ValuEngine downgraded shares of iStar Financial Inc. (NYSE:STAR) from a buy rating to a hold rating in a research note released on Tuesday.
STAR has been the subject of a number of other research reports. BidaskClub lowered shares of iStar Financial from a sell rating to a strong sell rating in a research note on Monday. JMP Securities began coverage on shares of iStar Financial in a research note on Wednesday, April 5th. They issued a market perform rating for the company. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating on shares of iStar Financial in a research note on Friday, July 21st.
Shares of iStar Financial (NYSE STAR) traded down 0.44% on Tuesday, reaching $11.40. The company’s stock had a trading volume of 418,440 shares. The stock has a market capitalization of $822.00 million, a PE ratio of 22.98 and a beta of 1.29. The stock has a 50-day moving average of $12.10 and a 200 day moving average of $11.97. iStar Financial has a 1-year low of $9.93 and a 1-year high of $12.83.
iStar Financial (NYSE:STAR) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by $0.63. iStar Financial had a return on equity of 10.26% and a net margin of 18.78%. The firm had revenue of $347.87 million during the quarter. On average, equities analysts forecast that iStar Financial will post $3.14 EPS for the current year.
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In other news, insider Nina Matis sold 40,000 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $12.30, for a total transaction of $492,000.00. Following the transaction, the insider now owns 240,386 shares in the company, valued at approximately $2,956,747.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Istar Inc. purchased 11,760 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were acquired at an average price of $19.10 per share, for a total transaction of $224,616.00. Following the acquisition, the insider now directly owns 5,044,600 shares in the company, valued at approximately $96,351,860. The disclosure for this purchase can be found here. Insiders have acquired a total of 307,527 shares of company stock valued at $5,733,905 in the last three months. Company insiders own 4.76% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in iStar Financial during the fourth quarter worth $299,000. State Street Corp increased its position in iStar Financial by 0.9% in the fourth quarter. State Street Corp now owns 1,423,894 shares of the real estate investment trust’s stock worth $17,611,000 after buying an additional 12,522 shares in the last quarter. Renaissance Technologies LLC increased its position in iStar Financial by 110.5% in the fourth quarter. Renaissance Technologies LLC now owns 288,200 shares of the real estate investment trust’s stock worth $3,565,000 after buying an additional 151,300 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in iStar Financial by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 48,231 shares of the real estate investment trust’s stock worth $597,000 after buying an additional 152 shares in the last quarter. Finally, Guggenheim Capital LLC increased its position in iStar Financial by 208.7% in the fourth quarter. Guggenheim Capital LLC now owns 53,529 shares of the real estate investment trust’s stock worth $662,000 after buying an additional 36,187 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.
About iStar Financial
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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