istar Inc (STAR) Major Shareholder Buys $436,781.51 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 24,497 shares of the stock in a transaction on Thursday, January 18th. The shares were purchased at an average cost of $17.83 per share, for a total transaction of $436,781.51. Following the acquisition, the insider now directly owns 7,133,476 shares of the company’s stock, valued at $127,189,877.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large 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 16th, Istar Inc. purchased 25,000 shares of istar stock. The shares were purchased at an average cost of $17.87 per share, for a total transaction of $446,750.00.
  • On Friday, January 12th, Istar Inc. purchased 25,000 shares of istar stock. The shares were purchased at an average cost of $17.97 per share, for a total transaction of $449,250.00.
  • On Wednesday, January 10th, Istar Inc. purchased 25,000 shares of istar stock. The shares were purchased at an average cost of $17.91 per share, for a total transaction of $447,750.00.
  • On Monday, January 8th, Istar Inc. purchased 24,254 shares of istar stock. The shares were purchased at an average cost of $17.94 per share, for a total transaction of $435,116.76.
  • On Thursday, January 4th, Istar Inc. purchased 10,166 shares of istar stock. The shares were purchased at an average cost of $18.04 per share, for a total transaction of $183,394.64.
  • On Tuesday, January 2nd, Istar Inc. purchased 25,000 shares of istar stock. The shares were purchased at an average cost of $17.96 per share, for a total transaction of $449,000.00.
  • On Saturday, December 29th, Istar Inc. bought 24,441 shares of istar stock. The stock was bought at an average cost of $17.70 per share, for a total transaction of $432,605.70.
  • On Thursday, December 27th, Istar Inc. bought 24,646 shares of istar stock. The stock was bought at an average cost of $17.75 per share, for a total transaction of $437,466.50.
  • On Thursday, December 28th, Istar Inc. bought 25,000 shares of istar stock. The stock was bought 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 bought at an average cost of $17.73 per share, for a total transaction of $426,069.63.

istar Inc (NYSE STAR) traded up $0.05 during mid-day trading on Friday, hitting $11.19. 232,407 shares of the stock traded hands, compared to its average volume of 419,731. istar Inc has a 1 year low of $10.95 and a 1 year high of $12.68. The company has a debt-to-equity ratio of 4.76, a current ratio of 6.50 and a quick ratio of 6.50. The stock has a market capitalization of $889.91, a P/E ratio of -21.11 and a beta of 1.26.

istar (NYSE:STAR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported ($0.09) EPS for the quarter. istar had a return on equity of 19.57% and a net margin of 24.13%.

istar announced that its Board of Directors has authorized a stock repurchase program on Thursday, December 14th that allows the company to repurchase 50,000,000 outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC increased its position in istar by 15.6% in the second quarter. TIAA CREF Investment Management LLC now owns 225,944 shares of the real estate investment trust’s stock worth $2,720,000 after purchasing an additional 30,434 shares during the last quarter. Wells Fargo & Company MN increased its position in istar by 237.1% in the second quarter. Wells Fargo & Company MN now owns 435,379 shares of the real estate investment trust’s stock worth $5,242,000 after purchasing an additional 306,243 shares during the last quarter. Private Management Group Inc. increased its position in istar by 332.3% in the third quarter. Private Management Group Inc. now owns 529,556 shares of the real estate investment trust’s stock worth $6,249,000 after purchasing an additional 407,069 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in istar in the third quarter worth $1,281,000. Finally, Schwab Charles Investment Management Inc. increased its position in istar by 52.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 500,840 shares of the real estate investment trust’s stock worth $6,031,000 after purchasing an additional 171,856 shares during the last quarter. Institutional investors own 87.49% of the company’s stock.

STAR has been the topic of several research analyst reports. TheStreet downgraded shares of istar from a “c” rating to a “d” rating in a report on Friday, November 17th. ValuEngine raised shares of istar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 target price on shares of istar in a report on Thursday, October 12th. Finally, BidaskClub raised shares of istar from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. istar presently has an average rating of “Hold” and an average price target 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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