istar Inc (STAR) Major Shareholder Acquires $447,750.00 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. bought 25,000 shares of istar stock in a transaction on Wednesday, January 10th. The shares were purchased at an average cost of $17.91 per share, for a total transaction of $447,750.00. Following the completion of the purchase, the insider now directly owns 7,009,803 shares of the company’s stock, valued at $125,545,571.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was bought 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 stock was bought at an average cost of $17.97 per share, for a total transaction of $449,250.00.
  • On Monday, January 8th, Istar Inc. purchased 24,254 shares of istar stock. The stock was bought at an average cost of $17.94 per share, for a total transaction of $435,116.76.
  • On Thursday, January 4th, Istar Inc. acquired 10,166 shares of istar stock. The stock was acquired at an average price of $18.04 per share, with a total value of $183,394.64.
  • On Tuesday, January 2nd, Istar Inc. acquired 25,000 shares of istar stock. The stock was acquired at an average price of $17.96 per share, with a total value of $449,000.00.
  • On Saturday, December 29th, Istar Inc. acquired 24,441 shares of istar stock. The stock was acquired at an average price of $17.70 per share, with a total value of $432,605.70.
  • On Thursday, December 27th, Istar Inc. purchased 24,646 shares of istar stock. The shares were purchased at an average price of $17.75 per share, with a total value of $437,466.50.
  • On Thursday, December 28th, Istar Inc. purchased 25,000 shares of istar stock. The shares were purchased at an average price of $17.87 per share, with a total value of $446,750.00.
  • On Tuesday, December 26th, Istar Inc. purchased 24,031 shares of istar stock. The shares were purchased at an average price of $17.73 per share, with a total value of $426,069.63.
  • On Friday, December 22nd, Istar Inc. purchased 24,047 shares of istar stock. The shares were purchased at an average price of $17.75 per share, with a total value of $426,834.25.

Shares of istar Inc (NYSE STAR) traded down $0.08 during trading on Thursday, hitting $11.14. 467,300 shares of the stock traded hands, compared to its average volume of 435,342. istar Inc has a fifty-two week low of $10.95 and a fifty-two week high of $12.68. The company has a debt-to-equity ratio of 4.76, a quick ratio of 6.50 and a current ratio of 6.50. The firm has a market cap of $885.15, a PE ratio of -21.02 and a beta of 1.26.

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

istar announced that its board has approved a stock repurchase plan on Thursday, December 14th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC raised its position in istar by 15.6% in the 2nd 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 purchasing an additional 30,434 shares during the last quarter. Wells Fargo & Company MN raised its position in istar by 237.1% in the 2nd quarter. Wells Fargo & Company MN now owns 435,379 shares of the real estate investment trust’s stock valued at $5,242,000 after purchasing an additional 306,243 shares during the last quarter. Private Management Group Inc. raised its position in istar by 332.3% in the 3rd quarter. Private Management Group Inc. now owns 529,556 shares of the real estate investment trust’s stock valued at $6,249,000 after purchasing an additional 407,069 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in istar in the 3rd quarter valued at $1,281,000. Finally, Bank of New York Mellon Corp raised its position in istar by 9.6% in the 2nd 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 purchasing an additional 38,450 shares during the last quarter. Hedge funds and other institutional investors own 87.49% of the company’s stock.

STAR has been the subject of several analyst reports. BidaskClub cut shares of istar from a “sell” rating to a “strong sell” rating in a report on Monday, October 23rd. ValuEngine upgraded shares of istar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. TheStreet cut shares of istar from a “c” rating to a “d” rating in a report on Friday, November 17th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.00 target price on shares of istar in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target 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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