MML Investors Services LLC Takes $92,000 Position in istar Inc (STAR)
MML Investors Services LLC purchased a new position in istar Inc (NYSE:STAR) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,067 shares of the real estate investment trust’s stock, valued at approximately $92,000.
Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in istar by 15.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 253,081 shares of the real estate investment trust’s stock worth $2,826,000 after buying an additional 33,812 shares during the period. Vanguard Group Inc grew its stake in shares of istar by 6.4% during the 3rd quarter. Vanguard Group Inc now owns 9,988,284 shares of the real estate investment trust’s stock worth $111,570,000 after purchasing an additional 603,017 shares during the period. Prudential Financial Inc. grew its stake in shares of istar by 73.7% during the 4th quarter. Prudential Financial Inc. now owns 524,734 shares of the real estate investment trust’s stock worth $4,812,000 after purchasing an additional 222,710 shares during the period. Rhumbline Advisers grew its stake in shares of istar by 19.1% during the 4th quarter. Rhumbline Advisers now owns 204,426 shares of the real estate investment trust’s stock worth $1,875,000 after purchasing an additional 32,835 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of istar by 34.6% during the 3rd quarter. AQR Capital Management LLC now owns 246,098 shares of the real estate investment trust’s stock worth $2,749,000 after purchasing an additional 63,260 shares during the period. Institutional investors own 92.16% of the company’s stock.
In other istar news, major shareholder Istar Inc. bought 1,604 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average price of $20.91 per share, for a total transaction of $33,539.64. Following the transaction, the insider now directly owns 7,764,652 shares of the company’s stock, valued at approximately $162,358,873.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 49,922 shares of company stock worth $1,025,922 in the last ninety days. Corporate insiders own 5.01% of the company’s stock.
Shares of NYSE STAR opened at $8.57 on Thursday. istar Inc has a 12 month low of $7.84 and a 12 month high of $11.44. The company has a debt-to-equity ratio of 3.41, a current ratio of 6.06 and a quick ratio of 6.06.
istar (NYSE:STAR) last issued its quarterly earnings data on Monday, February 25th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.22. istar had a negative net margin of 4.04% and a negative return on equity of 1.90%. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, research analysts forecast that istar Inc will post -0.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, March 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.20%. istar’s payout ratio is -37.89%.
iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and $40 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.
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