istar (STAR) Lifted to Buy at ValuEngine

istar (NYSE:STAR) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other research analysts also recently commented on the company. BidaskClub downgraded istar from a “sell” rating to a “strong sell” rating in a report on Monday, October 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 target price on shares of istar in a report on Thursday, August 31st. Finally, TheStreet raised istar from a “d+” rating to a “c” rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. istar presently has an average rating of “Hold” and an average price target of $14.00.

istar (NYSE STAR) opened at $11.23 on Friday. The company has a current ratio of 6.50, a quick ratio of 6.50 and a debt-to-equity ratio of 4.76. istar has a 1-year low of $10.95 and a 1-year high of $12.74. The company has a market capitalization of $772.02, a P/E ratio of 6.02 and a beta of 1.26.

In related news, Director Matthew Gaden Western Wood purchased 139,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were acquired at an average price of $0.28 per share, with a total value of $38,920.00. Also, major shareholder Istar Inc. purchased 45,997 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was bought at an average cost of $19.22 per share, for a total transaction of $884,062.34. Following the acquisition, the insider now owns 6,245,061 shares in the company, valued at approximately $120,030,072.42. The disclosure for this purchase can be found here. In the last three months, insiders purchased 673,391 shares of company stock worth $4,968,878. Company insiders own 4.41% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in STAR. GSA Capital Partners LLP increased its position in istar by 21.9% in the 3rd quarter. GSA Capital Partners LLP now owns 36,154 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 6,498 shares during the period. Sterling Capital Management LLC increased its position in istar by 8.8% in the 3rd quarter. Sterling Capital Management LLC now owns 208,155 shares of the real estate investment trust’s stock valued at $2,456,000 after acquiring an additional 16,855 shares during the period. Claar Advisors LLC increased its position in 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 acquiring an additional 318,194 shares during the period. Magnetar Financial LLC acquired a new stake in istar in the 3rd quarter valued at approximately $154,000. Finally, KBC Group NV increased its position in istar by 89.5% in the 3rd quarter. KBC Group NV now owns 99,350 shares of the real estate investment trust’s stock valued at $1,172,000 after acquiring an additional 46,921 shares during the period. 87.49% of the stock is currently owned by institutional investors and hedge funds.

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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.

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