On 5/27/16, iStar Inc's 7.8% Series F Cumulative Redeemable Preferred Stock (Symbol: STAR.PRF) will trade ex-dividend, for its quarterly dividend of $0.4875, payable on 6/15/16. As a percentage of STAR.PRF's recent share price of $23.34, this dividend works out to approximately 2.09%, so look for shares of STAR.PRF to trade 2.09% lower - all else being equal - when STAR.PRF shares open for trading on 5/27/16. On an annualized basis, the current yield is approximately 8.48%, which compares to an average yield of 7.86% in the "REITs" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of STAR.PRF shares, versus STAR:
Below is a dividend history chart for STAR.PRF, showing historical dividends prior to the most recent $0.4875 on iStar Inc's 7.8% Series F Cumulative Redeemable Preferred Stock:
According to the ETF Finder at ETF Channel, iStar Inc (Symbol: STAR) makes up 1.55% of the Mortgage REIT Income ETF ( MORT ) which is trading up by about 0.2% on the day Wednesday.
In Wednesday trading, iStar Inc's 7.8% Series F Cumulative Redeemable Preferred Stock (Symbol: STAR.PRF) is currently up about 1.5% on the day, while the common shares (Symbol: STAR) are up about 5%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.