6 Meridian Purchases 23,266 Shares of istar Inc (NYSE:STAR)

6 Meridian increased its position in shares of istar Inc (NYSE:STAR) by 44.7% during the third quarter, HoldingsChannel.com reports. The firm owned 75,294 shares of the real estate investment trust’s stock after buying an additional 23,266 shares during the period. 6 Meridian’s holdings in istar were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gradient Investments LLC bought a new stake in istar in the third quarter valued at $29,000. Public Employees Retirement System of Ohio grew its position in istar by 94.0% in the second quarter. Public Employees Retirement System of Ohio now owns 3,270 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 1,584 shares during the period. Versant Capital Management Inc grew its position in istar by 3,459.8% in the second quarter. Versant Capital Management Inc now owns 3,631 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 3,529 shares during the period. Bank of Montreal Can grew its position in istar by 870.1% in the second quarter. Bank of Montreal Can now owns 5,743 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 5,151 shares during the period. Finally, Anderson Fisher LLC bought a new stake in istar in the second quarter valued at $82,000. Institutional investors and hedge funds own 90.31% of the company’s stock.

Shares of STAR stock opened at $12.94 on Thursday. The stock’s fifty day moving average is $12.90 and its 200-day moving average is $11.62. The company has a debt-to-equity ratio of 2.35, a quick ratio of 3.59 and a current ratio of 3.59. The stock has a market capitalization of $800.70 million, a PE ratio of -13.62 and a beta of 0.67. istar Inc has a 52 week low of $7.84 and a 52 week high of $13.75.

istar (NYSE:STAR) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $4.55 EPS for the quarter, topping the consensus estimate of ($0.30) by $4.85. The company had revenue of $98.47 million for the quarter, compared to analysts’ expectations of $97.50 million. istar had a return on equity of 22.16% and a net margin of 52.01%. During the same quarter in the prior year, the business earned $0.55 earnings per share. As a group, analysts forecast that istar Inc will post 3.89 earnings per share for the current fiscal year.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded istar from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Tuesday, October 8th. TheStreet upgraded istar from a “d+” rating to a “c” rating in a report on Thursday, August 1st. Raymond James increased their target price on istar from $12.50 to $17.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, ValuEngine cut istar from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.50.

In other istar news, major shareholder Istar Inc. bought 5,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were bought at an average price of $33.21 per share, for a total transaction of $166,050.00. Following the completion of the acquisition, the insider now owns 20,675,154 shares of the company’s stock, valued at $686,621,864.34. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marcos Alvarado bought 10,077 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $12.95 per share, for a total transaction of $130,497.15. Following the acquisition, the insider now directly owns 12,577 shares of the company’s stock, valued at approximately $162,872.15. The disclosure for this purchase can be found here. Insiders have bought 320,669 shares of company stock worth $8,921,247 in the last 90 days. Company insiders own 5.24% of the company’s stock.

istar Company Profile

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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Institutional Ownership by Quarter for istar (NYSE:STAR)

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