Kestrel Investment Management Corp trimmed its stake in shares of istar Inc (NYSE:STAR) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,250 shares of the real estate investment trust’s stock after selling 16,200 shares during the quarter. Kestrel Investment Management Corp owned approximately 0.56% of istar worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of STAR. Schroder Investment Management Group bought a new stake in shares of istar in the 3rd quarter worth approximately $108,000. SeaCrest Wealth Management LLC bought a new stake in shares of istar in the 4th quarter worth approximately $144,000. Magnetar Financial LLC bought a new stake in shares of istar in the 3rd quarter worth approximately $154,000. Martingale Asset Management L P bought a new stake in shares of istar in the 4th quarter worth approximately $233,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of istar in the 4th quarter worth approximately $253,000. Institutional investors and hedge funds own 88.93% of the company’s stock.
Several equities research analysts recently weighed in on STAR shares. ValuEngine lowered istar from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TheStreet lowered istar from a “c” rating to a “d” rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.00.
In other istar news, Director Dale Ann Reiss sold 17,595 shares of istar stock in a transaction on Monday, December 18th. The stock was sold at an average price of $11.70, for a total transaction of $205,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Istar Inc. acquired 10,340 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average price of $17.74 per share, with a total value of $183,431.60. Following the purchase, the insider now directly owns 7,257,810 shares of the company’s stock, valued at approximately $128,753,549.40. The disclosure for this purchase can be found here. Insiders have acquired 394,202 shares of company stock valued at $7,042,918 in the last quarter. 4.41% of the stock is owned by company insiders.
istar Inc (NYSE STAR) traded down $0.11 during midday trading on Thursday, hitting $10.08. The company had a trading volume of 292,485 shares, compared to its average volume of 562,631. The company has a quick ratio of 8.28, a current ratio of 8.28 and a debt-to-equity ratio of 3.91. istar Inc has a one year low of $9.75 and a one year high of $12.68. The company has a market capitalization of $684.85, a price-to-earnings ratio of 9.18 and a beta of 1.01.
istar (NYSE:STAR) last released its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $103.14 million for the quarter, compared to analyst estimates of $174.70 million. istar had a return on equity of 23.62% and a net margin of 25.67%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share.
istar declared that its Board of Directors has initiated a share buyback plan on Thursday, December 14th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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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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