istar Inc (NYSE:STAR) Major Shareholder Istar Inc. Purchases 7,500 Shares

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 7,500 shares of istar stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $28.96 per share, with a total value of $217,200.00. Following the transaction, the insider now directly owns 26,923,393 shares in the company, valued at $779,701,461.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% 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, September 6th, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $28.02 per share, with a total value of $210,150.00.
  • On Wednesday, August 28th, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $29.09 per share, with a total value of $218,175.00.
  • On Monday, August 26th, Istar Inc. purchased 19,500 shares of istar stock. The shares were acquired at an average cost of $28.58 per share, with a total value of $557,310.00.
  • On Friday, August 23rd, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $28.38 per share, with a total value of $212,850.00.
  • On Wednesday, August 21st, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $28.88 per share, with a total value of $216,600.00.
  • On Monday, August 19th, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $29.07 per share, with a total value of $218,025.00.
  • On Friday, August 16th, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $28.96 per share, with a total value of $217,200.00.
  • On Wednesday, August 14th, Istar Inc. purchased 7,500 shares of istar stock. The shares were acquired at an average cost of $28.53 per share, with a total value of $213,975.00.
  • On Friday, August 2nd, Istar Inc. purchased 4,730 shares of istar stock. The shares were acquired at an average cost of $33.25 per share, with a total value of $157,272.50.
  • On Wednesday, July 31st, Istar Inc. purchased 5,000 shares of istar stock. The shares were acquired at an average cost of $33.19 per share, with a total value of $165,950.00.

istar stock traded down $0.19 during midday trading on Friday, hitting $12.31. The stock had a trading volume of 655,828 shares, compared to its average volume of 696,164. The firm’s fifty day moving average is $12.94 and its two-hundred day moving average is $10.63. The company has a market capitalization of $782.67 million, a PE ratio of -12.96 and a beta of 0.69. istar Inc has a 52-week low of $7.84 and a 52-week high of $13.75. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 2.35.

istar (NYSE:STAR) last released its earnings results on Thursday, August 1st. The real estate investment trust reported $4.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $4.85. The company had revenue of $98.47 million during the quarter, compared to analyst estimates of $97.50 million. istar had a net margin of 52.01% and a return on equity of 22.16%. During the same period in the prior year, the firm posted $0.55 EPS. As a group, equities research analysts predict that istar Inc will post 3.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.25%. The ex-dividend date was Wednesday, August 14th. istar’s dividend payout ratio is -42.11%.

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in istar by 94.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,270 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,584 shares in the last quarter. Versant Capital Management Inc increased its holdings in istar by 3,459.8% in the 2nd quarter. Versant Capital Management Inc now owns 3,631 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 3,529 shares in the last quarter. Bank of Montreal Can boosted its stake in istar by 870.1% in the 2nd quarter. Bank of Montreal Can now owns 5,743 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 5,151 shares during the period. Anderson Fisher LLC bought a new position in istar in the 2nd quarter worth approximately $82,000. Finally, Optimum Investment Advisors bought a new position in istar in the 2nd quarter worth approximately $103,000. 87.56% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of istar from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Raymond James upped their price target on shares of istar from $12.50 to $17.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. ValuEngine lowered shares of istar from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Finally, TheStreet raised shares of istar from a “d+” rating to a “c” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.

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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