istar Inc (STAR) Major Shareholder Purchases $449,000.00 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were bought at an average price of $17.96 per share, with a total value of $449,000.00. Following the transaction, the insider now owns 6,878,390 shares of the company’s stock, valued at approximately $123,535,884.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

  • On Saturday, December 29th, Istar Inc. acquired 24,441 shares of istar stock. The shares were acquired at an average price of $17.70 per share, with a total value of $432,605.70.
  • 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. acquired 25,000 shares of istar stock. The shares were acquired at an average price of $17.87 per share, with a total value of $446,750.00.
  • On Tuesday, December 26th, Istar Inc. acquired 24,031 shares of istar stock. The shares were acquired at an average price of $17.73 per share, with a total value of $426,069.63.
  • On Friday, December 22nd, Istar Inc. acquired 24,047 shares of istar stock. The shares were acquired at an average price of $17.75 per share, with a total value of $426,834.25.
  • On Wednesday, December 20th, Istar Inc. acquired 10,937 shares of istar stock. The shares were acquired at an average price of $18.08 per share, with a total value of $197,740.96.
  • On Monday, December 18th, Istar Inc. acquired 10,000 shares of istar stock. The shares were acquired at an average price of $18.17 per share, with a total value of $181,700.00.
  • On Friday, December 15th, Istar Inc. acquired 17,749 shares of istar stock. The shares were acquired at an average price of $18.01 per share, with a total value 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 mid-day trading on Wednesday, reaching $11.23. 323,594 shares of the company traded hands, compared to its average volume of 352,200. 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 52 week low of $10.95 and a 52 week high of $12.74. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76.

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. Private Management Group Inc. boosted its holdings in shares of istar by 332.3% in the 3rd quarter. Private Management Group Inc. now owns 529,556 shares of the real estate investment trust’s stock valued at $6,249,000 after buying an additional 407,069 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of istar in the 2nd quarter valued at about $4,188,000. American Century Companies Inc. bought a new stake in shares of istar in the 3rd quarter valued at about $3,914,000. Claar Advisors LLC boosted its holdings in shares of istar by 62.8% in the 3rd quarter. Claar Advisors LLC now owns 825,000 shares of the real estate investment trust’s stock valued at $9,735,000 after buying an additional 318,194 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of istar by 63.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 818,793 shares of the real estate investment trust’s stock valued at $9,662,000 after buying an additional 317,953 shares in the last quarter. 87.49% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on STAR. ValuEngine raised shares of istar from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. TheStreet downgraded shares of istar from a “c” rating to a “d” rating in a research note on Friday, November 17th. BidaskClub downgraded shares of istar from a “sell” rating to a “strong sell” rating in a research note on Monday, October 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.00.

TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international trademark and copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/03/istar-inc-star-major-shareholder-purchases-449000-00-in-stock.html.

istar Company Profile

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)

Receive News & Ratings for istar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for istar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply