istar Inc (STAR) Major Shareholder Istar Inc. Acquires 24,254 Shares of Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. acquired 24,254 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were purchased at an average cost of $17.94 per share, for a total transaction of $435,116.76. Following the completion of the transaction, the insider now directly owns 6,937,810 shares in the company, valued at approximately $124,464,311.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Thursday, January 4th, Istar Inc. acquired 10,166 shares of istar stock. The shares were purchased at an average cost of $18.04 per share, for a total transaction of $183,394.64.
  • On Tuesday, January 2nd, Istar Inc. acquired 25,000 shares of istar stock. The shares were purchased at an average cost of $17.96 per share, for a total transaction of $449,000.00.
  • On Saturday, December 29th, Istar Inc. acquired 24,441 shares of istar stock. The shares were purchased at an average cost of $17.70 per share, for a total transaction of $432,605.70.
  • On Thursday, December 27th, Istar Inc. acquired 24,646 shares of istar stock. The shares were purchased at an average cost of $17.75 per share, for a total transaction of $437,466.50.
  • On Thursday, December 28th, Istar Inc. acquired 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. acquired 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. acquired 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. acquired 10,937 shares of istar stock. The shares were purchased at an average cost of $18.08 per share, for a total transaction of $197,740.96.
  • On Monday, December 18th, Istar Inc. purchased 10,000 shares of istar stock. The shares were bought at an average cost of $18.17 per share, for a total transaction of $181,700.00.
  • On Friday, December 15th, Istar Inc. purchased 17,749 shares of istar stock. The shares were bought at an average cost of $18.01 per share, for a total transaction of $319,659.49.

Shares of istar Inc (NYSE:STAR) opened at $11.27 on Tuesday. The company has a debt-to-equity ratio of 4.76, a quick ratio of 6.50 and a current ratio of 6.50. The stock has a market cap of $894.79, a PE ratio of -21.26 and a beta of 1.26. istar Inc has a 1-year low of $10.95 and a 1-year high of $12.68.

istar announced that its Board of Directors has initiated a share 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 generally an indication that the company’s leadership believes its stock is undervalued.

A number of analysts have recently issued reports on the stock. ValuEngine raised shares of istar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. TheStreet downgraded shares of istar from a “c” rating to a “d” rating in a report on Friday, November 17th. BidaskClub downgraded shares of istar from a “sell” rating to a “strong sell” rating in a report on Monday, October 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 price target on shares of istar in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. istar presently has a consensus rating of “Hold” and a consensus price target of $14.00.

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

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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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