State of Tennessee Treasury Department lifted its stake in istar Inc (NYSE:STAR) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,875 shares of the real estate investment trust’s stock after purchasing an additional 3,985 shares during the period. State of Tennessee Treasury Department’s holdings in istar were worth $638,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Gradient Investments LLC bought a new position in shares of istar in the 3rd quarter worth $29,000. Public Employees Retirement System of Ohio boosted its position in shares of 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 purchasing an additional 1,584 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 3,529 shares during the last quarter. Bank of Montreal Can boosted its position in shares of 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 last quarter. Finally, Anderson Fisher LLC bought a new position in shares of istar in the 2nd quarter worth $82,000. Institutional investors and hedge funds own 89.62% of the company’s stock.
In other istar news, major shareholder Istar Inc. bought 7,500 shares of istar stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $34.56 per share, for a total transaction of $259,200.00. Following the completion of the acquisition, the insider now owns 27,204,023 shares in the company, valued at approximately $940,171,034.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Marcos Alvarado bought 26,846 shares of istar stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $3.72 per share, for a total transaction of $99,867.12. Over the last quarter, insiders have acquired 293,891 shares of company stock worth $8,098,116. Corporate insiders own 5.24% of the company’s stock.
STAR stock opened at $12.50 on Friday. The business’s 50-day moving average price is $12.82 and its two-hundred day moving average price is $12.05. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 2.97. The firm has a market cap of $761.54 million, a PE ratio of -13.16 and a beta of 0.66. istar Inc has a 1-year low of $7.84 and a 1-year high of $13.75.
istar (NYSE:STAR) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.13). The business had revenue of $145.34 million for the quarter, compared to the consensus estimate of $106.65 million. istar had a return on equity of 21.71% and a net margin of 51.92%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, analysts forecast that istar Inc will post 4.02 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, November 15th. This represents a $0.40 annualized dividend and a yield of 3.20%. istar’s dividend payout ratio is presently -42.11%.
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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