Insider Buying: istar Inc (NYSE:STAR) Major Shareholder Buys 12,000 Shares of Stock

istar Inc (NYSE:STAR) major shareholder Istar Inc. purchased 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average price of $29.97 per share, for a total transaction of $359,640.00. Following the purchase, the insider now owns 20,424,272 shares of the company’s stock, valued at approximately $612,115,431.84. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Istar Inc. also recently made the following trade(s):

  • On Wednesday, June 26th, Istar Inc. acquired 5,000 shares of istar stock. The shares were purchased at an average price of $28.20 per share, for a total transaction of $141,000.00.
  • On Monday, June 24th, Istar Inc. acquired 4,644 shares of istar stock. The shares were purchased at an average price of $28.73 per share, for a total transaction of $133,422.12.
  • On Friday, June 21st, Istar Inc. acquired 4,826 shares of istar stock. The shares were purchased at an average price of $28.50 per share, for a total transaction of $137,541.00.
  • On Wednesday, June 19th, Istar Inc. acquired 5,000 shares of istar stock. The shares were purchased at an average price of $28.70 per share, for a total transaction of $143,500.00.
  • On Monday, June 17th, Istar Inc. bought 5,000 shares of istar stock. The shares were bought at an average cost of $29.16 per share, with a total value of $145,800.00.
  • On Friday, June 14th, Istar Inc. bought 5,000 shares of istar stock. The shares were bought at an average cost of $29.71 per share, with a total value of $148,550.00.
  • On Wednesday, June 12th, Istar Inc. bought 5,000 shares of istar stock. The shares were bought at an average cost of $28.32 per share, with a total value of $141,600.00.
  • On Monday, June 10th, Istar Inc. bought 4,916 shares of istar stock. The shares were bought at an average cost of $28.77 per share, with a total value of $141,433.32.
  • On Friday, June 7th, Istar Inc. bought 5,000 shares of istar stock. The shares were bought at an average cost of $30.10 per share, with a total value of $150,500.00.
  • On Monday, June 3rd, Istar Inc. bought 12,000 shares of istar stock. The shares were bought at an average cost of $27.19 per share, with a total value of $326,280.00.

STAR stock traded up $0.31 on Friday, reaching $12.42. The company’s stock had a trading volume of 2,376,312 shares, compared to its average volume of 689,773. istar Inc has a 52 week low of $7.84 and a 52 week high of $12.42. The company has a market capitalization of $773.74 million, a P/E ratio of -13.07 and a beta of 0.63. The business has a fifty day simple moving average of $10.70. The company has a debt-to-equity ratio of 3.07, a current ratio of 3.68 and a quick ratio of 3.68.

istar (NYSE:STAR) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). istar had a negative return on equity of 5.87% and a negative net margin of 14.17%. The business had revenue of $106.80 million during the quarter, compared to the consensus estimate of $125.90 million. During the same period last year, the company earned $0.35 earnings per share. The business’s quarterly revenue was down 70.7% compared to the same quarter last year. Research analysts anticipate that istar Inc will post -0.93 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.22%. This is a positive change from istar’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, May 14th. istar’s dividend payout ratio is -42.11%.

STAR has been the subject of several recent research reports. JMP Securities lowered istar from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. Zacks Investment Research lowered istar from a “buy” rating to a “sell” rating in a report on Saturday, June 8th. ValuEngine lowered istar from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Finally, Raymond James raised istar from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 28th. They noted that the move was a valuation call.

A number of hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund grew its holdings in istar by 4.0% in the 1st quarter. Texas Permanent School Fund now owns 46,278 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 1,787 shares in the last quarter. Comerica Bank boosted its stake in istar by 2.9% during the 1st quarter. Comerica Bank now owns 67,224 shares of the real estate investment trust’s stock valued at $576,000 after purchasing an additional 1,925 shares in the last quarter. Rhumbline Advisers boosted its stake in istar by 1.0% during the 1st quarter. Rhumbline Advisers now owns 206,520 shares of the real estate investment trust’s stock valued at $1,739,000 after purchasing an additional 2,094 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in istar by 444.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,440 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 2,808 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in istar by 4.4% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 121,458 shares of the real estate investment trust’s stock valued at $1,114,000 after purchasing an additional 5,148 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

About istar

iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and $40 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.

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Insider Buying and Selling by Quarter for istar (NYSE:STAR)

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