istar Inc (STAR) Major Shareholder Acquires $432,605.70 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. acquired 24,441 shares of the stock in a transaction on Saturday, December 29th. The shares were acquired at an average price of $17.70 per share, with a total value of $432,605.70. Following the transaction, the insider now directly owns 6,878,390 shares of the company’s stock, valued at $121,747,503. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Istar Inc. also recently made the following trade(s):

  • On Tuesday, January 2nd, Istar Inc. acquired 25,000 shares of istar stock. The shares were acquired at an average price of $17.96 per share, with a total value of $449,000.00.
  • On Thursday, December 27th, Istar Inc. acquired 24,646 shares of istar stock. The shares were acquired at an average price of $17.75 per share, with a total value of $437,466.50.
  • On Thursday, December 28th, Istar Inc. bought 25,000 shares of istar stock. The stock was purchased at an average cost of $17.87 per share, for a total transaction of $446,750.00.
  • On Tuesday, December 26th, Istar Inc. bought 24,031 shares of istar stock. The stock was purchased at an average cost of $17.73 per share, for a total transaction of $426,069.63.
  • On Friday, December 22nd, Istar Inc. bought 24,047 shares of istar stock. The stock was purchased at an average cost of $17.75 per share, for a total transaction of $426,834.25.
  • On Wednesday, December 20th, Istar Inc. bought 10,937 shares of istar stock. The stock was purchased at an average cost of $18.08 per share, for a total transaction of $197,740.96.
  • On Monday, December 18th, Istar Inc. bought 10,000 shares of istar stock. The stock was purchased at an average cost of $18.17 per share, for a total transaction of $181,700.00.
  • On Friday, December 15th, Istar Inc. bought 17,749 shares of istar stock. The stock was purchased at an average cost of $18.01 per share, for a total transaction of $319,659.49.
  • On Wednesday, December 13th, Istar Inc. bought 12,800 shares of istar stock. The stock was purchased at an average cost of $18.15 per share, for a total transaction of $232,320.00.
  • On Monday, December 11th, Istar Inc. bought 22,436 shares of istar stock. The stock was purchased at an average cost of $17.83 per share, for a total transaction of $400,033.88.

istar Inc (NYSE:STAR) traded down $0.08 during midday trading on Wednesday, reaching $11.23. 323,594 shares of the company’s stock were exchanged, compared to its average volume of 352,200. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76. The stock has a market cap of $770.66, a P/E ratio of 12.34 and a beta of 1.26. istar Inc has a 1-year low of $10.95 and a 1-year high of $12.74.

istar declared that its board has approved a share repurchase plan on Thursday, December 14th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of STAR. Quantbot Technologies LP increased its position in istar by 410.1% during the 2nd quarter. Quantbot Technologies LP now owns 8,550 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 6,874 shares during the period. Schroder Investment Management Group bought a new stake in shares of istar in the 3rd quarter valued at about $108,000. BNP Paribas Arbitrage SA boosted its holdings in shares of istar by 160.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,937 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 7,356 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of istar in the 2nd quarter valued at about $147,000. Finally, Magnetar Financial LLC bought a new stake in shares of istar in the 3rd quarter valued at about $154,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on STAR. BidaskClub raised shares of istar from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price target on shares of istar in a research note on Thursday, October 12th. TheStreet downgraded shares of istar from a “c” rating to a “d” rating in a research note on Friday, November 17th. Finally, ValuEngine raised shares of istar from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.00.

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About istar

iStar Inc finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s four business segments are Real Estate Finance, Net Lease, Operating Properties, and Land and Development. The Real Estate Finance portfolio consists of senior and mezzanine real estate loans that may be either fixed-rate or variable-rate.

Insider Buying and Selling by Quarter for istar (NYSE:STAR)

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