istar Inc (STAR) Given Consensus Rating of “Hold” by Analysts

istar Inc (NYSE:STAR) has been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also assigned istar an industry rank of 179 out of 265 based on the ratings given to related companies.

A number of research analysts have commented on STAR shares. BidaskClub cut istar from a “sell” rating to a “strong sell” rating in a research note on Monday, October 23rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $14.00 price objective on shares of istar in a research report on Thursday, October 12th. TheStreet lowered istar from a “c” rating to a “d” rating in a research report on Friday, November 17th. Finally, ValuEngine raised istar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th.

istar (NYSE:STAR) traded down $0.05 during trading hours on Friday, reaching $11.18. The company’s stock had a trading volume of 539,900 shares, compared to its average volume of 414,767. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 4.76. istar has a one year low of $10.95 and a one year high of $12.68. The firm has a market capitalization of $888.18, a PE ratio of -21.09 and a beta of 1.26.

istar announced that its board has authorized a share repurchase program on Thursday, December 14th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In related news, Director Dale Ann Reiss sold 17,595 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $11.70, for a total value of $205,861.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Istar Inc. bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was acquired at an average cost of $17.87 per share, for a total transaction of $446,750.00. Following the acquisition, the insider now directly owns 6,806,956 shares of the company’s stock, valued at $121,640,303.72. The disclosure for this purchase can be found here. Insiders have bought 522,640 shares of company stock worth $6,898,614 in the last ninety days. Corporate insiders own 4.41% of the company’s stock.

Large investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC increased its holdings in istar by 15.6% in the second quarter. TIAA CREF Investment Management LLC now owns 225,944 shares of the real estate investment trust’s stock valued at $2,720,000 after buying an additional 30,434 shares during the last quarter. Wells Fargo & Company MN increased its holdings in istar by 237.1% in the second quarter. Wells Fargo & Company MN now owns 435,379 shares of the real estate investment trust’s stock valued at $5,242,000 after buying an additional 306,243 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in istar in the third quarter valued at $1,281,000. Private Management Group Inc. increased its holdings in istar by 332.3% in the third quarter. Private Management Group Inc. now owns 529,556 shares of the real estate investment trust’s stock valued at $6,249,000 after buying an additional 407,069 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in istar by 9.6% in the second quarter. Bank of New York Mellon Corp now owns 437,418 shares of the real estate investment trust’s stock valued at $5,267,000 after buying an additional 38,450 shares during the last quarter. 87.49% of the stock is currently owned by hedge funds and other institutional investors.

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istar 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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