Diamond Hill Capital Management Inc. reduced its position in shares of iStar Financial Inc. (NYSE:STAR) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,330,380 shares of the real estate investment trust’s stock after selling 172,581 shares during the period. Diamond Hill Capital Management Inc. owned approximately 10.17% of iStar Financial worth $88,258,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Affinity Investment Advisors LLC purchased a new position in shares of iStar Financial during the first quarter worth approximately $213,000. First Trust Advisors LP raised its position in shares of iStar Financial by 137.7% in the first quarter. First Trust Advisors LP now owns 144,413 shares of the real estate investment trust’s stock worth $1,704,000 after buying an additional 83,648 shares during the last quarter. IndexIQ Advisors LLC raised its position in shares of iStar Financial by 14.4% in the first quarter. IndexIQ Advisors LLC now owns 74,652 shares of the real estate investment trust’s stock worth $881,000 after buying an additional 9,372 shares during the last quarter. Real Estate Management Services LLC raised its position in shares of iStar Financial by 4.8% in the first quarter. Real Estate Management Services LLC now owns 2,313,500 shares of the real estate investment trust’s stock worth $27,299,000 after buying an additional 106,245 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of iStar Financial by 95.1% in 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 during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.
iStar Financial Inc. (NYSE STAR) opened at 11.94 on Friday. The firm has a market capitalization of $861.95 million, a price-to-earnings ratio of 6.50 and a beta of 1.29. The company has a 50 day moving average price of $11.98 and a 200-day moving average price of $11.97. iStar Financial Inc. has a 52 week low of $10.19 and a 52 week high of $12.83.
iStar Financial (NYSE:STAR) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $2.24 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by $0.63. The firm had revenue of $347.87 million for the quarter. iStar Financial had a return on equity of 22.21% and a net margin of 32.82%. Equities analysts predict that iStar Financial Inc. will post $3.14 earnings per share for the current year.
A number of brokerages recently commented on STAR. Keefe, Bruyette & Woods restated a “hold” rating on shares of iStar Financial in a research note on Friday, July 21st. ValuEngine upgraded iStar Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, BidaskClub lowered iStar Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
In other news, major shareholder Istar Inc. acquired 7,840 shares of iStar Financial stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average price of $19.48 per share, for a total transaction of $152,723.20. Following the transaction, the insider now directly owns 5,044,600 shares of the company’s stock, valued at approximately $98,268,808. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 547,018 shares of company stock worth $10,305,277 in the last 90 days. 4.76% of the stock is currently owned by corporate insiders.
iStar Financial 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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