Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of istar Inc (NYSE:STAR) by 58.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 110,500 shares of the real estate investment trust’s stock after buying an additional 40,800 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.16% of istar worth $1,192,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Swiss National Bank grew its stake in istar by 8.8% in the second quarter. Swiss National Bank now owns 122,300 shares of the real estate investment trust’s stock valued at $1,320,000 after purchasing an additional 9,900 shares in the last quarter. Orinda Asset Management LLC bought a new position in istar in the second quarter valued at approximately $836,000. Stevens Capital Management LP grew its stake in istar by 114.6% in the second quarter. Stevens Capital Management LP now owns 25,345 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 13,533 shares in the last quarter. Citadel Advisors LLC grew its stake in istar by 86.5% in the second quarter. Citadel Advisors LLC now owns 181,471 shares of the real estate investment trust’s stock valued at $1,958,000 after purchasing an additional 84,178 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in istar in the second quarter valued at approximately $147,000. Institutional investors and hedge funds own 82.74% of the company’s stock.
STAR stock traded down $0.05 during mid-day trading on Friday, reaching $10.80. The company had a trading volume of 785,223 shares, compared to its average volume of 622,017. The company has a quick ratio of 8.43, a current ratio of 8.43 and a debt-to-equity ratio of 3.20. The company has a market cap of $759.20 million, a price-to-earnings ratio of 4.68 and a beta of 0.94. istar Inc has a 52 week low of $9.75 and a 52 week high of $12.20.
In other istar news, major shareholder Istar Inc. bought 129,600 shares of istar stock in a transaction dated Thursday, September 6th. The stock was bought at an average cost of $16.35 per share, for a total transaction of $2,118,960.00. Following the purchase, the insider now owns 7,387,410 shares of the company’s stock, valued at approximately $120,784,153.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.01% of the company’s stock.
A number of research firms have weighed in on STAR. Zacks Investment Research upgraded istar from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday. ValuEngine downgraded istar from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.00.
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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