istar (STAR) Downgraded by ValuEngine to Hold
ValuEngine lowered shares of istar (NYSE:STAR) from a buy rating to a hold rating in a research report sent to investors on Friday.
STAR has been the subject of a number of other reports. BidaskClub cut shares of istar from a sell rating to a strong sell rating in a report on Monday, October 23rd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $14.00 price objective on shares of istar in a research note on Thursday, October 12th. Finally, TheStreet lowered shares of istar from a c rating to a d rating in a research note on Friday, November 17th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. istar has a consensus rating of Hold and an average target price of $14.00.
Shares of istar (STAR) opened at $10.05 on Friday. The firm has a market cap of $805.24, a P/E ratio of -18.96 and a beta of 1.02. istar has a 1-year low of $10.04 and a 1-year high of $12.68. The company has a current ratio of 6.50, a quick ratio of 6.50 and a debt-to-equity ratio of 4.76.
In other news, major shareholder Istar Inc. acquired 14,948 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $17.81 per share, with a total value of $266,223.88. Following the purchase, the insider now owns 6,339,424 shares of the company’s stock, valued at approximately $112,905,141.44. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dale Ann Reiss sold 17,595 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.70, for a total transaction of $205,861.50. The disclosure for this sale can be found here. Insiders purchased a total of 600,891 shares of company stock valued at $10,594,606 in the last ninety days. Company insiders own 4.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in istar by 76.7% in the 4th quarter. American Century Companies Inc. now owns 586,065 shares of the real estate investment trust’s stock worth $6,623,000 after purchasing an additional 254,387 shares during the period. SeaCrest Wealth Management LLC acquired a new position in istar in the 4th quarter worth approximately $144,000. Chicago Equity Partners LLC boosted its stake in istar by 89.7% in the 4th quarter. Chicago Equity Partners LLC now owns 145,285 shares of the real estate investment trust’s stock worth $1,642,000 after purchasing an additional 68,705 shares during the period. James Investment Research Inc. boosted its stake in istar by 14.8% in the 4th quarter. James Investment Research Inc. now owns 77,980 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 10,070 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. boosted its stake in istar by 50.5% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 264,458 shares of the real estate investment trust’s stock worth $2,988,000 after purchasing an additional 88,730 shares during the period. 86.45% of the stock is owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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