Stifel Financial Corp Lowers Position in istar Inc (STAR)

Stifel Financial Corp lowered its position in istar Inc (NYSE:STAR) by 21.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,416 shares of the real estate investment trust’s stock after selling 3,868 shares during the quarter. Stifel Financial Corp’s holdings in istar were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in istar by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,081 shares of the real estate investment trust’s stock worth $2,826,000 after buying an additional 33,812 shares during the last quarter. Bank of New York Mellon Corp raised its position in istar by 145.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 799,850 shares of the real estate investment trust’s stock worth $8,934,000 after buying an additional 473,697 shares during the last quarter. BlackRock Inc. raised its position in istar by 86.3% in the 3rd quarter. BlackRock Inc. now owns 11,486,671 shares of the real estate investment trust’s stock worth $128,303,000 after buying an additional 5,322,317 shares during the last quarter. Great West Life Assurance Co. Can raised its position in istar by 1,180.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 86,775 shares of the real estate investment trust’s stock worth $970,000 after buying an additional 80,000 shares during the last quarter. Finally, LPL Financial LLC raised its position in istar by 14.0% in the 3rd quarter. LPL Financial LLC now owns 46,425 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 5,684 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

A number of equities analysts have weighed in on STAR shares. JMP Securities raised istar from a “market perform” rating to an “outperform” rating and set a $11.50 target price for the company in a research report on Monday, December 31st. Zacks Investment Research upgraded istar from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Finally, ValuEngine upgraded istar from a “sell” rating to a “hold” rating in a research note on Monday, February 4th.

istar stock opened at $8.53 on Monday. The stock has a market cap of $568.22 million, a price-to-earnings ratio of -8.98 and a beta of 1.00. istar Inc has a 52-week low of $7.84 and a 52-week high of $11.44. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 3.41.

istar (NYSE:STAR) last released its quarterly earnings results on Monday, February 25th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.22. istar had a negative return on equity of 1.90% and a negative net margin of 4.04%. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, sell-side analysts expect that istar Inc will post -0.7 earnings per share for the current fiscal year.

In other news, major shareholder Istar Inc. purchased 2,488 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was acquired at an average cost of $19.33 per share, for a total transaction of $48,093.04. Following the purchase, the insider now directly owns 7,700,846 shares in the company, valued at approximately $148,857,353.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have acquired 59,929 shares of company stock valued at $1,254,325. Corporate insiders own 5.01% of the company’s stock.

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istar Company Profile

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.

Further Reading: What is a Buy-Side Analyst?

Want to see what other hedge funds are holding STAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for istar Inc (NYSE:STAR).

Institutional Ownership by Quarter for istar (NYSE:STAR)

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