Real Estate Management Services LLC raised its position in istar Inc (NYSE:STAR) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,393,502 shares of the real estate investment trust’s stock after buying an additional 80,002 shares during the period. istar accounts for 5.8% of Real Estate Management Services LLC’s investment portfolio, making the stock its 3rd biggest holding. Real Estate Management Services LLC owned 3.32% of istar worth $28,243,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in istar by 5.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 153,003 shares of the real estate investment trust’s stock valued at $1,805,000 after buying an additional 8,498 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in shares of istar during the 3rd quarter valued at approximately $362,000. Fondren Management LP bought a new position in shares of istar during the 2nd quarter valued at approximately $361,000. Dynamic Technology Lab Private Ltd bought a new position in shares of istar during the 2nd quarter valued at approximately $294,000. Finally, Sterling Capital Management LLC grew its position in shares of istar by 4.5% during the 2nd quarter. Sterling Capital Management LLC now owns 191,300 shares of the real estate investment trust’s stock valued at $2,303,000 after acquiring an additional 8,275 shares during the period. Hedge funds and other institutional investors own 88.93% of the company’s stock.
istar Inc (NYSE STAR) traded down $0.01 during trading on Tuesday, hitting $11.30. 343,900 shares of the stock were exchanged, compared to its average volume of 483,123. The company has a market cap of $897.86, a P/E ratio of 6.02 and a beta of 1.29. istar Inc has a 1 year low of $10.95 and a 1 year high of $12.83. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76.
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A number of research analysts have recently weighed in on STAR shares. TheStreet raised shares of istar from a “d+” rating to a “c” rating in a research report on Wednesday, August 23rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.00 target price on shares of istar in a research report on Thursday, August 31st. ValuEngine downgraded shares of istar from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BidaskClub raised shares of istar from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.00.
In other istar news, major shareholder Istar Inc. acquired 19,600 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average cost of $19.68 per share, with a total value of $385,728.00. Following the acquisition, the insider now owns 5,665,385 shares in the company, valued at $111,494,776.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Gaden Western Wood acquired 139,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was acquired at an average cost of $0.28 per share, with a total value of $38,920.00. Over the last ninety days, insiders purchased 748,842 shares of company stock valued at $6,674,912. 4.41% of the stock is owned by insiders.
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.
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