Dalton Greiner Hartman Maher & Co. grew its position in istar Inc (NYSE:STAR) by 50.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 264,458 shares of the real estate investment trust’s stock after buying an additional 88,730 shares during the period. Dalton Greiner Hartman Maher & Co. owned 0.39% of istar worth $2,988,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Real Estate Management Services LLC boosted its holdings in shares of istar by 3.5% in the 3rd quarter. Real Estate Management Services LLC now owns 2,393,502 shares of the real estate investment trust’s stock valued at $28,243,000 after buying an additional 80,002 shares in the last quarter. State Street Corp boosted its holdings in shares of istar by 4.2% in the 2nd quarter. State Street Corp now owns 1,522,171 shares of the real estate investment trust’s stock valued at $18,321,000 after buying an additional 61,836 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of istar by 2.2% in the 2nd quarter. Citigroup Inc. now owns 1,036,107 shares of the real estate investment trust’s stock valued at $12,475,000 after buying an additional 22,508 shares in the last quarter. Claar Advisors LLC boosted its holdings in shares of istar by 62.8% in the 3rd quarter. Claar Advisors LLC now owns 825,000 shares of the real estate investment trust’s stock valued at $9,735,000 after buying an additional 318,194 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of istar by 63.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 818,793 shares of the real estate investment trust’s stock valued at $9,662,000 after buying an additional 317,953 shares in the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
In related news, Director Dale Ann Reiss sold 17,595 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $11.70, for a total value of $205,861.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Istar Inc. purchased 12,747 shares of istar stock in a transaction on Thursday, November 9th. The shares were acquired at an average cost of $17.93 per share, with a total value of $228,553.71. Following the completion of the transaction, the insider now directly owns 6,339,424 shares in the company, valued at approximately $113,665,872.32. The disclosure for this purchase can be found here. Insiders purchased a total of 582,060 shares of company stock valued at $7,964,875 over the last ninety days. 4.41% of the stock is currently owned by insiders.
istar Inc (STAR) opened at $11.42 on Friday. The company has a market cap of $907.40, a P/E ratio of -21.55 and a beta of 1.26. The company has a debt-to-equity ratio of 4.76, a current ratio of 6.50 and a quick ratio of 6.50. istar Inc has a 1 year low of $10.95 and a 1 year high of $12.68.
istar declared that its board has initiated a share repurchase program on Thursday, December 14th that allows the company to buyback 50,000,000 shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
STAR has been the subject of several research analyst reports. BidaskClub lowered shares of istar from a “sell” rating to a “strong sell” rating in a research report on Monday, October 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $14.00 price objective on shares of istar in a research report on Thursday, October 12th. ValuEngine raised shares of istar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Finally, TheStreet lowered shares of istar from a “c” rating to a “d” rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $14.00.
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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