istar Inc (STAR) Major Shareholder Acquires $105,079.30 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 5,854 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was acquired at an average price of $17.95 per share, for a total transaction of $105,079.30. Following the purchase, the insider now owns 7,477,652 shares in the company, valued at approximately $134,223,853.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large 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 Monday, November 5th, Istar Inc. purchased 4,104 shares of istar stock. The stock was acquired at an average price of $18.03 per share, for a total transaction of $73,995.12.
  • On Wednesday, October 31st, Istar Inc. purchased 5,929 shares of istar stock. The stock was acquired at an average price of $17.70 per share, for a total transaction of $104,943.30.
  • On Monday, October 29th, Istar Inc. purchased 7,137 shares of istar stock. The stock was acquired at an average price of $17.57 per share, for a total transaction of $125,397.09.
  • On Friday, October 26th, Istar Inc. purchased 8,200 shares of istar stock. The stock was acquired at an average price of $17.70 per share, for a total transaction of $145,140.00.
  • On Thursday, September 13th, Istar Inc. purchased 3,924 shares of istar stock. The stock was acquired at an average price of $16.90 per share, for a total transaction of $66,315.60.
  • On Thursday, September 6th, Istar Inc. purchased 129,600 shares of istar stock. The stock was acquired at an average price of $16.35 per share, for a total transaction of $2,118,960.00.

Shares of NYSE STAR traded down $0.08 during mid-day trading on Monday, hitting $10.45. 726,773 shares of the stock traded hands, compared to its average volume of 615,349. The company has a quick ratio of 7.34, a current ratio of 7.34 and a debt-to-equity ratio of 3.05. istar Inc has a twelve month low of $9.75 and a twelve month high of $11.88. The company has a market cap of $715.70 million, a price-to-earnings ratio of 4.52 and a beta of 0.90.

istar (NYSE:STAR) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). istar had a net margin of 10.29% and a return on equity of 11.04%. The firm had revenue of $122.14 million for the quarter, compared to analyst estimates of $120.53 million. During the same period last year, the business earned ($0.05) EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that istar Inc will post 2.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, November 14th. istar’s dividend payout ratio (DPR) is 15.58%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STAR. SG Americas Securities LLC acquired a new stake in shares of istar during the 2nd quarter valued at $147,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of istar during the 1st quarter valued at $238,000. State of Alaska Department of Revenue acquired a new stake in shares of istar during the 3rd quarter valued at $249,000. First Hawaiian Bank acquired a new stake in shares of istar during the 3rd quarter valued at $266,000. Finally, Stevens Capital Management LP boosted its holdings in shares of istar by 114.6% during the 2nd quarter. Stevens Capital Management LP now owns 25,345 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 13,533 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

STAR has been the topic of several recent research reports. ValuEngine downgraded istar from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 7th. Zacks Investment Research raised istar from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. istar presently has an average rating of “Hold” and an average price target of $12.00.

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About istar

iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and $40 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.

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