jul 10
iStar Inc. to Report Q2, 2020 Results on Aug 06, 2020 iStar Inc. announced that they will report Q2, 2020 results at 9:00 AM, Eastern Standard Time on Aug 06, 2020 Tillkännagivande • Jul 03
iStar Inc.(NYSE:STAR) dropped from Russell 2000 Growth Index iStar Inc.(NYSE:STAR) dropped from Russell 2000 Growth Index Tillkännagivande • Jul 02
iStar Inc.(NYSE:STAR) dropped from Russell 2000 Growth-Defensive Index iStar Inc.(NYSE:STAR) dropped from Russell 2000 Growth-Defensive Index 