Stevens Capital Management LP Acquires Shares of 12,250 iStar Financial Inc. (STAR)
Stevens Capital Management LP acquired a new position in shares of iStar Financial Inc. (NYSE:STAR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,250 shares of the real estate investment trust’s stock, valued at approximately $147,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in iStar Financial by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 11,136,556 shares of the real estate investment trust’s stock valued at $131,411,000 after buying an additional 243,084 shares during the last quarter. FMR LLC lifted its position in iStar Financial by 13.1% during the 1st quarter. FMR LLC now owns 5,087,931 shares of the real estate investment trust’s stock worth $60,038,000 after acquiring an additional 588,400 shares during the last quarter. UBS Group AG lifted its position in iStar Financial by 15.6% during the 1st quarter. UBS Group AG now owns 4,393,027 shares of the real estate investment trust’s stock worth $51,838,000 after acquiring an additional 591,244 shares during the last quarter. State Street Corp lifted its position in iStar Financial by 2.6% during the 1st quarter. State Street Corp now owns 1,460,335 shares of the real estate investment trust’s stock worth $17,233,000 after acquiring an additional 36,441 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in iStar Financial during the 1st quarter worth $7,337,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods restated a “hold” rating on shares of iStar Financial in a report on Friday, July 21st. ValuEngine upgraded iStar Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. BidaskClub lowered iStar Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Finally, TheStreet raised iStar Financial from a “d+” rating to a “c” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. iStar Financial presently has an average rating of “Hold” and an average price target of $14.00.
iStar Financial Inc. (NYSE STAR) opened at 12.04 on Tuesday. The stock’s 50 day moving average price is $11.66 and its 200-day moving average price is $11.95. iStar Financial Inc. has a one year low of $10.45 and a one year high of $12.83. The firm has a market capitalization of $869.17 million, a price-to-earnings ratio of 6.56 and a beta of 1.25.
iStar Financial (NYSE:STAR) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.63). The business had revenue of $347.87 million for the quarter. iStar Financial had a return on equity of 22.21% and a net margin of 32.82%. On average, equities research analysts expect that iStar Financial Inc. will post $3.11 EPS for the current fiscal year.
In other iStar Financial news, major shareholder Istar Inc. acquired 49,809 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was bought at an average cost of $18.36 per share, with a total value of $914,493.24. Following the completion of the transaction, the insider now directly owns 5,142,099 shares in the company, valued at approximately $94,408,937.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired 819,104 shares of company stock worth $15,596,005 in the last 90 days. Corporate insiders own 4.41% of the company’s stock.
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iStar Financial 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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