Oct. 28, 2014, 11:48 AM
- Q3 adjusted income of $57.7M or $0.48 per share vs. a loss of $7.3M or $0.09 one year ago.
- Investment activity: Funded a total of $205.6M of investments. Generated $512.7M from repayments and sales. Generated $27.8M of gains from sales. $652.8M in cash available at quarter's end.
- Real estate finance portfolio of $1.22B includes $1.13B of performing loans. NPLs have a carrying value of $93.2M, flat from Q2. Loan loss reversal of $700K during Q vs. $9.8M one year ago. Loan loss reserves of $119.9M, or 10.6% of total value of loans.
- Net lease portfolio of $1.7B includes 19M square feet over 33 states. Occupancy of 94.1% at quarter's end. Total portfolio generated unlevered yield of 7.8% for the Q.
- Company repaid $9.7M on its 2012 credit facility during quarter, bringing balance to $382.2M. Weighted average cost of debt of 5.5% flat from Q2, down 20 bps from a year ago.
- Previously: iStar Financial EPS of $0.48
- STAR +3.6%
Jul. 29, 2014, 10:11 AM
- Adjusted income of $28.9M or $0.34 per share vs. $4.4M and $0.05 one year ago.
- After $1.32B unsecured debt offering in Q2, secured debt now represents just 16% of total debt, down from 49% ahead of the deal.
- Non-performing loans carrying value of $94M fall 54% from the end of Q1.
- New originations during quarter totaled $117M.
- STAR +1.4%
- Previously: iStar Financial EPS of $0.34
May. 20, 2014, 5:38 PM
Dec. 19, 2013, 1:33 PM
- It's probably not the name change as iStar Financial (previously SFI, now STAR) adds to a big year by surging 4.6%. KBW initiating the stock with a Buy and $17 price target may have something to do with today's move.
- Entering 2013 with questions about how it was going to pay its bills, iStar has cut non-performing loans, sold noncore assets, and was able to issue $565M in debt at a favorable (for the company) rate. The stock's ahead 70% YTD.
Jun. 27, 2013, 5:30 PM
Aug. 9, 2011, 11:20 AM
STAR vs. ETF Alternatives
IStar Financial, Inc is a specialty finance firm focused on commercial real estate lending and leasing. It provides custom-tailored investment capital to private and corporate owners of real estate and invests in real estate sectors.
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