iStar Financial Inc. (STAR) Position Trimmed by Prudential Financial Inc.
Prudential Financial Inc. decreased its position in shares of iStar Financial Inc. (NYSE:STAR) by 52.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,624 shares of the real estate investment trust’s stock after selling 115,210 shares during the quarter. Prudential Financial Inc. owned 0.14% of iStar Financial worth $1,236,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in iStar Financial by 95.1% during the first quarter. Russell Investments Group Ltd. now owns 47,089 shares of the real estate investment trust’s stock worth $556,000 after buying an additional 22,951 shares in the last quarter. First Trust Advisors LP increased its holdings in iStar Financial by 137.7% in the 1st quarter. First Trust Advisors LP now owns 144,413 shares of the real estate investment trust’s stock valued at $1,704,000 after buying an additional 83,648 shares during the period. Karp Capital Management Corp bought a new position in iStar Financial in the 1st quarter valued at about $493,000. Sei Investments Co. increased its holdings in 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 buying an additional 2,749 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in iStar Financial by 8.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 185,734 shares of the real estate investment trust’s stock valued at $2,192,000 after buying an additional 14,857 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on STAR shares. Keefe, Bruyette & Woods restated a “hold” rating on shares of iStar Financial in a research report on Friday, July 21st. ValuEngine upgraded shares of iStar Financial from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. BidaskClub lowered shares of iStar Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Finally, TheStreet raised shares of iStar Financial from a “d+” rating to a “c” rating in a research note on Wednesday, August 23rd. One 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 a consensus rating of “Hold” and an average price target of $14.00.
Shares of iStar Financial Inc. (NYSE STAR) opened at 12.05 on Wednesday. The firm has a 50 day moving average price of $11.66 and a 200-day moving average price of $11.95. The firm has a market cap of $869.89 million, a P/E ratio of 6.56 and a beta of 1.25. iStar Financial Inc. has a one year low of $10.45 and a one year high of $12.83.
iStar Financial (NYSE:STAR) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.63). iStar Financial had a return on equity of 22.21% and a net margin of 32.82%. The firm had revenue of $347.87 million during the quarter. Analysts forecast that iStar Financial Inc. will post $3.11 earnings per share for the current year.
In other news, major shareholder Istar Inc. acquired 11,760 shares of iStar Financial stock in a transaction that occurred on Tuesday, July 25th. The stock was bought at an average price of $19.10 per share, with a total value of $224,616.00. Following the completion of the purchase, the insider now owns 5,044,600 shares in the company, valued at $96,351,860. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 819,104 shares of company stock valued at $15,596,005 over the last 90 days. 4.41% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding STAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iStar Financial Inc. (NYSE:STAR).
Receive News & Ratings for iStar Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iStar Financial Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.