Affinity Investment Advisors LLC boosted its holdings in shares of istar Inc (NYSE:STAR) by 36.5% in the 3rd quarter, Holdings Channel reports. The fund owned 40,897 shares of the real estate investment trust’s stock after buying an additional 10,932 shares during the quarter. Affinity Investment Advisors LLC’s holdings in istar were worth $457,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of STAR. BlackRock Inc. grew its stake in shares of istar by 86.3% in the third quarter. BlackRock Inc. now owns 11,486,671 shares of the real estate investment trust’s stock valued at $128,303,000 after buying an additional 5,322,317 shares in the last quarter. Bank of Montreal Can grew its stake in shares of istar by 156,666.0% in the third quarter. Bank of Montreal Can now owns 724,259 shares of the real estate investment trust’s stock valued at $8,090,000 after buying an additional 723,797 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of istar by 145.2% in the third quarter. Bank of New York Mellon Corp now owns 799,850 shares of the real estate investment trust’s stock valued at $8,934,000 after buying an additional 473,697 shares in the last quarter. Private Management Group Inc. grew its stake in shares of istar by 20.9% in the second quarter. Private Management Group Inc. now owns 1,798,582 shares of the real estate investment trust’s stock valued at $19,407,000 after buying an additional 310,476 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of istar by 218.4% in the second quarter. KBC Group NV now owns 315,333 shares of the real estate investment trust’s stock valued at $3,402,000 after buying an additional 216,298 shares in the last quarter. 91.11% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. ValuEngine raised istar from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 30th. Zacks Investment Research raised istar from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, October 11th.
istar (NYSE:STAR) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). istar had a return on equity of 11.04% and a net margin of 10.29%. The company had revenue of $122.14 million for the quarter, compared to analyst estimates of $120.53 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts forecast that istar Inc will post 0.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.36 annualized dividend and a yield of 3.45%. istar’s payout ratio is 15.58%.
In related news, major shareholder Istar Inc. bought 129,600 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average cost of $16.35 per share, with a total value of $2,118,960.00. Following the purchase, the insider now directly owns 7,387,410 shares of the company’s stock, valued at approximately $120,784,153.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dale Anne Reiss bought 4,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were bought at an average cost of $24.60 per share, with a total value of $98,400.00. Following the completion of the purchase, the director now directly owns 52,519 shares in the company, valued at $1,291,967.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 175,279 shares of company stock valued at $2,960,749 over the last three months. 5.01% of the stock is currently owned by insiders.
ILLEGAL ACTIVITY WARNING: This news story was reported by WKRB News and is the sole property of of WKRB News. If you are viewing this news story on another site, it was illegally copied and reposted in violation of U.S. and international trademark and copyright legislation. The correct version of this news story can be accessed at https://www.wkrb13.com/2018/11/24/istar-inc-star-holdings-raised-by-affinity-investment-advisors-llc.html.
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.
Read More: What is the Dividend Aristocrat Index?
Want to see what other hedge funds are holding STAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for istar Inc (NYSE:STAR).
Receive News & Ratings for istar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for istar and related companies with MarketBeat.com's FREE daily email newsletter.