iStar Inc. is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on all types of properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the first publicly traded company to focus on modern ground leases, iStar is helping create a logical new approach to the way real estate is owned and continues to use its historic strengths in finance and net lease to expand this unique platform. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades.
Company profile
Ticker
STAR, STAR-PG, STAR-PI, STAR-PD
Exchange
Website
CEO
Jay Sugarman
Employees
Location
Fiscal year end
Industry (SIC)
Former names
ISTAR FINANCIAL INC, STARWOOD FINANCIAL INC
SEC CIK
Corporate docs
Subsidiaries
100 Elkhorn Road – Sun Valley LLC • 100 Riverview Condominium Association Inc. • 1000 South Clark Ground Owner LLC • 1000 South Clark Mezz Lender LLC • 1000 South Clark Street Holdings LLC • 1000 South Clark Street LLC • 1000 South Clark Street Partners LLC • 1101 Ocean Ave Parking LLC • 1101 Ocean Ave Venture LLC • 1111 Church Street Ground Owner LLC ...
IRS number
956881527
STAR stock data
Latest filings (excl ownership)
EFFECT
Notice of effectiveness
31 Jan 23
424B3
Prospectus supplement
30 Jan 23
425
Business combination disclosure
19 Dec 22
S-4
Registration of securities issued in business combination transactions
16 Dec 22
8-K
Other Events
30 Nov 22
425
Business combination disclosure
3 Nov 22
10-Q
2022 Q3
Quarterly report
3 Nov 22
8-K
Results of Operations and Financial Condition
3 Nov 22
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
25 Aug 22
Transcripts
STAR
Earnings call transcript
2022 Q3
3 Nov 22
STAR
Earnings call transcript
2022 Q2
4 Aug 22
STAR
Earnings call transcript
2022 Q1
3 May 22
STAR
Earnings call transcript
2021 Q4
24 Feb 22
STAR
Earnings call transcript
2021 Q3
2 Nov 21
STAR
Earnings call transcript
2021 Q2
3 Aug 21
STAR
Earnings call transcript
2021 Q1
30 Apr 21
STAR
Earnings call transcript
2020 Q4
23 Feb 21
STAR
Earnings call transcript
2020 Q3
3 Nov 20
STAR
Earnings call transcript
2020 Q2
8 Aug 20
Latest ownership filings
Financial summary
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| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 1.34 bn | 1.34 bn | 1.34 bn | 1.34 bn | 1.34 bn | 1.34 bn |
| Cash burn (monthly) | 21.58 mm | (no burn) | (no burn) | 13.12 mm | 4.00 mm | 17.75 k |
| Cash used (since last report) | 87.89 mm | n/a | n/a | 53.44 mm | 16.30 mm | 72.29 k |
| Cash remaining | 1.25 bn | n/a | n/a | 1.29 bn | 1.32 bn | 1.34 bn |
| Runway (months of cash) | 58.1 | n/a | n/a | 98.1 | 331.0 | 75550.7 |
Institutional ownership, Q3 2022
80.6% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 211 |
| Opened positions | 38 |
| Closed positions | 33 |
| Increased positions | 76 |
| Reduced positions | 66 |
| 13F shares | Current |
|---|---|
| Total value | 648.44 mm |
| Total shares | 69.99 mm |
| Total puts | 690.01 k |
| Total calls | 899.10 k |
| Total put/call ratio | 0.8 |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 14.79 mm | $136.99 mm |
| Vanguard | 13.25 mm | $122.71 mm |
| NewEdge Wealth | 4.47 mm | $41.37 mm |
| Verition Fund Management | 2.36 mm | $21.89 mm |
| MS Morgan Stanley | 2.21 mm | $20.50 mm |
| Nut Tree Capital Management | 2.00 mm | $18.52 mm |
| C Citigroup | 1.60 mm | $14.84 mm |
| FMR | 1.59 mm | $14.74 mm |
| Geode Capital Management | 1.55 mm | $14.40 mm |
| Aristotle Capital Boston | 1.53 mm | $14.12 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 20 Jan 23 | Brett Asnas | Common Stock | Payment of exercise | Dispose F | No | No | 0 | 9,189 | 0.00 | 42,944 |
| 20 Jan 23 | Brett Asnas | Common Stock | Grant | Acquire A | No | No | 0 | 20,346 | 0.00 | 42,944 |
| 20 Jan 23 | Alvarado Marcos | Common Stock | Payment of exercise | Dispose F | No | No | 0 | 7,571 | 0.00 | 73,133 |
| 20 Jan 23 | Alvarado Marcos | Common Stock | Grant | Acquire A | No | No | 0 | 16,523 | 0.00 | 73,133 |
| 20 Jan 23 | Garett Rosenblum | Common Stock | Payment of exercise | Dispose F | No | No | 0 | 2,763 | 0.00 | 38,813 |
| 20 Jan 23 | Garett Rosenblum | Common Stock | Grant | Acquire A | No | No | 0 | 6,609 | 0.00 | 38,813 |
| 19 Jan 23 | David Eisenberg | Common Stock | Grant | Acquire A | No | No | 0 | 4,053 | 0.00 | 43,053 |
| 29 Dec 22 | Jay Sugarman | Common Stock, [par vlaue $.001 per share | Gift | Acquire G | Yes | No | 0 | 60,000 | 0.00 | 413,917 |
| 29 Dec 22 | Jay Sugarman | Common Stock, par value $.001 per share | Gift | Dispose G | No | No | 0 | 60,000 | 0.00 | 2,352,027 |
| 28 Dec 22 | Jay Sugarman | Common Stock, par value $.001 per share | Gift | Acquire G | Yes | No | 0 | 319,250 | 0.00 | 413,917 |
News
Raymond James Downgrades iStar to Market Perform
31 Jan 23
iStar Announces Filing Of Form 10 Registration Statement For Planned Spin-Off Of Star Holdings
19 Dec 22
iStar REIT Drops Back to March 2020 Pandemic-Scare Levels
13 Dec 22
These 2 Small Cap Mortgage REITs Touting Huge Yields Are Trading Well Below Their Book Value
4 Dec 22
Stocks That Hit 52-Week Lows On Wednesday
30 Nov 22
Press releases
iStar Announces Tax Treatment of 2022 Dividends
12 Jan 23
SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates STAR, HZNP, COUP, USER
20 Dec 22
iStar Announces Filing of Form 10 Registration Statement for Planned Spin-Off of Star Holdings
19 Dec 22
iStar Announces Details for Its Special Dividend
29 Nov 22
iStar Announces Dividend Actions
21 Nov 22