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iStar Financial Inc.

5/21/2013, 1:12 AM ET

Quote & Headlines Market Currents StockTalk

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Wednesday, May 8, 9:56 AM iStar Financial (SFI +0.8%) more than doubles the size of its bond offering after getting sweet pricing and seeing big demand. BTIG's Mark Palmer reminds it was only last fall investors were questioning whether iStar would be able to meet its 2013 debt maturities, and now the B+ rated company is issuing 3-year paper with a 3.875% coupon. He continues with a Buy rating on the stock. Comment! [Financials]
Tuesday, May 7, 9:48 AM iStar Financial (SFI) launches an offering of $250M of unsecured 3-year notes, with $97M of the net proceeds slated to pay off 8.625% paper maturing this June and 5.95% paper maturing in October. Shares in the commercial real estate turnaround continue to advance, +48% YTD. (PR) Comment! [Financials]
Tuesday, April 30, 12:41 PM iStar Financial (SFI +0.3%) recovers from an early loss following its earnings miss as the company made fast progress on its pledge cut 40% from its NPL loan balance this year, reducing it by 30% just in Q1. The company reduced its leverage to 2.1x from 2.5x on Dec. 31 and cut its average cost of debt to 6.2% from 6.5%. More good balance sheet news: Cash rises to $468.4M from $256.3M. (PR) Comment! [Financials]
Tuesday, April 30, 8:04 AM iStar Financial (SFI): Q1 EPS of -$0.49 misses by $0.05. Revenue of $94.5M (off 6.4% Y/Y) inline. (PR) Comment! [Earnings, Financials, Breaking News]
Monday, April 29, 1:34 PM iStar Financial's (SFI) had a big run, writes BTIG's Mark Palmer (who's been bullish), but he's got questions he'd like answered in the Q1 report tomorrow. How much of the $200M recently raised has been put to work generating new business? What are management's plans with regard to cutting debt or otherwise lowering funding costs? Is the company making progress on promises to move about 40% of $503M in non-performing loans into the performing category? Comment! [Financials, Quick Ideas]
Monday, April 22, 9:31 AM iStar Financial (SFI) closes the sale of its 24% stake in LNR Property to Starwood for $220M in net proceeds. iStar plans to invest the funds back into its commercial loan origination business (PR) Comment! [Financials]
Wednesday, April 3, 9:49 AM NorthStar Realty Finance (NRF) commences an offering of new Series D preferred stock. The commercial real estate company is one of a number in the sector having big runs. Northstar, along with iStar Financial (SFI), are the more aggressive players, says SA author Joe X, and can be expected to outperform when the going is good. Comment! [Financials]
Tuesday, February 12, 2:23 PM CMBS appears to be the asset du jour for the hedge fund crowd, getting a mention as a favored spot from Boaz Weinstein, Tom Kempner, and Jamie Dinan at a recent conference. Formally just a residential player, Annaly (NLY) is buyer with its proposed acquisition of CreXus (CXS). Among stocks benefitting from better commercial real estate performance: WD, ARI, SFI, GKK. Others? 1 Comment [Financials]
Thursday, January 24, 11:59 AM More stirrings in commercial real estate where Gramercy Capital (GKK +1.8%) buys 2 industrial properties in the Indianapolis area for $27.1M, or about $50/sq. ft. Earlier, Starwood Property Trust (STWD +4.8%) made a bet on distressed commercial property. SFI +3.4%. 3 Comments [Financials]
Thursday, January 24, 8:53 AM "(Commercial property) values are increasing but they're not running away," says Starwood (STWD) CEO Barry Sternlicht in an interview about the LNR purchase. He notes money is beginning to move out of fixed income into real property. This isn't news for major city centers, but Sternlicht says it's beginning to spill into "secondary cities." Comment! [Financials, U.S. Economy]
Tuesday, August 9, 2011, 11:20 AM iStar Financial (SFI +22.6%) rises with the rest of the financials on renewed optimism for more stimulus from the Fed this afternoon, plus an added boost from its announcement late yesterday of a new $65M stock repurchase program. 1 Comment [Financials, On the Move]
Friday, December 31, 2010, 5:45 PM Best performing stocks of 2010: FNSR +234.7%, NCT +222%, NFLX +219.9%, SFI +206.4%, LVS +205.5%. Worst performing stocks of 2010: FTBK -97.1%, UCBH -84.8%, FBP -79.8%, WL -64.7%, HTCH -63.2%. (top 10 best/worst) Comment!
Monday, November 15, 2010, 6:09 PM More in stake reporting: Berkshire Hathaway (BRK.A) gets 2M shares of BNY Mellon (BK), adds some Wells Fargo (WFC) and gets out of Home Depot (HD); Paulson & Co. trims its BofA (BAC) and Citigroup (C) but holds GLD; Icahn into Mattel (MAT) and out of Yahoo (YHOO) and Wendy's/Arby's (WEN); Blackstone (BX) takes big positions in iStar Financial (SFI) and Eastman Kodak (EK). Comment!
Tuesday, September 21, 2010, 2:08 PM Shares of iStar Financial (SFI -14.5%) plummet on a Bloomberg report that the commercial real estate lender is weighing a bankruptcy filing. The company expects to begin meeting with creditors in coming weeks to discuss potential terms of a pre-packaged bankruptcy, which would occur sometime next year. 1 Comment
Thursday, April 29, 2010, 9:10 AM Premarket gainers: ATSI +53%. PALM +25%. RAS +18%. BIDU +15%. AXTI +13%. AKAM +11%. NENG +10%. FSLR +9%. SFI +9%. ORLY +8%. NBG +8%. MOT +8%. HURN +7%. JASO +6%. YRCW +6%. NVAX +5%. CELG +5%. DDSS +5%. NIHD +5%. AIB +5%. AVNR +5%. SOLF +4%. BMY +4%. IRE +4%. UN +4%. REP +4%.
Losers: OPWV -18%. GMCR -10%. POWI -9%. ETFC -7%. EK -6%. VNDA -6%. ASMI -5%. Comment!
Thursday, October 30, 2008, 12:05 AM Notable earnings before Thursday's open: ABC, ABX, AIZ, ALU, AVP, AZN, BJS, BLL, CAM, CBB, CBS, CI, CL, CLI, CMC, CMS, CVS, D, EK, ENDP, EXPE, FAF, GLBL, IAR, ICE, IGT, IP, IRM, JAH, LEA, LKQX, MOT, MPS, MRO, MYL, NRG, NWL, OCR, PAG, PDE, PNX, PTEN, RDS.A, SCG, SFI, SGR, SPIL, TE, UIS, VC, WMI, WYN, XOM Comment!