Nina Matis Sells 37,000 Shares of iStar Financial Inc. (STAR) Stock
iStar Financial Inc. (NYSE:STAR) insider Nina Matis sold 37,000 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $12.18, for a total transaction of $450,660.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of iStar Financial Inc. (NYSE:STAR) opened at 12.54 on Wednesday. The company’s 50-day moving average is $11.22 and its 200-day moving average is $10.49. The company has a market capitalization of $892.55 million, a PE ratio of 16.02 and a beta of 1.66. iStar Financial Inc. has a one year low of $7.59 and a one year high of $13.34.
iStar Financial (NYSE:STAR) last issued its earnings results on Thursday, November 3rd. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. iStar Financial had a net margin of 22.55% and a return on equity of 17.13%. Equities analysts predict that iStar Financial Inc. will post $0.84 earnings per share for the current year.
Hedge funds have recently modified their holdings of the stock. LPL Financial LLC raised its stake in shares of iStar Financial by 3.6% in the third quarter. LPL Financial LLC now owns 43,580 shares of the company’s stock valued at $464,000 after buying an additional 1,534 shares during the period. Credit Suisse AG raised its stake in shares of iStar Financial by 10.4% in the third quarter. Credit Suisse AG now owns 291,182 shares of the company’s stock valued at $3,124,000 after buying an additional 27,361 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of iStar Financial by 466.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 90,000 shares of the company’s stock valued at $966,000 after buying an additional 74,100 shares during the period. Clinton Group Inc. acquired a new stake in shares of iStar Financial during the third quarter valued at $115,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of iStar Financial during the third quarter valued at $530,000. Institutional investors and hedge funds own 87.89% of the company’s stock.
Separately, Keefe, Bruyette & Woods increased their price objective on shares of iStar Financial from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, August 5th.
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iStar Financial Company Profile
iStar Inc, formerly iStar Financial Inc, finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s business segments include 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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