Vanguard Group Inc. Buys 243,084 Shares of iStar Financial Inc. (NYSE:STAR)
Vanguard Group Inc. boosted its position in shares of iStar Financial Inc. (NYSE:STAR) by 2.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 11,136,556 shares of the real estate investment trust’s stock after buying an additional 243,084 shares during the period. Vanguard Group Inc. owned about 15.46% of iStar Financial worth $131,411,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in iStar Financial by 43.9% in the first quarter. Sei Investments Co. now owns 9,017 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,749 shares during the period. SG Americas Securities LLC bought a new stake in shares of iStar Financial during the first quarter worth about $111,000. Principal Financial Group Inc. raised its stake in shares of iStar Financial by 2.9% in the first quarter. Principal Financial Group Inc. now owns 13,449 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 373 shares in the last quarter. Affinity Investment Advisors LLC bought a new stake in shares of iStar Financial during the first quarter worth about $213,000. Finally, Neuberger Berman Group LLC raised its stake in shares of iStar Financial by 2.4% in the first quarter. Neuberger Berman Group LLC now owns 21,334 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 492 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
Shares of iStar Financial Inc. (STAR) traded up 0.42% during mid-day trading on Friday, hitting $11.94. 202,079 shares of the stock were exchanged. The stock has a market cap of $861.95 million, a price-to-earnings ratio of 6.50 and a beta of 1.29. The company has a 50-day moving average price of $11.98 and a 200-day moving average price of $11.97. iStar Financial Inc. has a 12 month low of $10.19 and a 12 month high of $12.83.
iStar Financial (NYSE:STAR) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing the consensus estimate of $2.87 by $0.63. The firm had revenue of $347.87 million during the quarter. iStar Financial had a net margin of 32.82% and a return on equity of 22.21%. Equities analysts expect that iStar Financial Inc. will post $3.14 earnings per share for the current year.
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A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of iStar Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of iStar Financial in a research note on Friday, July 21st. Finally, ValuEngine lowered shares of iStar Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st.
In other news, major shareholder Istar Inc. bought 19,600 shares of the company’s stock in a transaction on Friday, August 18th. The stock was bought at an average cost of $19.68 per share, with a total value of $385,728.00. Following the transaction, the insider now directly owns 5,665,385 shares in the company, valued at approximately $111,494,776.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders acquired 547,018 shares of company stock valued at $10,305,277. 4.76% of the stock is currently owned by corporate insiders.
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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