R.M.SINCERBEAUX Capital Management LLC held its stake in shares of iStar Financial Inc. (NYSE:STAR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the real estate investment trust’s stock at the end of the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC owned approximately 0.08% of iStar Financial worth $662,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Sei Investments Co. raised its holdings in shares of iStar Financial by 43.9% in the 1st quarter. Sei Investments Co. now owns 9,017 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,749 shares during the period. SG Americas Securities LLC bought a new stake in shares of iStar Financial in the 1st quarter valued at about $111,000. Tudor Investment Corp ET AL bought a new stake in shares of iStar Financial in the 1st quarter valued at about $124,000. BNP Paribas Arbitrage SA raised its holdings in shares of iStar Financial by 160.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,937 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 7,356 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of iStar Financial by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 13,449 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 373 shares during the period. 83.47% of the stock is currently owned by hedge funds and other institutional investors.
iStar Financial Inc. (NYSE:STAR) traded up 0.18% on Tuesday, reaching $11.32. 110,596 shares of the company’s stock traded hands. The company’s 50 day moving average is $11.79 and its 200-day moving average is $11.98. The stock has a market cap of $817.19 million, a price-to-earnings ratio of 6.17 and a beta of 1.29. iStar Financial Inc. has a 52-week low of $10.19 and a 52-week high of $12.83.
iStar Financial (NYSE:STAR) last announced its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $2.24 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.63). The company had revenue of $347.87 million during the quarter. iStar Financial had a return on equity of 22.21% and a net margin of 32.82%. Equities analysts expect that iStar Financial Inc. will post $3.09 EPS for the current year.
STAR has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 price target on shares of iStar Financial in a report on Thursday, August 31st. BidaskClub cut shares of iStar Financial from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine cut shares of iStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, TheStreet raised shares of iStar Financial from a “d+” rating to a “c” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.00.
In related news, major shareholder Istar Inc. acquired 7,840 shares of the stock in a transaction on Monday, July 24th. The shares were acquired at an average price of $19.48 per share, with a total value of $152,723.20. Following the completion of the transaction, the insider now owns 5,044,600 shares in the company, valued at approximately $98,268,808. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 738,702 shares of company stock worth $14,048,614. Insiders own 4.41% of the company’s stock.
iStar Financial 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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