ValuEngine upgraded shares of istar (NYSE:STAR) from a hold rating to a buy rating in a report released on Friday.

STAR has been the subject of several other research reports. BidaskClub downgraded shares of istar from a sell rating to a strong sell rating in a research note on Monday, October 23rd. Keefe, Bruyette & Woods reiterated a hold rating and set a $14.00 target price on shares of istar in a research note on Thursday, October 12th. Finally, TheStreet upgraded shares of istar 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, two have assigned a hold rating and one has assigned a buy rating to the company. istar presently has a consensus rating of Hold and a consensus price target of $14.00.

Shares of istar (NYSE STAR) opened at $11.51 on Friday. istar has a 12 month low of $10.95 and a 12 month high of $12.74. The firm has a market cap of $784.98, a PE ratio of 6.12 and a beta of 1.26. The company has a current ratio of 6.50, a quick ratio of 6.50 and a debt-to-equity ratio of 4.76.

istar declared that its board has initiated a stock repurchase program on Thursday, December 14th that permits the company to buyback 50,000,000 shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, major shareholder Istar Inc. bought 17,749 shares of the company’s stock in a transaction on Friday, December 15th. The stock was bought at an average cost of $18.01 per share, with a total value of $319,659.49. Following the completion of the acquisition, the insider now owns 6,647,906 shares in the company, valued at approximately $119,728,787.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Gaden Western Wood bought 139,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was bought at an average cost of $0.28 per share, with a total value of $38,920.00. Insiders have purchased 653,940 shares of company stock valued at $5,508,357 over the last three months. 4.41% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of STAR. Teachers Advisors LLC increased its holdings in istar by 10.9% in the first quarter. Teachers Advisors LLC now owns 137,632 shares of the real estate investment trust’s stock valued at $1,624,000 after buying an additional 13,520 shares in the last quarter. Bank of Montreal Can increased its stake in shares of istar by 115.4% during the 2nd quarter. Bank of Montreal Can now owns 112,000 shares of the real estate investment trust’s stock worth $1,348,000 after purchasing an additional 60,000 shares in the last quarter. Aperio Group LLC increased its stake in shares of istar by 22.3% during the 2nd quarter. Aperio Group LLC now owns 51,086 shares of the real estate investment trust’s stock worth $615,000 after purchasing an additional 9,322 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of istar by 11.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 52,469 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 5,380 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of istar by 57.4% during the 2nd quarter. Sei Investments Co. now owns 14,196 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 5,179 shares in the last quarter. 87.49% of the stock is owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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