Kestrel Investment Management Corp reduced its position in shares of iStar Financial Inc. (NYSE:STAR) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 402,750 shares of the real estate investment trust’s stock after selling 23,400 shares during the period. Kestrel Investment Management Corp owned about 0.56% of iStar Financial worth $4,849,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of iStar Financial by 2.2% in the first quarter. Vanguard Group Inc. now owns 11,136,556 shares of the real estate investment trust’s stock worth $131,411,000 after buying an additional 243,084 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of iStar Financial during the first quarter worth about $7,337,000. Bank of America Corp DE increased its position in shares of iStar Financial by 10.7% in the first quarter. Bank of America Corp DE now owns 274,267 shares of the real estate investment trust’s stock worth $3,236,000 after buying an additional 26,611 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of iStar Financial during the first quarter worth about $493,000. Finally, Van ECK Associates Corp increased its position in shares of iStar Financial by 12.4% in the first quarter. Van ECK Associates Corp now owns 157,049 shares of the real estate investment trust’s stock worth $1,853,000 after buying an additional 17,317 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Shares of iStar Financial Inc. (NYSE:STAR) traded up 0.43% during mid-day trading on Friday, hitting $11.66. The stock had a trading volume of 44,669 shares. iStar Financial Inc. has a 52-week low of $10.19 and a 52-week high of $12.83. The firm has a market cap of $841.74 million, a PE ratio of 6.35 and a beta of 1.29. The stock’s 50-day moving average price is $11.91 and its 200-day moving average price is $11.99.

iStar Financial (NYSE:STAR) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.87 by $0.63. iStar Financial had a net margin of 32.82% and a return on equity of 22.21%. The business had revenue of $347.87 million for the quarter. On average, analysts anticipate that iStar Financial Inc. will post $3.09 earnings per share for the current fiscal year.

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A number of research analysts have recently issued reports on STAR shares. ValuEngine raised iStar Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. TheStreet raised iStar Financial from a “d+” rating to a “c” rating in a research note on Wednesday, August 23rd. BidaskClub downgraded iStar Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 price target on shares of iStar Financial in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.00.

In related news, major shareholder Istar Inc. bought 11,760 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was acquired at an average price of $19.10 per share, with a total value of $224,616.00. Following the transaction, the insider now owns 5,044,600 shares in the company, valued at approximately $96,351,860. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 702,364 shares of company stock valued at $13,331,890. 4.41% of the stock is owned by company insiders.

About iStar Financial

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.

Institutional Ownership by Quarter for iStar Financial (NYSE:STAR)

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