- Why the gap between iStar's (STAR -0.7%) asset value/business prospects and the share price? First, says Mark Palmer, is the stock doesn't fit neatly into a single coverage category, i.e. it's a REIT that doesn't pay a dividend. Second, the company's value is not easily seen from GAAP accounting measures, and it thusly doesn't screen well.
- A catalyst could be on tap for next though, says Palmer, pointing to the company's REITWeek presentation at which it has promised a roadmap for unlocking the value of its legacy assets and positioning for future growth.