iStar Financial Inc. (NYSE:STAR) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday, October 23rd.
Several other analysts also recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $14.00 price target on shares of iStar Financial in a research note on Thursday, October 12th. TheStreet upgraded iStar Financial from a “d+” rating to a “c” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine lowered iStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. iStar Financial has a consensus rating of “Hold” and an average target price of $14.00.
iStar Financial (NYSE STAR) opened at $11.31 on Monday. The company has a current ratio of 6.50, a quick ratio of 6.50 and a debt-to-equity ratio of 4.76. The company has a market capitalization of $775.43, a P/E ratio of 6.05 and a beta of 1.30. iStar Financial has a 52-week low of $10.95 and a 52-week high of $12.83.
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In related news, major shareholder Istar Inc. purchased 19,600 shares of the stock in a transaction dated Friday, August 18th. The stock was bought at an average cost of $19.68 per share, for a total transaction of $385,728.00. Following the completion of the acquisition, the insider now owns 5,665,385 shares of the company’s stock, valued at $111,494,776.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have acquired 312,147 shares of company stock valued at $6,078,514. Company insiders own 4.41% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in iStar Financial by 2.2% during the first quarter. Vanguard Group Inc. now owns 11,136,556 shares of the real estate investment trust’s stock valued at $131,411,000 after acquiring an additional 243,084 shares during the last quarter. FMR LLC lifted its position in iStar Financial by 13.1% in the 1st quarter. FMR LLC now owns 5,087,931 shares of the real estate investment trust’s stock valued at $60,038,000 after acquiring an additional 588,400 shares in the last quarter. Real Estate Management Services LLC increased its stake in iStar Financial 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 during the last quarter. State Street Corp increased its stake in iStar Financial 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 during the last quarter. Finally, Citigroup Inc. increased its stake in shares of iStar Financial by 2.2% during the 2nd quarter. Citigroup Inc. now owns 1,036,107 shares of the real estate investment trust’s stock worth $12,475,000 after purchasing an additional 22,508 shares during the last quarter. 83.06% of the stock is currently owned by institutional investors and hedge funds.
About iStar Financial
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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