istar Inc (NYSE:STAR) Director Dale Ann Reiss sold 17,595 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $11.70, for a total value of $205,861.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of istar Inc (NYSE STAR) traded down $0.11 on Friday, reaching $11.30. The company’s stock had a trading volume of 234,357 shares, compared to its average volume of 478,480. The stock has a market capitalization of $896.46, a price-to-earnings ratio of -21.32 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 1-year low of $10.95 and a 1-year high of $12.68.
istar announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
STAR has been the subject of several recent analyst reports. TheStreet lowered istar from a “c” rating to a “d” rating in a report on Friday, November 17th. ValuEngine raised istar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.00 price objective on shares of istar in a report on Thursday, October 12th. Finally, BidaskClub raised istar from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. 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’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dalton Greiner Hartman Maher & Co. boosted its stake in istar by 50.5% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 264,458 shares of the real estate investment trust’s stock worth $2,988,000 after buying an additional 88,730 shares in the last quarter. GSA Capital Partners LLP boosted its stake in istar by 21.9% in the third quarter. GSA Capital Partners LLP now owns 36,154 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 6,498 shares in the last quarter. Sterling Capital Management LLC boosted its stake in istar by 8.8% in the third quarter. Sterling Capital Management LLC now owns 208,155 shares of the real estate investment trust’s stock worth $2,456,000 after buying an additional 16,855 shares in the last quarter. Claar Advisors LLC boosted its stake in istar by 62.8% in the third quarter. Claar Advisors LLC now owns 825,000 shares of the real estate investment trust’s stock worth $9,735,000 after buying an additional 318,194 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in istar in the third quarter worth approximately $154,000. 87.49% of the stock is owned by institutional investors and hedge funds.
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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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