iStar Financial Inc. (STAR) Stake Raised by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY boosted its stake in iStar Financial Inc. (NYSE:STAR) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,918 shares of the real estate investment trust’s stock after buying an additional 1,687 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in iStar Financial were worth $589,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in iStar Financial by 43.9% in the first quarter. Sei Investments Co. now owns 9,017 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 2,749 shares during the period. SG Americas Securities LLC purchased a new stake in iStar Financial during the first quarter valued at about $111,000. Principal Financial Group Inc. boosted its stake in iStar Financial by 2.9% in the first quarter. Principal Financial Group Inc. now owns 13,449 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 373 shares during the period. Affinity Investment Advisors LLC purchased a new stake in iStar Financial during the first quarter valued at about $213,000. Finally, Neuberger Berman Group LLC boosted its stake in iStar Financial by 2.4% in the first quarter. Neuberger Berman Group LLC now owns 21,334 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 492 shares during the period. 82.78% of the stock is owned by institutional investors and hedge funds.
iStar Financial Inc. (NYSE STAR) traded down 0.34% during midday trading on Wednesday, hitting $11.90. 99,471 shares of the stock traded hands. The company’s 50-day moving average is $12.03 and its 200-day moving average is $11.96. iStar Financial Inc. has a one year low of $10.19 and a one year high of $12.83. The company has a market cap of $858.05 million, a PE ratio of 23.99 and a beta of 1.29.
iStar Financial (NYSE:STAR) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.87 by $0.63. The firm 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 research analysts expect that iStar Financial Inc. will post $3.14 EPS for the current fiscal year.
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STAR has been the subject of several recent analyst reports. ValuEngine raised shares of iStar Financial from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of iStar Financial in a research report on Friday, July 21st. Finally, BidaskClub cut shares of iStar Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th.
In other news, major shareholder Istar Inc. purchased 11,760 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was acquired at an average cost of $19.10 per share, with a total value of $224,616.00. Following the acquisition, the insider now owns 5,044,600 shares in the company, valued at $96,351,860. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 307,527 shares of company stock valued at $5,733,905. Company insiders own 4.76% of the company’s stock.
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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