istar Inc (NYSE:STAR) Major Shareholder Purchases $432,605.70 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. bought 24,441 shares of istar stock in a transaction dated Saturday, December 29th. The shares were bought at an average price of $17.70 per share, for a total transaction of $432,605.70. Following the completion of the transaction, the insider now directly owns 6,878,390 shares of the company’s stock, valued at approximately $121,747,503. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, January 10th, Istar Inc. bought 25,000 shares of istar stock. The stock was purchased at an average cost of $17.91 per share, with a total value of $447,750.00.
  • On Monday, January 8th, Istar Inc. bought 24,254 shares of istar stock. The stock was purchased at an average cost of $17.94 per share, with a total value of $435,116.76.
  • On Thursday, January 4th, Istar Inc. purchased 10,166 shares of istar stock. The stock was bought at an average price of $18.04 per share, with a total value of $183,394.64.
  • On Tuesday, January 2nd, Istar Inc. purchased 25,000 shares of istar stock. The stock was purchased 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 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. purchased 25,000 shares of istar stock. The shares were acquired 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. purchased 10,937 shares of istar stock. The stock was bought at an average price of $18.08 per share, for a total transaction of $197,740.96.
  • On Monday, December 18th, Istar Inc. purchased 10,000 shares of istar stock. The stock was bought at an average price of $18.17 per share, for a total transaction of $181,700.00.

Shares of istar Inc (NYSE STAR) opened at $11.42 on Friday. The company has a market cap of $907.40, a price-to-earnings ratio of -21.55 and a beta of 1.26. The company has a debt-to-equity ratio of 4.76, a quick ratio of 6.50 and a current ratio of 6.50. istar Inc has a one year low of $10.95 and a one year high of $12.68.

istar announced that its Board of Directors has approved a share buyback plan on Thursday, December 14th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of istar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. TheStreet downgraded shares of istar from a “c” rating to a “d” rating in a research report on Friday, November 17th. BidaskClub lowered shares of istar from a “sell” rating to a “strong sell” rating in a report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $14.00 price target on shares of istar in a report on Thursday, October 12th. 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’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.00.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Real Estate Management Services LLC boosted its holdings in istar by 3.5% during the 3rd quarter. Real Estate Management Services LLC now owns 2,393,502 shares of the real estate investment trust’s stock worth $28,243,000 after acquiring an additional 80,002 shares during the last quarter. State Street Corp boosted its holdings in istar by 4.2% during the 2nd quarter. State Street Corp now owns 1,522,171 shares of the real estate investment trust’s stock worth $18,321,000 after acquiring an additional 61,836 shares during the last quarter. Citigroup Inc. boosted its holdings in istar by 2.2% during the 2nd quarter. Citigroup Inc. now owns 1,036,107 shares of the real estate investment trust’s stock worth $12,475,000 after acquiring an additional 22,508 shares during the last quarter. Claar Advisors LLC boosted its holdings in istar by 62.8% during the 3rd quarter. Claar Advisors LLC now owns 825,000 shares of the real estate investment trust’s stock worth $9,735,000 after acquiring an additional 318,194 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in istar by 63.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 818,793 shares of the real estate investment trust’s stock worth $9,662,000 after acquiring an additional 317,953 shares during the last quarter. 87.49% of the stock is currently owned by hedge funds and other institutional investors.

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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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