Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

iStar Inc. (STAR-PG)

Company Dividend Discount ModelIndustry: REIT - DiversifiedSector: Real Estate

Valuation Snapshot

Stable Growth$20.69 - $28.71$24.71
Multi-Stage$37.52 - $41.26$39.35
Blended Fair Value$32.03
Current Price$25.97
Upside23.35%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-2.55%0.00%0.710.000.750.810.780.800.000.000.000.00
YoY Growth--0.00%-100.00%-7.82%3.77%-2.42%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--2.72%0.00%2.55%4.46%5.66%9.72%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)259.47
(-) Cash Dividends Paid (M)88.82
(=) Cash Retained (M)170.65
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)51.8932.4319.46
Cash Retained (M)170.65170.65170.65
(-) Cash Required (M)-51.89-32.43-19.46
(=) Excess Retained (M)118.75138.21151.19
(/) Shares Outstanding (M)71.6871.6871.68
(=) Excess Retained per Share1.661.932.11
LTM Dividend per Share1.241.241.24
(+) Excess Retained per Share1.661.932.11
(=) Adjusted Dividend2.903.173.35
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-4.31%-3.31%-2.31%
Fair Value$20.69$24.71$28.71
Upside / Downside-20.33%-4.84%10.56%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)259.47250.88242.57234.54226.77219.26225.84
Payout Ratio34.23%45.39%56.54%67.69%78.85%90.00%92.50%
Projected Dividends (M)88.82113.86137.15158.76178.80197.33208.90

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-4.31%-3.31%-2.31%
Year 1 PV (M)103.30104.38105.46
Year 2 PV (M)112.89115.26117.66
Year 3 PV (M)118.57122.32126.16
Year 4 PV (M)121.15126.29131.60
Year 5 PV (M)121.31127.78134.53
PV of Terminal Value (M)2,112.192,224.892,342.35
Equity Value (M)2,689.412,820.942,957.76
Shares Outstanding (M)71.6871.6871.68
Fair Value$37.52$39.35$41.26
Upside / Downside44.47%51.53%58.88%

High-Yield Dividend Screener

« Prev Page 8 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ACICAmerican Coastal Insurance Corporation4.24%$0.4828.28%
NCDLNuveen Churchill Direct Lending Corp.4.24%$0.5730.88%
ESEversource Energy4.23%$2.8879.84%
ISBCInvestors Bancorp, Inc.4.21%$0.5844.24%
KMIKinder Morgan, Inc.4.21%$1.1795.05%
PWODPenns Woods Bancorp, Inc.4.17%$1.2545.44%
DDSDillard's, Inc.4.16%$26.5071.17%
RLIRLI Corp.4.16%$2.6067.96%
TFCTruist Financial Corporation4.16%$2.0753.19%
RMBIRichmond Mutual Bancorporation, Inc.4.15%$0.5854.33%
PRPermian Resources Corporation4.14%$0.6052.90%
RILYTB. Riley Financial, Inc. 6.00% Senior Notes Due 20284.13%$0.5856.91%
DGICADonegal Group Inc.4.12%$0.8028.85%
AUBNAuburn National Bancorporation, Inc.4.11%$1.0876.62%
FHBFirst Hawaiian, Inc.4.11%$1.0650.97%
PORPortland General Electric Company4.09%$1.9872.28%
NEWTLNewtek Business Services Corp.4.08%$1.0244.14%
NEWTGNewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 20294.06%$1.0244.14%
NEWTZNewtek Business Services Corp. 5.50% Notes Due 20264.05%$1.0244.14%
LKQLKQ Corporation4.04%$1.2144.76%
NWENorthwestern Energy Group Inc4.04%$2.6274.07%
PXDPioneer Natural Resources Company4.00%$10.8054.25%
HAFCHanmi Financial Corporation3.99%$1.0744.22%
KSSKohl's Corporation3.99%$0.8550.52%
APAAPA Corporation3.98%$1.0124.12%
NWNNorthwest Natural Holding Company3.98%$1.8676.25%
HFWAHeritage Financial Corporation3.97%$0.9456.54%
WSBCWesBanco, Inc.3.97%$1.3265.39%
FULTFulton Financial Corporation3.96%$0.7739.22%
REYNReynolds Consumer Products Inc.3.96%$0.9163.16%
MSMMSC Industrial Direct Co., Inc.3.95%$3.3995.14%
RF-PFRegions Financial Corporation3.95%$1.0141.98%
NEWTINewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 20283.94%$0.9942.24%
BOHBank of Hawaii Corporation3.93%$2.6958.42%
DCOMDime Community Bancshares, Inc.3.93%$1.1786.59%
OGEOGE Energy Corp.3.93%$1.6967.72%
ASIEXMultisector Income Fund - Investor Class3.92%$0.3596.64%
ESSEssex Property Trust, Inc.3.90%$10.0376.31%
WABCWestamerica Bancorporation3.90%$1.8639.32%
NJRNew Jersey Resources Corporation3.88%$1.7853.65%
XHRXenia Hotels & Resorts, Inc.3.88%$0.5693.99%
ARTNAArtesian Resources Corporation3.87%$1.2255.68%
FFBCFirst Financial Bancorp.3.87%$0.9738.17%
PNWPinnacle West Capital Corporation3.87%$3.4169.92%
UEUrban Edge Properties3.87%$0.7482.23%
NECBNortheast Community Bancorp, Inc.3.86%$0.8827.20%
SCSCXTouchstone Large Cap Focused Fund Class C3.86%$2.8037.43%
BBWIBath & Body Works, Inc.3.85%$0.8024.18%
BHBBar Harbor Bankshares3.85%$1.2054.11%
UGIUGI Corporation3.85%$1.4547.35%