Arizona State Retirement System Takes Position in istar Inc (NYSE:STAR)
Arizona State Retirement System bought a new stake in shares of istar Inc (NYSE:STAR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 98,597 shares of the real estate investment trust’s stock, valued at approximately $1,101,000. Arizona State Retirement System owned 0.15% of istar as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in istar in the second quarter worth $147,000. Swiss National Bank grew its stake in istar by 8.8% in the second quarter. Swiss National Bank now owns 122,300 shares of the real estate investment trust’s stock worth $1,320,000 after purchasing an additional 9,900 shares during the period. Orinda Asset Management LLC purchased a new stake in istar in the second quarter worth $836,000. Bank of Montreal Can grew its stake in istar by 156,666.0% in the third quarter. Bank of Montreal Can now owns 724,259 shares of the real estate investment trust’s stock worth $8,090,000 after purchasing an additional 723,797 shares during the period. Finally, Stevens Capital Management LP grew its stake in istar by 114.6% in the second quarter. Stevens Capital Management LP now owns 25,345 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 13,533 shares during the period. 92.94% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on STAR shares. Zacks Investment Research raised istar from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday, October 11th. ValuEngine raised istar from a “sell” rating to a “hold” rating in a research note on Friday.
istar (NYSE:STAR) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). istar had a return on equity of 11.04% and a net margin of 10.29%. The company had revenue of $122.14 million during the quarter, compared to the consensus estimate of $120.53 million. During the same period last year, the firm posted ($0.05) earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that istar Inc will post 0.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, November 14th. istar’s dividend payout ratio (DPR) is 15.58%.
In related news, Director Dale Anne Reiss bought 4,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were acquired at an average cost of $24.60 per share, with a total value of $98,400.00. Following the completion of the acquisition, the director now owns 52,519 shares of the company’s stock, valued at approximately $1,291,967.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Istar Inc. purchased 4,655 shares of the stock in a transaction dated Wednesday, November 28th. The shares were acquired at an average cost of $19.62 per share, for a total transaction of $91,331.10. Following the completion of the acquisition, the insider now owns 7,539,326 shares of the company’s stock, valued at $147,921,576.12. The disclosure for this purchase can be found here. Insiders acquired 52,652 shares of company stock worth $977,546 over the last three months. Corporate insiders own 5.01% of the company’s stock.
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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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