istar Inc (NYSE:STAR) Major Shareholder Istar Inc. Purchases 21,075 Shares

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 21,075 shares of the stock in a transaction dated Monday, December 4th. The shares were purchased at an average cost of $18.02 per share, for a total transaction of $379,771.50. Following the completion of the acquisition, the insider now directly owns 6,500,548 shares in the company, valued at $117,139,874.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Thursday, December 28th, Istar Inc. purchased 25,000 shares of istar stock. The shares were purchased at an average cost 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 shares were purchased at an average cost of $17.73 per share, for a total transaction of $426,069.63.
  • On Friday, December 22nd, Istar Inc. purchased 24,047 shares of istar stock. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $426,834.25.
  • On Wednesday, December 20th, Istar Inc. bought 10,937 shares of istar stock. The stock was bought at an average cost of $18.08 per share, for a total transaction of $197,740.96.
  • On Monday, December 18th, Istar Inc. bought 10,000 shares of istar stock. The stock was bought at an average cost of $18.17 per share, for a total transaction of $181,700.00.
  • On Friday, December 15th, Istar Inc. bought 17,749 shares of istar stock. The stock was bought at an average cost of $18.01 per share, for a total transaction of $319,659.49.
  • On Wednesday, December 13th, Istar Inc. bought 12,800 shares of istar stock. The stock was bought at an average cost of $18.15 per share, for a total transaction of $232,320.00.
  • On Monday, December 11th, Istar Inc. bought 22,436 shares of istar stock. The stock was bought at an average cost of $17.83 per share, for a total transaction of $400,033.88.
  • On Friday, December 8th, Istar Inc. bought 19,962 shares of istar stock. The stock was bought at an average cost of $17.90 per share, for a total transaction of $357,319.80.
  • On Wednesday, December 6th, Istar Inc. purchased 21,900 shares of istar stock. The stock was acquired at an average price of $17.86 per share, with a total value of $391,134.00.

istar Inc (STAR) traded down $0.07 on Friday, reaching $11.30. The company had a trading volume of 220,188 shares, compared to its average volume of 463,365. The company has a current ratio of 6.50, a quick ratio of 6.50 and a debt-to-equity ratio of 4.76. The stock has a market capitalization of $895.65, a price-to-earnings ratio of -21.32 and a beta of 1.26. istar Inc has a 12 month low of $10.95 and a 12 month high of $12.74.

istar announced that its Board of Directors has initiated a stock buyback program on Thursday, December 14th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently made changes to their positions in STAR. Private Management Group Inc. lifted its stake in istar by 332.3% in the third quarter. Private Management Group Inc. now owns 529,556 shares of the real estate investment trust’s stock worth $6,249,000 after purchasing an additional 407,069 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in istar in the second quarter worth about $4,648,000. Balyasny Asset Management LLC bought a new stake in istar in the second quarter worth about $4,188,000. American Century Companies Inc. bought a new stake in shares of istar during the third quarter valued at approximately $3,914,000. Finally, Claar Advisors LLC raised its stake in shares of istar by 62.8% during the third quarter. Claar Advisors LLC now owns 825,000 shares of the real estate investment trust’s stock valued at $9,735,000 after acquiring an additional 318,194 shares in the last quarter. 87.49% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on STAR shares. BidaskClub lowered istar from a “sell” rating to a “strong sell” rating in a research report on Monday, October 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 price target on shares of istar in a research report on Thursday, October 12th. TheStreet lowered istar from a “c” rating to a “d” rating in a research report on Friday, November 17th. Finally, ValuEngine upgraded istar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. istar currently has a consensus rating of “Hold” and an average target price of $14.00.

ILLEGAL ACTIVITY NOTICE: This article was originally published by Week Herald and is the property of of Week Herald. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://weekherald.com/2017/12/30/istar-inc-acquires-21075-shares-of-istar-inc-star-stock.html.

istar Company Profile

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)

Receive News & Ratings for istar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for istar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply