iStar Financial Incorporated (SFI)

[mlkrborn]

iStar Financial announces ownership group to sell LNR property LLC for $1.05 bln (SFI) 8.72 : Co announced today that the owners of LNR Property LLC, including iStar, have signed a definitive agreement to sell LNR for a total purchase price of $1.05 billion. iStar's 24% ownership interest in LNR is expected to generate $220 million in net proceeds at closing after closing costs and LNR management incentives. The transaction is expected to close during Q2 of 2013, subject to customary closing conditions. Lazard is serving as financial advisor to iStar and the other sellers in connection with this transaction.

[Penny Roger$]

~ Monday! $SFI ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $SFI ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=SFI&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=SFI&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=SFI
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=SFI#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=SFI+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=SFI
Finviz: http://finviz.com/quote.ashx?t=SFI
~ BusyStock: http://busystock.com/i.php?s=SFI&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=SFI >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[stock-up]

http://www.fool.com/investing/general/2011/08/12/7-perfectly-timed-buybacks.aspx

[stock-up]

NEW YORK, Aug. 8, 2011 /PRNewswire/ -- iStar Financial Inc. (NYSE:SFI - News) announced today that its Board of Directors approved a new stock repurchase program. The program authorizes the Company to repurchase up to $65 million of its common stock from time-to-time in the open market and privately negotiated transactions. The Company intends to enter into a 10b5-1 trading plan through which it may make purchases of its common stock.

The Company's prior stock repurchase program, which had remaining authorization for $12.6 million of buy backs as of June 30, 2011, has been substantially completed.

[stock-up]

time to revive the board, SFI looking fairly good with news out of large share buyback

[mlkrborn]

SFI. $4.60...

[Stock]

IStar Said to Get Commitments for $3 Billion Loan to Avoid Restructuring

By Jonathan Keehner and Krista Giovacco - Mar 10, 2011 3:29 PM CT

IStar Financial Inc. (SFI), the commercial real-estate lender that’s extending debt maturities to avoid restructuring, has received commitments from lenders for a $3 billion loan, according to three people with knowledge of the situation.

The company, which increased rates on $1.5 billion of the loan earlier today, will issue portions of it as soon as Friday and anticipates funding on March 15, said the people, who declined to be named because the deal is private. Proceeds will be used to repay secured loans maturing in June 2011 and 2012 and a portion of the company’s unsecured debt maturing this year.

Chief Executive Officer Jay Sugarman is taking advantage of loan prices approaching a three-year high as the New York-based company deals with $2.7 billion of debt scheduled to mature this year. Shares of IStar, which has funded properties including the Trump SoHo hotel-condominium building in lower Manhattan, have risen 8.5 percent since the company announced on Feb. 22 that it engaged JPMorgan Chase & Co. to arrange the $3 billion facility.

“The completion of the proposed $3 billion bank refinancing transaction would be a major milestone for the company,” said Michael Kim, an analyst at CRT Capital Group in Stamford, Connecticut. “It would address the near-term maturity profile and remove the risk of a restructuring.”

Jason Fooks, a representative for IStar, declined to comment.

Commitment Deadline

JPMorgan had given lenders until 5 p.m. today in New York to let the bank know if they were participating in the deal, the people said. The $3 billion facility will refinance about $380 million of senior unsecured bank debt due 2011 and $2.6 billion of secured bank debt due 2011 and 2012, according to CRT’s Kim.

A $1.5 billion A-2 debt due June 2014 will pay 5.5 percentage points more than the London interbank offered rate, compared with 4.75 percentage points initially proposed, said the people who declined to be identified because the terms are private. The floor on the lending benchmark remains at 1.25 percent, and the company will sell the loan at 98.5 cents on the dollar, as initially proposed, the people said.

Lenders will get 18 months of soft-call protection, the person said, meaning that IStar would have to pay 1 cent more than face value for the first year to reprice the debt, then 0.5 cent more than face value to cut pricing on the loan in the next six months.

A $1.5 billion A-1 loan due in June 2013 will pay 3.25 percentage points more than Libor with a 1.25 percent floor, the people said. That debt will be sold at 99.5 cents on the dollar.

Loan Prices

The Standard & Poor’s/LSTA U.S. Leveraged Loan 100 Index, which tracks the 100 largest dollar-denominated first-lien leveraged loans climbed to 96.48 cents on the dollar on Feb. 14, which was the highest since November 2007. The measure has declined since then and dropped to 95.75 cents yesterday.

“All three rating agencies issued reports noting that the successful completion of the proposed facilities would prompt multiple notch upgrades across the capital structure and at the corporate level,” CRT’s Kim said.

To contact the reporter on this story: Jonathan Keehner in New York at [e-mail].; Krista Giovacco in New York at [e-mail]

To contact the editor responsible for this story: David Scheer at [e-mail]; Faris Khan at [e-mail]

[Trader0327]

Looks like the shorts finally giving up.

[Estrella]

SFI @ $8.00!

[Stock]

What a move. Wow.

[Trader0327]

I would be scalping SFI if the range were just a couple more pennies. Let's see what next week brings.

[Trader0327]

SFI might use bk or might not. It will not be necessary until June 2011. Plenty of cash to pay bills until then. Alot can change in eight months.

Quarterly earnings report and conference call should be very interesting.

[DAZER LASER MAN]

ONE WORD BANKRUPTCY... GET OUT BEFORE COMMON GOES TO ZERO.

[mlkrborn]

SFI $3.00

[Trader0327]

SFI. Sure not acting like stock of a bankrupt company. Moving back up today.

[mlkrborn]

SFI pre-packeged BK or bluffing?
U.S. Equities
Tuesday's Big Losers: IStar Financial, AMAG Pharma
MarketNewsVideo.com , 09.21.10, 06:20 PM EDT
According to Bloomberg, iStar Financial might be looking at a pre-packaged bankruptcy.

iStar Financial Inc.
09/21/2010 4:00PM ET

* $3.48
* -$0.53
* -13.22%


According to Bloomberg, iStar Financial might be looking at a pre-packaged bankruptcy.

Shares of iStar are down 21.9%

[Trader0327]

Pre-packaged Chapter 11. The company will continue stronger. The shareholders may be toast.

[xox2010]

Bankruptcy Imminent


Insiders are getting out ... This dog is toast....

[Trader0327]

Yikes, SFI took a dive today. Talk of chapter 11 bankruptcy.

[Trader0327]

SFI @ 3.73 Nice pop off the low this morning of $3.45

[mlkrborn]

Trader; yep! wrong phrase.. highly leveraged field to begin with.. Loan repayment rescheduling is common..
tia

[Trader0327]

Not so sure it is "too much" loan to restructure. There are enough assets to secure the debt and the banks hardly want any more real estate on their books so doubt they want iStar to fail. They can't foreclose as iStar has yet to miss any payments. Kick the maturities farther down the lane and they collect more interest. If it fails in the end banks still get the security. No worse condition than where they are now.

This is why iStar hired Lazard last quarter. Lazard has the connections to get this deal done.

[mlkrborn]

YEP; UNDER PRESURE! $3.60.. Too much loan to restructure! Will look into GKK's debt burden..

[Trader0327]

SFI surely beat down here, but hope is on the horizon. Refinance in the works?

By Jacqueline Poh
NEW YORK, Aug 23 (RLPC) - Commercial real estate lender iStar Financial is asking to extend its second lien term loans due 2011 and 2012 and is offering higher spreads on the extended loans, sources told Thomson Reuters LPC.
The company is amending its first and second lien loans under a restructuring proposal that is advised by Lazard.
In a presentation to lenders, the company said it is "facing significant debt maturities," and wants to work with them to extend $2.6 billion of second priority loans, which would consist of a $1.7 billion second priority loan due June 2011 and a $0.9 billion second priority loan due 2012.
The 2011 loan is proposed to be extended to June 2014 with a spread of 300 basis points (bps) over LIBOR, increased from the existing 150 bps over LIBOR. The 2012 loan is being extended to June 2015 with a spread of 350 bps over LIBOR, increased from the existing 200 bps over LIBOR.
iStar is also asking to repurchase its second lien loans at a discount of not less than 10 percent of the aggregate principal amount repurchased.
Meanwhile, the company is planning to make a $500 million paydown on its first lien loan due June 2012. The remaining $500 million first lien loan will maintain the same maturity and pricing of 250 bps over LIBOR.
No amendment fee is offered. The company's unsecured lenders are not notified of the amendment; only the first and second lien lenders are involved.
Last month, the company was reported to be mulling a restructuring or refinancing of its roughly $3 billion of debt due next year. A source familiar with the matter said, "The company will need 100 percent consent from existing lenders to make any changes to existing credit agreement to accommodate the debt restructuring or refinancing."
According to LPC data, iStar amended its credit facility in March 2009 to extend $1.695 billion of syndicated loans to June 2011 and add a new $1 billion term loan due June 2012. JP Morgan, Bank of America Merrill Lynch and Citi are leads on the deal.
Meanwhile, sources pointed out that the company has an additional $2 billion of debt due 2012 in addition to a $500 million paydown needed this September, and some sizable bond maturities over the next two years.
(Reporting by Jacqueline Poh) Keywords: ISTAR/LOAN


http://www.londonstockexchange.com/exchange/prices-and-news/news/market-news/market-news-detail.html?announcementId=10622305

[Trader0327]

So are we gonna finally start another uptrend?

[mlkrborn]

SFI 3.81

[Trader0327]

Aug 3 (Reuters) - iStar Financial Inc <SFI.N>: * Says acquired an approximate 24 pct ownership interest in Lnr Property
Corp - SEC filing * Its share of consideration paid was $100 million in cash and $100 million
aggregate principal amount of Holdco notes * Says its loan was paid down from an original principal balance of $102.0
million to $50.8 million

[Trader0327]

Closed yesterday at $4.45

Filed SEC report about LNR Property.

http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001104659-10-041505

trade

[Trader0327]

SFI - Earnings call transcript.

http://seekingalpha.com/article/218278-istar-financial-inc-q2-2010-earnings-call-transcript?source=yahoo

trade

[Trader0327]

SFI $4.49 -0.73 eom

[Trader0327]

Looks to have settled in the $4.75 area since conference call.

-0.46 from yesterday close.

What will afternoon bring?

GLTY,
trade

[Trader0327]

UPDATE 2-iStar posts wider-than-expected Q2 loss; shares fall

Digg This Tweet ThisShare on LinkedIn Share on FacebookStocks
iStar Financial Inc.
SFI.N
$4.72
-0.50-9.58%9:09am EDT
Tue Aug 3, 2010 10:47am EDT

* Q2 adj loss/shr $0.89 vs loss/shr $0.30

* Gain from sale of CTL portfolio $250.3 mln

* Net investment income down 53 pct

* Loan-loss provision $109.4 mln vs $435 mln

* Shares down 16 pct (Recasts; adds details, share movement)

Aug 3 (Reuters) - U.S. commercial real estate lender iStar Financial Inc (SFI.N) posted a wider-than-expected adjusted second-quarter loss, hurt by a drop in interest income, sending its shares down 16 percent. For the second quarter, net income allocable to common shareholders was $212.3 million, or $2.27 a share, compared with a year-ago loss of $284.2 million, or $2.85 a share.

Excluding the $250.3 million gain on the sale of a corporate tenant lease (CTL) portfolio sale, the company posted a loss of 89 cents a share.

Analysts on average were expecting iStar to post a loss of 30 cents a share, excluding items, according to Thomson Reuters I/B/E/S.

Quarterly revenue fell more than 29 percent to $136.8 million, hurt mainly by a drop in interest income as performing loans moved to non-performing status.

Interest income fell 39 percent to $86.5 million.

Net investment income more than halved to $129.8 million.

Provision for loan losses fell to $109.4 million from $435 million.

As of June 30, the company had $531.5 million of cash, compared with $640.9 million in the first quarter.

The company completed the sale of a portfolio of 32 CTL properties for $1.33 billion, it said.

Shares of the company were down 13 percent at $4.54 in morning trade Tuesday on the New York Stock Exchange. They touched a low of $4.41 in early trade. (Reporting by Archana Shankar in Bangalore; Editing by Don Sebastian, Unnikrishnan Nair)

http://www.reuters.com/article/idCNSGE6720IJ20100803?rpc=44

GLTY,
trade

[Trader0327]

I listened to conference call. Not as bad as shorts would have us believe. Management is working very hard to get through this difficult time. No defaults on SFI's part and it looks better each quarter.

