iStar Financial Inc. (STAR) Major Shareholder Istar Inc. Acquires 29,792 Shares

iStar Financial Inc. (NYSE:STAR) major shareholder Istar Inc. bought 29,792 shares of iStar Financial stock in a transaction that occurred on Thursday, August 24th. The stock was bought at an average price of $19.38 per share, with a total value of $577,368.96. Following the purchase, the insider now owns 5,805,264 shares of the company’s stock, valued at approximately $112,506,016.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Istar Inc. also recently made the following trade(s):

• On Friday, August 25th, Istar Inc. bought 28,719 shares of iStar Financial stock. The stock was bought at an average price of $19.48 per share, with a total value of $559,446.12.
• On Wednesday, August 23rd, Istar Inc. bought 29,865 shares of iStar Financial stock. The stock was bought at an average price of $19.39 per share, with a total value of $579,082.35.
• On Friday, August 18th, Istar Inc. bought 19,600 shares of iStar Financial stock. The stock was bought at an average price of $19.68 per share, with a total value of $385,728.00.
• On Thursday, August 17th, Istar Inc. bought 20,461 shares of iStar Financial stock. The stock was bought at an average price of $19.65 per share, with a total value of $402,058.65.
• On Friday, August 11th, Istar Inc. purchased 39,886 shares of iStar Financial stock. The stock was acquired at an average cost of $19.01 per share, with a total value of $758,232.86.
• On Thursday, August 10th, Istar Inc. purchased 39,886 shares of iStar Financial stock. The stock was acquired at an average cost of $18.98 per share, with a total value of $757,036.28.
• On Wednesday, August 9th, Istar Inc. purchased 39,886 shares of iStar Financial stock. The stock was acquired at an average cost of $18.93 per share, with a total value of $755,041.98.
• On Tuesday, August 8th, Istar Inc. purchased 39,886 shares of iStar Financial stock. The stock was acquired at an average cost of $19.00 per share, with a total value of $757,834.00.
• On Monday, August 7th, Istar Inc. purchased 39,886 shares of iStar Financial stock. The stock was acquired at an average cost of $18.94 per share, with a total value of $755,440.84.
• On Friday, August 4th, Istar Inc. purchased 39,200 shares of iStar Financial stock. The stock was acquired at an average cost of $18.76 per share, with a total value of $735,392.00.

iStar Financial Inc. (NYSE STAR) traded down 0.17% on Friday, reaching $11.80. 302,487 shares of the company traded hands. The firm has a market cap of $851.84 million, a P/E ratio of 6.43 and a beta of 1.29. iStar Financial Inc. has a 52-week low of $10.19 and a 52-week high of $12.83. The stock has a 50-day moving average price of $11.96 and a 200-day moving average price of $11.98.

iStar Financial (NYSE:STAR) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.87 by $0.63. iStar Financial had a net margin of 32.82% and a return on equity of 22.21%. The company had revenue of $347.87 million during the quarter. Analysts anticipate that iStar Financial Inc. will post $3.14 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in STAR. Loomis Sayles & Co. L P bought a new position in shares of iStar Financial during the first quarter worth about $7,337,000. UBS Group AG increased its position in shares of iStar Financial by 15.6% in the first quarter. UBS Group AG now owns 4,393,027 shares of the real estate investment trust’s stock worth $51,838,000 after buying an additional 591,244 shares during the last quarter. FMR LLC increased its position in shares of iStar Financial by 13.1% in the first quarter. FMR LLC now owns 5,087,931 shares of the real estate investment trust’s stock worth $60,038,000 after buying an additional 588,400 shares during the last quarter. Chicago Equity Partners LLC bought a new position in shares of iStar Financial during the second quarter worth about $4,648,000. Finally, Balyasny Asset Management LLC bought a new position in shares of iStar Financial during the second quarter worth about $4,188,000. 82.06% of the stock is owned by institutional investors.

Several research analysts recently issued reports on the stock. BidaskClub lowered shares of iStar Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of iStar Financial in a research report on Friday, July 21st. ValuEngine lowered shares of iStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, TheStreet raised shares of iStar Financial from a “d+” rating to a “c” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has an average rating of “Hold”.

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.