Koch Industries Inc. bought a new position in shares of istar Inc (NYSE:STAR) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,157 shares of the real estate investment trust’s stock, valued at approximately $137,000.
Several other institutional investors also recently modified their holdings of STAR. Private Management Group Inc. lifted its holdings in istar by 87.4% in the fourth quarter. Private Management Group Inc. now owns 992,160 shares of the real estate investment trust’s stock valued at $11,211,000 after acquiring an additional 462,604 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in istar by 48.6% in the fourth quarter. OppenheimerFunds Inc. now owns 1,301,809 shares of the real estate investment trust’s stock valued at $14,710,000 after acquiring an additional 425,470 shares during the last quarter. American Century Companies Inc. acquired a new position in istar in the third quarter valued at approximately $3,914,000. Claar Advisors LLC lifted its holdings in istar by 62.8% in 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 during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in istar by 63.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 818,793 shares of the real estate investment trust’s stock valued at $9,662,000 after acquiring an additional 317,953 shares during the last quarter. Institutional investors and hedge funds own 88.93% of the company’s stock.
istar Inc (NYSE:STAR) opened at $10.14 on Friday. istar Inc has a twelve month low of $9.75 and a twelve month high of $12.68. The company has a market capitalization of $682.15, a P/E ratio of 9.14 and a beta of 1.01. The company has a debt-to-equity ratio of 3.91, a current ratio of 8.28 and a quick ratio of 8.28.
istar (NYSE:STAR) last released its quarterly earnings data on Monday, February 26th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. istar had a return on equity of 23.62% and a net margin of 25.67%. The firm had revenue of $103.14 million for the quarter, compared to analysts’ expectations of $174.70 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis.
istar declared that its board has approved a share repurchase program on Thursday, December 14th that permits the company to buyback 50,000,000 outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, major shareholder Istar Inc. purchased 10,340 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $17.74 per share, for a total transaction of $183,431.60. Following the completion of the purchase, the insider now directly owns 7,257,810 shares of the company’s stock, valued at $128,753,549.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dale Ann Reiss sold 17,595 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $11.70, for a total value of $205,861.50. The disclosure for this sale can be found here. Insiders have acquired 376,453 shares of company stock worth $6,723,258 over the last 90 days. 4.41% of the stock is owned by insiders.
Separately, ValuEngine upgraded istar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.00.
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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.
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