Today's low was $4.41 during the conference call. Bounced back some since then. Expect more recovery once investors take a deeper lookin into the financials.

GLTY,
trade

[mlkrborn]

SFI 4.20s ;Down 080 cents on reporting: One time gain helped it to swing to profitability.. i guess short pricks trying to take an advantage of it!
GLLs!

[Trader0327]

$4.98 close today. Was just $4 a couple days ago. Where is everybody?


trade

[Trader0327]

Big short interest. Will it help the momentum or hurt?

Istar Financial Incorporated $ 4.11 SFI 0.16

Short Interest (Shares Short) 24,375,100
Days To Cover (Short Interest Ratio) 11.9
Short Percent of Float 27.10 %
Short Interest - Prior 25,964,500
Short % Increase / Decrease -6.12 %
Short Squeeze Ranking™ 146

http://www.shortsqueeze.com/?symbol=sfi


GLTY,
trade

[Trader0327]

Closed above the 20dma today. Looking good for next week.

Link to chart:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52541562

GLTY,
trade

[Trader0327]

Looks like about $4. (close to the 200dma) was our bottom.

Shorts are big time into this one and imo at least some will exit before the earnings report due August 3rd.

Market volatility continues and not sure what to expect from tomorrows European stress tests, but overall next week should be profitable.

GLTY,
trade

[Trader0327]

SFI lod $4.24

I sold a bunch on the way down. Took a big hit. Starting to buy again at this level. Pretty sure it will run into earnings end of month.

GLTY,
trade

[Trader0327]

Hope you are doing better than SFI today.

Down again, but not quite as fast.

Made the list of top ten losers by percent yesterday.

GLTY,
trade

[Trader0327]

SFI $4.90 Yikes!

[Trader0327]

iStar Financial Announces Completion of Corporate Tenant Lease Portfolio Sale
Company expects to recognize approximately $250 million gain associated with transaction


http://finance.yahoo.com/news/iStar-Financial-Announces-prnews-4142051661.html?x=0&.v=1



GLTY,
trade

[Trader0327]

I added here at 5.29 looking for a bounce on CTL sale news or earnings. Could dip closer to $5 if the wider market continues red.

trade

[Estrella]

SFI Chart:


Agree Trader, chart looks great!
GLTU!

Estrella

[Trader0327]

Looks like we finally made a bottom around $5.00 Can we get another trip to $7.50 before earnings report?

GLTY
trade

[Trader0327]

Added some $5.74 this morning. Looking for a bottom. CTL sale news would be nice. Maybe some of the shorts would leave.

trade

[Trader0327]

SFI @ $7.82 another 52 week high.

trade

[Trader0327]

So many shorts on this one when it gets some momo the shorts just pile on harder. Hoping to really "burn" them someday in the future.

trade

[Trader0327]

Think the gains would have held up better if the market was not so red. Dow -250 but SFI is green.

trade

[Estrella]

SFI last Filing:
From: May 4, 2010
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7224558

On May 3, 2010, several subsidiaries of iStar Financial Inc. (the “Sellers”) entered into two Purchase and Sale Agreements (the “Purchase Agreements”) with TRT Acquisitions LLC (the “Buyer”), a subsidiary of Dividend Capital Total Realty Trust, Inc., under which the Sellers have agreed to sell, and the Buyer has agreed to purchase, a portfolio of 33 real properties, or interests therein, on the terms and subject to the conditions set forth in the Purchase Agreements. The properties being sold are leased to third party corporate tenants, primarily on a triple net lease basis. The aggregate purchase price of the properties is $1,402,500,000.00 in cash, adjusted for closing costs and customary prorations of taxes, operating expenses, leasing costs and other items.



The Buyer has made an initial earnest money deposit in respect of the transactions, but the Buyer’s obligations to complete the transaction remain subject to completion of due diligence and obtaining sufficient financing. The parties’ obligations to complete the transaction also remain subject to customary closing conditions. If requested by the Buyer, iStar Financial Inc. will provide the Buyer with up to $125 million in mezzanine financing after the Buyer has obtained a commitment for senior financing.



iStar Financial Inc. currently expects that the closing of the transactions will occur in the second quarter of 2010; however, closing is subject to a number of conditions, as described above, and there can be no assurance that the transactions will be consummated on the terms described above or at all.