istar Inc (STAR) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of istar Inc (NYSE:STAR) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Several other research firms also recently commented on STAR. ValuEngine upgraded istar from a hold rating to a buy rating in a report on Friday, June 23rd. Keefe, Bruyette & Woods reiterated a hold rating on shares of istar in a report on Friday, March 31st. Finally, JMP Securities began coverage on istar in a report on Wednesday, April 5th. They issued a market perform rating for the company. They noted that the move was a valuation call.

istar (NYSE STAR) traded down 0.16% during mid-day trading on Tuesday, hitting $12.18. 88,974 shares of the stock traded hands. istar has a 52-week low of $9.93 and a 52-week high of $12.83. The firm has a market cap of $878.24 million, a P/E ratio of 24.56 and a beta of 1.30. The firm’s 50-day moving average is $12.13 and its 200 day moving average is $12.02.

istar (NYSE:STAR) last released its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.02 by $0.28. istar had a negative return on equity of 10.83% and a negative net margin of 21.12%. The business had revenue of $113.56 million during the quarter. Equities analysts predict that istar will post $3.14 EPS for the current fiscal year.

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In other istar news, insider Nina Matis sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $12.30, for a total value of $492,000.00. Following the transaction, the insider now directly owns 240,386 shares of the company’s stock, valued at $2,956,747.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.76% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in STAR. Vanguard Group Inc. boosted its position in shares of istar by 2.2% in 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 buying an additional 243,084 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of istar by 0.8% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,502,961 shares of the real estate investment trust’s stock valued at $88,535,000 after buying an additional 56,280 shares during the last quarter. FMR LLC boosted its position in shares of istar by 13.1% in the first quarter. FMR LLC now owns 5,087,931 shares of the real estate investment trust’s stock valued at $60,038,000 after buying an additional 588,400 shares during the last quarter. UBS Group AG boosted its position in shares of istar by 15.6% in the first quarter. UBS Group AG now owns 4,393,027 shares of the real estate investment trust’s stock valued at $51,838,000 after buying an additional 591,244 shares during the last quarter. Finally, Real Estate Management Services LLC boosted its position in shares of istar by 4.8% in the first quarter. Real Estate Management Services LLC now owns 2,313,500 shares of the real estate investment trust’s stock valued at $27,299,000 after buying an additional 106,245 shares during the last quarter. 83.23% of the stock is currently owned by institutional investors and hedge funds.

About istar

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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