istar Inc (STAR) Major Shareholder Acquires $75,488.00 in Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. acquired 2,800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $26.96 per share, for a total transaction of $75,488.00. Following the completion of the acquisition, the insider now owns 7,844,542 shares in the company, valued at approximately $211,488,852.32. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Monday, May 13th, Istar Inc. acquired 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 Wednesday, May 8th, Istar Inc. acquired 2,800 shares of istar stock. The shares were purchased at an average cost of $26.33 per share, for a total transaction of $73,724.00.
  • On Monday, May 6th, Istar Inc. acquired 2,800 shares of istar stock. The shares were purchased at an average cost of $26.53 per share, for a total transaction of $74,284.00.
  • On Friday, May 3rd, Istar Inc. acquired 2,445 shares of istar stock. The shares were purchased at an average cost of $25.08 per share, for a total transaction of $61,320.60.
  • On Wednesday, May 1st, Istar Inc. acquired 2,800 shares of istar stock. The shares were purchased at an average cost of $25.19 per share, for a total transaction of $70,532.00.
  • On Monday, April 29th, Istar Inc. purchased 2,800 shares of istar stock. The stock was bought at an average cost of $25.74 per share, for a total transaction of $72,072.00.
  • On Friday, April 26th, Istar Inc. purchased 2,689 shares of istar stock. The stock was bought at an average cost of $26.02 per share, for a total transaction of $69,967.78.
  • On Wednesday, April 24th, Istar Inc. purchased 2,800 shares of istar stock. The stock was bought at an average cost of $24.71 per share, for a total transaction of $69,188.00.
  • On Monday, April 22nd, Istar Inc. purchased 2,614 shares of istar stock. The stock was bought at an average cost of $23.07 per share, for a total transaction of $60,304.98.
  • On Wednesday, April 17th, Istar Inc. purchased 2,700 shares of istar stock. The stock was bought at an average cost of $22.69 per share, for a total transaction of $61,263.00.

istar stock traded down $0.06 during trading hours on Friday, reaching $8.68. The company had a trading volume of 1,210 shares, compared to its average volume of 507,021. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.68 and a quick ratio of 3.68. The stock has a market capitalization of $564.78 million, a P/E ratio of -9.18 and a beta of 1.00. istar Inc has a 12-month low of $7.84 and a 12-month high of $11.44.

istar (NYSE:STAR) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). The company had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $125.90 million. istar had a negative return on equity of 5.87% and a negative net margin of 14.17%. istar’s revenue for the quarter was down 70.7% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Sell-side analysts expect that istar Inc will post -0.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.10 dividend. This is a boost from istar’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Tuesday, May 14th. istar’s payout ratio is -42.11%.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc grew its position in shares of istar by 6.4% in the 3rd quarter. Vanguard Group Inc now owns 9,988,284 shares of the real estate investment trust’s stock worth $111,570,000 after buying an additional 603,017 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of istar by 6.4% during the third quarter. Vanguard Group Inc. now owns 9,988,284 shares of the real estate investment trust’s stock valued at $111,570,000 after purchasing an additional 603,017 shares in the last quarter. Private Management Group Inc. boosted its position in shares of istar by 0.7% during the first quarter. Private Management Group Inc. now owns 2,177,827 shares of the real estate investment trust’s stock valued at $18,337,000 after purchasing an additional 15,873 shares in the last quarter. Norges Bank bought a new stake in shares of istar during the fourth quarter valued at approximately $7,982,000. Finally, Northern Trust Corp boosted its position in shares of istar by 0.4% during the first quarter. Northern Trust Corp now owns 851,676 shares of the real estate investment trust’s stock valued at $7,171,000 after purchasing an additional 3,532 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on STAR shares. ValuEngine raised istar from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. JMP Securities cut istar from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th.

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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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