iStar Financial Inc. (STAR) Short Interest Update
iStar Financial Inc. (NYSE:STAR) was the recipient of a significant growth in short interest during the month of September. As of September 29th, there was short interest totalling 8,268,827 shares, a growth of 52.5% from the September 15th total of 5,423,815 shares. Based on an average daily trading volume, of 700,963 shares, the days-to-cover ratio is presently 11.8 days. Approximately 12.0% of the shares of the company are short sold.
A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $14.00 price objective on shares of iStar Financial in a report on Thursday, October 12th. BidaskClub upgraded shares of iStar Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. TheStreet upgraded shares of iStar Financial from a “d+” rating to a “c” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine downgraded shares of iStar Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. iStar Financial presently has a consensus rating of “Hold” and a consensus price target of $14.00.
iStar Financial (NYSE:STAR) opened at 11.99 on Wednesday. The firm has a market capitalization of $865.56 million, a P/E ratio of 6.53 and a beta of 1.25. The company’s 50-day moving average is $11.69 and its 200-day moving average is $11.98. iStar Financial has a 52-week low of $10.55 and a 52-week high of $12.83.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.87 by ($0.63). iStar Financial had a return on equity of 22.21% and a net margin of 32.82%. The business had revenue of $347.87 million for the quarter. On average, analysts predict that iStar Financial will post $3.11 EPS for the current year.
In related news, major shareholder Istar Inc. acquired 7,840 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average cost of $19.48 per share, with a total value of $152,723.20. Following the completion of the acquisition, the insider now directly owns 5,044,600 shares of the company’s stock, valued at $98,268,808. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 819,104 shares of company stock worth $15,596,005 over the last three months. Corporate insiders own 4.41% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Fondren Management LP purchased a new position in iStar Financial during the 2nd quarter worth $361,000. Dynamic Technology Lab Private Ltd purchased a new position in iStar Financial during the 2nd quarter worth $294,000. Sterling Capital Management LLC grew its position in iStar Financial by 4.5% during the 2nd quarter. Sterling Capital Management LLC now owns 191,300 shares of the real estate investment trust’s stock worth $2,303,000 after purchasing an additional 8,275 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in iStar Financial by 2.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 144,505 shares of the real estate investment trust’s stock worth $1,740,000 after purchasing an additional 2,950 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in iStar Financial by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,243 shares of the real estate investment trust’s stock worth $653,000 after purchasing an additional 926 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.
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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