IStar Financial (SFI +3.9%) management continues on its openness tour, presenting (materials) to...

|By:, SA News Editor

IStar Financial (SFI +3.9%) management continues on its openness tour, presenting (materials) to BTIG clients this week. Non-performing loans have been cut to $359M of carrying value from about $500M at the start of the year. NPLs generate very little in the way of GAAP income, says CEO Jay Sugarman, but they still have economic value, perhaps $25M at the low end should things stabilize.