Forward Management LLC held its stake in iStar Financial Inc. (NYSE:STAR) during the third quarter, Holdings Channel reports. The fund owned 39,000 shares of the company’s stock at the end of the third quarter. Forward Management LLC owned about 0.05% of iStar Financial worth $418,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in shares of iStar Financial by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 10,619 shares of the company’s stock valued at $102,000 after buying an additional 211 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of iStar Financial during the third quarter valued at $127,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of iStar Financial during the third quarter valued at $132,000. Mizuho Trust & Banking Co. Ltd. acquired a new stake in shares of iStar Financial during the third quarter valued at $198,000. Finally, Guggenheim Capital LLC boosted its stake in shares of iStar Financial by 38.7% in the second quarter. Guggenheim Capital LLC now owns 31,025 shares of the company’s stock valued at $297,000 after buying an additional 8,652 shares in the last quarter. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
iStar Financial Inc. (NYSE:STAR) traded up 0.40% during trading on Friday, reaching $12.67. 250,923 shares of the company traded hands. iStar Financial Inc. has a 12-month low of $7.59 and a 12-month high of $13.34. The firm’s 50 day moving average price is $11.28 and its 200 day moving average price is $10.50. The firm has a market capitalization of $901.80 million, a price-to-earnings ratio of 16.18 and a beta of 1.66.
iStar Financial (NYSE:STAR) last posted its earnings results on Thursday, November 3rd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.19. iStar Financial had a net margin of 22.55% and a return on equity of 17.13%. Equities research analysts expect that iStar Financial Inc. will post $0.84 earnings per share for the current year.
Separately, Keefe, Bruyette & Woods boosted their target price on shares of iStar Financial from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, August 5th.
In related news, Director Robin Josephs sold 12,100 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $12.45, for a total transaction of $150,645.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nina Matis sold 37,000 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $12.18, for a total transaction of $450,660.00. The disclosure for this sale can be found here. Insiders own 4.76% of the company’s stock.
iStar Financial Company Profile
iStar Inc, formerly iStar Financial Inc, finances, invests in and develops real estate and real estate related projects as part of its integrated investment platform. The Company’s business segments include 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.