Teachers Advisors LLC reduced its stake in shares of iStar Financial Inc. (NYSE:STAR) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,112 shares of the real estate investment trust’s stock after selling 13,794 shares during the period. Teachers Advisors LLC owned about 0.17% of iStar Financial worth $1,535,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its stake in iStar Financial by 0.9% in the fourth quarter. State Street Corp now owns 1,423,894 shares of the real estate investment trust’s stock worth $17,611,000 after buying an additional 12,522 shares during the last quarter. Castle Ridge Investment Management LP increased its position in iStar Financial by 13.6% in the fourth quarter. Castle Ridge Investment Management LP now owns 959,177 shares of the real estate investment trust’s stock valued at $11,865,000 after buying an additional 114,981 shares during the period. Norges Bank purchased a new position in iStar Financial during the fourth quarter valued at $9,325,000. Kestrel Investment Management Corp purchased a new position in iStar Financial during the fourth quarter valued at $5,500,000. Finally, Two Sigma Investments LP purchased a new position in iStar Financial during the fourth quarter valued at $5,213,000. 83.12% of the stock is owned by institutional investors and hedge funds.
Shares of iStar Financial Inc. (NYSE STAR) opened at 12.35 on Tuesday. The company has a market capitalization of $890.50 million, a P/E ratio of 24.90 and a beta of 1.35. iStar Financial Inc. has a 52-week low of $8.74 and a 52-week high of $12.83. The firm has a 50-day moving average of $12.21 and a 200 day moving average of $12.04.
iStar Financial (NYSE:STAR) last issued its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.28. The company had revenue of $113.56 million for the quarter. iStar Financial had a return on equity of 10.26% and a net margin of 18.78%. On average, analysts anticipate that iStar Financial Inc. will post $3.14 EPS for the current year.
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A number of research analysts recently commented on STAR shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of iStar Financial in a research report on Friday, March 31st. JMP Securities began coverage on shares of iStar Financial in a research report on Wednesday, April 5th. They set a “market perform” rating on the stock. They noted that the move was a valuation call.
In other iStar Financial news, insider Nina Matis sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $12.30, for a total value of $492,000.00. Following the sale, the insider now owns 240,386 shares of the company’s stock, valued at approximately $2,956,747.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.76% of the company’s stock.
About iStar Financial
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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