istar Inc (NYSE:STAR) Major Shareholder Istar Inc. Acquires 5,000 Shares

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 5,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $28.26 per share, with a total value of $141,300.00. Following the completion of the purchase, the insider now directly owns 7,864,067 shares of the company’s stock, valued at $222,238,533.42. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Monday, June 10th, Istar Inc. bought 4,916 shares of istar stock. The stock was bought at an average price of $28.77 per share, with a total value of $141,433.32.
  • On Friday, June 7th, Istar Inc. purchased 5,000 shares of istar stock. The stock was acquired at an average cost of $30.10 per share, with a total value of $150,500.00.
  • On Wednesday, June 5th, Istar Inc. bought 12,000 shares of istar stock. The shares were purchased at an average cost of $29.97 per share, for a total transaction of $359,640.00.
  • On Monday, June 3rd, Istar Inc. bought 12,000 shares of istar stock. The shares were purchased at an average cost of $27.19 per share, for a total transaction of $326,280.00.
  • On Thursday, May 30th, Istar Inc. bought 5,000 shares of istar stock. The shares were purchased at an average cost of $27.92 per share, for a total transaction of $139,600.00.
  • On Tuesday, May 28th, Istar Inc. bought 4,418 shares of istar stock. The shares were purchased at an average cost of $29.26 per share, for a total transaction of $129,270.68.
  • On Friday, May 24th, Istar Inc. bought 4,787 shares of istar stock. The shares were purchased at an average cost of $29.18 per share, for a total transaction of $139,684.66.
  • On Thursday, May 16th, Istar Inc. bought 4,562 shares of istar stock. The shares were purchased at an average cost of $28.00 per share, for a total transaction of $127,736.00.
  • On Monday, May 13th, Istar Inc. bought 2,690 shares of istar stock. The shares were purchased at an average cost of $27.51 per share, for a total transaction of $74,001.90.
  • On Friday, May 10th, Istar Inc. bought 2,800 shares of istar stock. The shares were purchased at an average cost of $26.96 per share, for a total transaction of $75,488.00.

Shares of STAR stock opened at $11.53 on Thursday. istar Inc has a 1 year low of $7.84 and a 1 year high of $12.06. The firm has a market cap of $752.39 million, a PE ratio of -12.14 and a beta of 0.63. The company has a debt-to-equity ratio of 3.07, a quick ratio of 3.68 and a current ratio of 3.68.

istar (NYSE:STAR) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The firm had revenue of $106.80 million for the quarter, compared to analyst estimates of $125.90 million. istar had a negative net margin of 14.17% and a negative return on equity of 5.87%. The firm’s revenue for the quarter was down 70.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. As a group, research analysts expect that istar Inc will post -0.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 14th. This is a positive change from istar’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 3.47%. istar’s dividend payout ratio (DPR) is currently -42.11%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in STAR. PNC Financial Services Group Inc. boosted its position in shares of istar by 444.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,440 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 2,808 shares during the period. Quantamental Technologies LLC acquired a new stake in istar during the fourth quarter valued at $61,000. MML Investors Services LLC acquired a new stake in istar during the fourth quarter valued at $92,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of istar by 4,452.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,793 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 12,512 shares during the period. Finally, Everence Capital Management Inc. acquired a new stake in istar during the first quarter worth about $120,000. 90.53% of the stock is owned by institutional investors and hedge funds.

STAR has been the topic of several analyst reports. Zacks Investment Research upgraded istar from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Friday, June 7th. ValuEngine cut istar from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Raymond James upgraded istar from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 28th. They noted that the move was a valuation call. Finally, JMP Securities cut istar from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th.

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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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