iStar Financial’s (STAR) Hold Rating Reiterated at Keefe, Bruyette & Woods

iStar Financial Inc. (NYSE:STAR)‘s stock had its “hold” rating restated by analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, August 31st. They currently have a $14.00 target price on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 21.48% from the company’s current price.

Several other equities analysts also recently commented on the company. TheStreet raised iStar Financial from a “d+” rating to a “c” rating in a research report on Wednesday, August 23rd. ValuEngine cut iStar Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub cut iStar Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. iStar Financial currently has a consensus rating of “Hold” and an average price target of $14.00.

Shares of iStar Financial (NYSE STAR) traded down 2.43% during mid-day trading on Thursday, reaching $11.23. 12,290,905 shares of the company’s stock traded hands. iStar Financial has a 12-month low of $10.45 and a 12-month high of $12.83. The company has a market cap of $810.69 million, a P/E ratio of 6.12 and a beta of 1.29. The firm has a 50-day moving average of $11.71 and a 200 day moving average of $11.96.

iStar Financial (NYSE:STAR) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.87 by ($0.63). The company had revenue of $347.87 million for the quarter. iStar Financial had a net margin of 32.82% and a return on equity of 22.21%. Equities analysts forecast that iStar Financial will post $3.09 EPS for the current year.

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In other iStar Financial news, major shareholder Istar Inc. purchased 11,760 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was bought at an average cost of $19.10 per share, for a total transaction of $224,616.00. Following the completion of the purchase, the insider now owns 5,044,600 shares in the company, valued at approximately $96,351,860. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders acquired 738,702 shares of company stock valued at $14,048,614. 4.41% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of iStar Financial in the second quarter worth about $294,000. Sterling Capital Management LLC raised its stake in shares of iStar Financial by 4.5% in the second quarter. Sterling Capital Management LLC now owns 191,300 shares of the real estate investment trust’s stock worth $2,303,000 after purchasing an additional 8,275 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in iStar Financial by 2.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 144,505 shares of the real estate investment trust’s stock worth $1,740,000 after acquiring an additional 2,950 shares during the period. The Manufacturers Life Insurance Company grew its holdings in iStar Financial by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 54,243 shares of the real estate investment trust’s stock worth $653,000 after acquiring an additional 926 shares during the period. Finally, State Street Corp grew its holdings in iStar Financial by 4.2% during the second quarter. State Street Corp now owns 1,522,171 shares of the real estate investment trust’s stock worth $18,321,000 after acquiring an additional 61,836 shares during the period. Hedge funds and other institutional investors own 83.47% of the company’s stock.

iStar Financial Company Profile

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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