Insider Buying: istar Inc (STAR) Major Shareholder Buys 24,497 Shares of Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 24,497 shares of istar stock in a transaction dated Thursday, January 18th. The stock was acquired at an average price of $17.83 per share, for a total transaction of $436,781.51. Following the completion of the acquisition, the insider now owns 7,133,476 shares of the company’s stock, valued at approximately $127,189,877.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 Tuesday, January 16th, Istar Inc. purchased 25,000 shares of istar stock. The stock was acquired at an average price of $17.87 per share, for a total transaction of $446,750.00.
  • On Friday, January 12th, Istar Inc. purchased 25,000 shares of istar stock. The stock was acquired at an average price of $17.97 per share, for a total transaction of $449,250.00.
  • On Wednesday, January 10th, Istar Inc. purchased 25,000 shares of istar stock. The stock was acquired at an average price of $17.91 per share, for a total transaction of $447,750.00.
  • On Monday, January 8th, Istar Inc. purchased 24,254 shares of istar stock. The stock was acquired at an average price of $17.94 per share, for a total transaction of $435,116.76.
  • On Thursday, January 4th, Istar Inc. purchased 10,166 shares of istar stock. The stock was acquired at an average price of $18.04 per share, for a total transaction of $183,394.64.
  • On Tuesday, January 2nd, Istar Inc. purchased 25,000 shares of istar stock. The stock was acquired at an average price of $17.96 per share, for a total transaction of $449,000.00.
  • On Saturday, December 29th, Istar Inc. purchased 24,441 shares of istar stock. The stock was acquired at an average price of $17.70 per share, for a total transaction of $432,605.70.
  • On Thursday, December 27th, Istar Inc. purchased 24,646 shares of istar stock. The stock was acquired at an average price of $17.75 per share, for a total transaction of $437,466.50.
  • On Thursday, December 28th, Istar Inc. purchased 25,000 shares of istar stock. The stock was acquired at an average price of $17.87 per share, for a total transaction of $446,750.00.
  • On Tuesday, December 26th, Istar Inc. purchased 24,031 shares of istar stock. The stock was acquired at an average price of $17.73 per share, for a total transaction of $426,069.63.

istar Inc (STAR) opened at $11.19 on Monday. istar Inc has a 52 week low of $10.95 and a 52 week high of $12.68. The stock has a market capitalization of $888.16, a P/E ratio of -21.11 and a beta of 1.26. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76.

istar (NYSE:STAR) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter. istar had a return on equity of 19.57% and a net margin of 24.13%.

istar announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 14th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several brokerages recently issued reports on STAR. BidaskClub cut istar from a “sell” rating to a “strong sell” rating in a research note on Monday, October 23rd. ValuEngine raised istar from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. TheStreet cut istar from a “c” rating to a “d” rating in a research note on Friday, November 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 price objective on shares of istar in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP boosted its position in istar by 410.1% during the 2nd quarter. Quantbot Technologies LP now owns 8,550 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 6,874 shares in the last quarter. Schroder Investment Management Group bought a new stake in istar during the 3rd quarter valued at $108,000. BNP Paribas Arbitrage SA boosted its position in istar by 160.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,937 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 7,356 shares in the last quarter. Stevens Capital Management LP bought a new stake in istar during the 2nd quarter valued at $147,000. Finally, Magnetar Financial LLC bought a new stake in istar during the 3rd quarter valued at $154,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.

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About istar

iStar Inc finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s four business segments are Real Estate Finance, Net Lease, Operating Properties, and Land and Development. The Real Estate Finance portfolio consists of senior and mezzanine real estate loans that may be either fixed-rate or variable-rate.

Insider Buying and Selling by Quarter for istar (NYSE:STAR)

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