istar Inc (STAR) Major Shareholder Istar Inc. Buys 23,941 Shares

istar Inc (NYSE:STAR) major shareholder Istar Inc. bought 23,941 shares of the stock in a transaction dated Friday, January 26th. The stock was bought at an average price of $17.83 per share, for a total transaction of $426,868.03. Following the purchase, the insider now directly owns 7,257,810 shares of the company’s stock, valued at $129,406,752.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, January 29th, Istar Inc. bought 10,340 shares of istar stock. The stock was bought at an average price of $17.74 per share, for a total transaction of $183,431.60.
  • On Wednesday, January 24th, Istar Inc. bought 15,053 shares of istar stock. The stock was bought at an average price of $17.92 per share, for a total transaction of $269,749.76.
  • On Monday, January 22nd, Istar Inc. bought 25,000 shares of istar stock. The stock was bought at an average price of $17.74 per share, for a total transaction of $443,500.00.
  • On Thursday, January 18th, Istar Inc. bought 24,497 shares of istar stock. The stock was bought at an average price of $17.83 per share, for a total transaction of $436,781.51.
  • On Tuesday, January 16th, Istar Inc. bought 25,000 shares of istar stock. The stock was bought at an average price 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 acquired at an average price 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 acquired at an average price 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 acquired at an average price 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 acquired at an average price 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 acquired at an average price of $17.96 per share, for a total transaction of $449,000.00.

Shares of istar Inc (NYSE:STAR) traded down $0.24 during mid-day trading on Monday, reaching $10.82. The company’s stock had a trading volume of 822,944 shares, compared to its average volume of 412,284. The stock has a market capitalization of $754.29, a P/E ratio of 11.89 and a beta of 1.26. 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 Inc has a 52 week low of $10.80 and a 52 week high of $12.68.

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

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

Several institutional investors have recently made changes to their positions in STAR. Schwab Charles Investment Management Inc. raised its holdings in shares of istar by 52.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 500,840 shares of the real estate investment trust’s stock valued at $6,031,000 after acquiring an additional 171,856 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of istar by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 437,418 shares of the real estate investment trust’s stock valued at $5,267,000 after acquiring an additional 38,450 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of istar by 237.1% during the second quarter. Wells Fargo & Company MN now owns 435,379 shares of the real estate investment trust’s stock valued at $5,242,000 after acquiring an additional 306,243 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of istar by 21.0% during the second quarter. Teachers Advisors LLC now owns 166,478 shares of the real estate investment trust’s stock valued at $2,004,000 after acquiring an additional 28,846 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of istar by 15.6% during the second quarter. TIAA CREF Investment Management LLC now owns 225,944 shares of the real estate investment trust’s stock valued at $2,720,000 after acquiring an additional 30,434 shares during the last quarter. 86.89% of the stock is owned by institutional investors and hedge funds.

STAR has been the topic of a number of recent analyst reports. ValuEngine upgraded istar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. TheStreet downgraded istar from a “c” rating to a “d” rating in a research report on Friday, November 17th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price target on shares of istar in a research report on Thursday, October 12th. Finally, BidaskClub downgraded istar from a “sell” rating to a “strong sell” rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $14.00.

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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)

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