Goldman Sachs Group Inc. cut its stake in iStar Financial Inc. (NYSE:STAR) by 33.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,921,304 shares of the real estate investment trust’s stock after selling 944,876 shares during the period. Goldman Sachs Group Inc. owned 2.66% of iStar Financial worth $23,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in 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 valued at $159,000 after acquiring an additional 373 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in 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 valued at $252,000 after acquiring an additional 492 shares during the last quarter. ETRADE Capital Management LLC boosted its holdings in iStar Financial by 4.7% in the second quarter. ETRADE Capital Management LLC now owns 13,703 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 620 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in iStar Financial by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 49,918 shares of the real estate investment trust’s stock valued at $589,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Affinity Investment Advisors LLC boosted its holdings in iStar Financial by 14.2% in the second quarter. Affinity Investment Advisors LLC now owns 20,583 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 2,564 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

In other iStar Financial news, major shareholder Istar Inc. acquired 7,840 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average cost of $19.48 per share, for a total transaction of $152,723.20. Following the transaction, the insider now owns 5,044,600 shares in the company, valued at $98,268,808. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders bought 819,104 shares of company stock worth $15,596,005. Corporate insiders own 4.41% of the company’s stock.

STAR has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.00 target price on shares of iStar Financial in a report on Thursday, August 31st. BidaskClub cut iStar Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine cut iStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, TheStreet upgraded iStar Financial from a “d+” rating to a “c” rating in a 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. The company presently has an average rating of “Hold” and a consensus target price of $14.00.

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iStar Financial Inc. (STAR) opened at 12.08 on Friday. The firm has a market capitalization of $872.06 million, a price-to-earnings ratio of 6.58 and a beta of 1.25. iStar Financial Inc. has a 52 week low of $10.55 and a 52 week high of $12.83. The firm has a 50-day moving average price of $11.68 and a 200 day moving average price of $11.98.

iStar Financial (NYSE:STAR) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.87 by ($0.63). The business had revenue of $347.87 million during the quarter. iStar Financial had a return on equity of 22.21% and a net margin of 32.82%. On average, equities research analysts forecast that iStar Financial Inc. will post $3.11 earnings per share for the current fiscal year.

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.

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

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