Russell Investments Group Ltd. reduced its position in shares of istar Inc (NYSE:STAR) by 26.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,120 shares of the real estate investment trust’s stock after selling 47,157 shares during the quarter. Russell Investments Group Ltd.’s holdings in istar were worth $1,453,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of STAR. Private Management Group Inc. raised its position 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 purchasing an additional 310,476 shares during the period. Bank of Montreal Can raised its position 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 purchasing an additional 723,797 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of istar by 13.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 371,370 shares of the real estate investment trust’s stock valued at $4,008,000 after purchasing an additional 44,728 shares during the period. KBC Group NV raised its position 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 purchasing an additional 216,298 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of istar by 124.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 260,621 shares of the real estate investment trust’s stock valued at $2,812,000 after purchasing an additional 144,311 shares during the period. 92.94% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of istar from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd. ValuEngine raised shares of istar from a “sell” rating to a “hold” rating in a research report on Friday.
istar (NYSE:STAR) last released its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). istar had a return on equity of 11.04% and a net margin of 10.29%. The business had revenue of $122.14 million for the quarter, compared to the consensus estimate of $120.53 million. During the same period in the prior year, the business posted ($0.05) earnings per share. istar’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that istar Inc will post 0.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, November 14th. istar’s dividend payout ratio is 15.58%.
In other istar news, major shareholder Istar Inc. purchased 4,655 shares of the stock in a transaction that occurred on Wednesday, November 28th. The shares were acquired at an average cost of $19.62 per share, with a total value of $91,331.10. Following the completion of the transaction, the insider now owns 7,539,326 shares in the company, valued at $147,921,576.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dale Anne Reiss purchased 4,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were acquired at an average cost of $24.60 per share, for a total transaction of $98,400.00. Following the completion of the transaction, the director now owns 52,519 shares of the company’s stock, valued at approximately $1,291,967.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 52,652 shares of company stock worth $977,546. 5.01% of the stock is owned by insiders.
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istar Company Profile
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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