Chicago Equity Partners LLC grew its stake in istar Inc (NYSE:STAR) by 89.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,285 shares of the real estate investment trust’s stock after acquiring an additional 68,705 shares during the quarter. Chicago Equity Partners LLC owned about 0.21% of istar worth $1,642,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. James Investment Research Inc. grew its holdings in shares of istar by 14.8% during the 4th quarter. James Investment Research Inc. now owns 77,980 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 10,070 shares during the period. Dalton Greiner Hartman Maher & Co. grew its holdings in shares of istar by 50.5% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 264,458 shares of the real estate investment trust’s stock worth $2,988,000 after purchasing an additional 88,730 shares during the period. GSA Capital Partners LLP grew its holdings in shares of istar by 21.9% during the 3rd quarter. GSA Capital Partners LLP now owns 36,154 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 6,498 shares during the period. Sterling Capital Management LLC grew its holdings in shares of istar by 8.8% during the 3rd quarter. Sterling Capital Management LLC now owns 208,155 shares of the real estate investment trust’s stock worth $2,456,000 after purchasing an additional 16,855 shares during the period. Finally, Claar Advisors LLC grew its holdings in shares of istar by 62.8% during the 3rd quarter. Claar Advisors LLC now owns 825,000 shares of the real estate investment trust’s stock worth $9,735,000 after purchasing an additional 318,194 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.
In other news, major shareholder Istar Inc. bought 5,100 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average cost of $18.62 per share, for a total transaction of $94,962.00. Following the acquisition, the insider now directly owns 6,426,225 shares of the company’s stock, valued at approximately $119,656,309.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dale Ann Reiss sold 17,595 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $11.70, for a total value of $205,861.50. The disclosure for this sale can be found here. Insiders have purchased a total of 518,482 shares of company stock valued at $9,283,500 over the last 90 days. 4.41% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on STAR. ValuEngine upgraded istar from a “hold” rating to a “buy” rating in a report on Friday, December 15th. TheStreet cut istar from a “c” rating to a “d” rating in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.00.
istar Inc (NYSE STAR) opened at $10.35 on Thursday. The firm has a market capitalization of $710.64, a price-to-earnings ratio of 11.37 and a beta of 1.02. The company has a current ratio of 6.50, a quick ratio of 6.50 and a debt-to-equity ratio of 4.76. istar Inc has a twelve month low of $9.75 and a twelve month high of $12.68.
istar declared that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that permits the company to buyback 50,000,000 shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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istar 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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