iStar Financial Inc. (STAR) Downgraded by TheStreet

TheStreet lowered shares of iStar Financial Inc. (NYSE:STAR) from a c rating to a d rating in a research report sent to investors on Friday.

A number of other equities research analysts have also weighed in on STAR. Keefe, Bruyette & Woods reissued a hold rating on shares of iStar Financial in a research note on Friday, July 21st. BidaskClub lowered iStar Financial from a sell rating to a strong sell rating in a research note on Monday, July 31st. Finally, ValuEngine lowered iStar Financial from a buy rating to a hold rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of Hold and an average price target of $14.00.

Shares of iStar Financial (NYSE:STAR) opened at $11.25 on Friday. iStar Financial has a 52 week low of $10.95 and a 52 week 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. The firm has a market capitalization of $893.82, a PE ratio of 5.98 and a beta of 1.29.

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In other iStar Financial news, Director Matthew Gaden Western Wood purchased 139,000 shares of iStar Financial stock in a transaction that occurred on Thursday, September 28th. The shares were bought at an average price of $0.28 per share, for a total transaction of $38,920.00. Also, major shareholder Istar Inc. purchased 29,865 shares of iStar Financial stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $19.39 per share, for a total transaction of $579,082.35. Following the acquisition, the insider now owns 5,805,264 shares in the company, valued at $112,564,068.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 724,481 shares of company stock worth $6,168,469. 4.41% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in iStar Financial by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 11,136,556 shares of the real estate investment trust’s stock valued at $131,411,000 after purchasing an additional 243,084 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of iStar Financial by 15.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 225,944 shares of the real estate investment trust’s stock worth $2,720,000 after acquiring an additional 30,434 shares during the period. Wells Fargo & Company MN grew its holdings in shares of iStar Financial by 237.1% during the 2nd quarter. Wells Fargo & Company MN now owns 435,379 shares of the real estate investment trust’s stock worth $5,242,000 after acquiring an additional 306,243 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of iStar Financial by 52.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 500,840 shares of the real estate investment trust’s stock worth $6,031,000 after acquiring an additional 171,856 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of iStar Financial by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 437,418 shares of the real estate investment trust’s stock worth $5,267,000 after acquiring an additional 38,450 shares during the period. Institutional investors own 86.09% of the company’s stock.

iStar Financial 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.

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