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Wow, I really did not expect to hear news about the CTL sale for another couple weeks.
GLTY,
trade
SFI @ $7.75!
Blue sky!!!!! Looking great!!!! LOL
Just had to say it.
trade
SFI @ $7.03!
SFI @ 6.96
I was thinking $7 by the end of 2010. Now $10 by the end of year seems possible.
trade
SFI @ $6.88!
Listened in on the conference call. Outlook sounds good. IMO: Not much risk in 2010, but there is still some question about 2011. 2011 risks seems to get smaller each quarter.
Have a great afternoon.
trade
Still has a big short interest. April 15 data below.
iStar Financial Inc. $ 6.52 SFI +0.82
Short Interest (Shares Short) 23,932,600
Days To Cover (Short Interest Ratio) 8.2
Short Percent of Float 25.28 %
Short Interest - Prior 21,571,800
Short % Increase / Decrease 10.94 %
Short Squeeze Ranking™ 118
http://www.shortsqueeze.com/?symbol=sfi
GLTY,
trade
UPDATE 2-IStar posts narrower-than-expected Q1 loss, shares up
Thu Apr 29, 2010 11:12am EDTStocks
iStar Financial Inc.
SFI.N
$6.54
+0.84+14.74%10:20am EDT
* Q1 loss/shr $0.26 vs est loss/shr $1.48
* Loan-loss provision $89.5 mln vs $258 mln a year ago
* Says direction of loan loss provisions unclear * Shares up more than 15 pct
April 29 (Reuters) - U.S. commercial real estate lender iStar Financial Inc (SFI.N) reported a much narrower-than-expected first-quarter loss, helped by a drop in loan loss provision, sending its shares up about 17 percent.
The company, however, is unclear about the direction of loan loss provisions in the coming quarters, it said on a conference call with analysts. Net loss allocable to common shareholders was $25.4 million, or $0.27 a share, for the quarter, compared with a year-ago loss of $93.9 million, or $0.89 cents a share.
Excluding certain items, the loss was $0.26 a share. Analysts were expecting iStar to post a loss of $1.48 a share, excluding items, according to Thomson Reuters I/B/E/S.
Quarterly revenue fell more than 23 percent to $173.5 million.
"The year-over-year decrease is primarily due to a reduction of interest income resulting from an increase in non-performing loans and an overall smaller asset base," the company said in a statement.
The company saw its net investment income for the quarter plunge to around half the year-ago level at $119.2 million.
Provision for loan losses stood at $89.5 million from $216.4 million sequentially.
The credit crisis has forced lenders such as iStar to take provisions for possible loan defaults and write down the value of some of their loans.
At the end of the quarter, 72 of iStar's 212 loans were on a non-performing loan status, which represented $3.5 billion or 42.3 percent of its managed loans.
The company said it had $640.9 million of unrestricted cash compared with $224.6 million at the end of the prior quarter.
iStar said it is currently in compliance with all of its bank and bond covenants.
Shares of the company were trading up 15 percent at $6.58 in morning trade. They touched a high of $6.65 in early trade Thursday on the New York Stock Exchange. (Reporting by Archana Shankar in Bangalore; Editing by Roshni Menon)
Nice earnings. Hod $6.65 so far. Think it goes higher?
trade
Almost a million shares went through at around noon for $5.65
Half of todays volume. Looks like some support has been established.
Earnings tomorrow before the open.
GLTY,
trade
Been looking for a pullback since $4.92
Beginning to think we won't see $5. again.
trade
SFI @ $6.53!
SFI @ $6.15!
SFI hod at $5.90 back to $5.68 now. Can't believe we continue up on the daily chart without more of a pullback. Expecting it anytime.
trade
SFI @ $5.75!
$5.64 high intraday. I expect them to try to push this back below $5 before next Friday unless some of the call option contracts are closed by Monday.
GLTY,
trade
SFI @ $5.50!
Monster today. SFI $5.42 intraday.
trade
NEWS:
Monday, March 22, 2010, 1:22pm EDT | Modified: Monday, March 22, 2010, 1:27pm
Monument Realty, lenders sell Palatine building at auctionWashington Business Journal - by Tierney Plumb Staff Reporter
Monument Realty sold The Palatine for $118 million by auction, closing on its fourth building transaction in the last four months.
Miami-based developer Crescent Heights Inc. was the winning bidder at the foreclosure auction, prompted because the sellers were foreclosing on a construction loan to a Monument Realty venture with an investment fund managed formerly by Lehman Brothers. The sale closed March 12.
Monument built the 262-unit Courthouse building at 1301 N. Troy St. from the ground up, using at least $94 million in financing from Fremont Investment. iStar Financial, a New York-based commercial real estate finance company, later bought that loan.
When the condo market heated up in 2004 and 2005, Monument marketed the units as condos, preselling some of the units. But then condo sales hit the recessionary wall, and Monument cancelled those contracts and converted the units to rentals. The units delivered in August 2008, and Monument completed the initial lease-up of the apartments in October 2009, resulting in 95 percent of the building now being occupied.
The building was sold at an auction on Feb. 10 amidst the Washington area’s record-setting snowstorm. Ten bidders posted the $9 million deposit required to bid on the property. But bidding was quick with three bidders still actively pursuing the property at $112 million before Crescent amped up the price to $118 million.
The buyer is expected to realize a rock-bottom capitalization rate of about 4.5 percent.
The D.C. office of HFF Inc. (NYSE: HF) represented the seller. Crescent, which is notorious for embarking on condo conversion projects, is “an all-cash buyer and prefers fast closings,” according to its Web site.
“We had an indication before the auction that the sale price would be over $100 million, but no one ever expected the number to get to $118. As you can imagine, we are very pleased with this result as the sale price is well above the loan balance,” said Michael Darby, Monument Realty’s owner, in a statement. “Maybe we should always sell our assets at auction.”
It marks the fourth major transaction that Monument has closed in the past four months. Most recently, Monument sold Monument Corporate Center I, a 200,000-square-foot office building in Gaithersburg, for $42.8 million in December.
“The future is looking a lot brighter, and it feels like we are picking up some real momentum with these recent deals. We have a lot of additional deals pending and are actively pursuing new acquisitions with several new investment partners,” Darby said.
Monument Realty has developed more than 5 million square feet of Class A office space, nearly 3,500 residential units and three hotels valued at more than $5 billion.
Definitely good news for SFI
GLTY,
trade
SFI $5.23
Just too much for one day and no news. Something up?
GLTY,
trade
SFI @ $5.15!
Estrella,
Last time they filed a shelf registration was May 2007 and they didn't use it until five month's later. Sure you know this is not a company that floods the market with shares. They have actually been buying back common shares.
Original registration was almost three years old and I believe they may be required to renew it occasionally to keep it up to date. Keeping their options open.
trade
SFI great DD!
Thanks Trader, hopefully the whole information will be available on Monday and is great $$$$$ news!
GLTU Trader, have a great weekend!!
SFI filed a mixed shelf registration today:
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7122759-972-176079&type=sect&TabIndex=2&companyid=67940&ppu=%252fdefault.aspx%253fcompanyid%253d67940
Hope today was not an example of how the stock reacts next week.
Raising capital could be good move.
trade
SFI close at $4.78 and high of day was $4.90
Love the slow and steady moves with consolidation.
GLTY,
trade
SFI Somebody is taking notice. Been moving up nice last couple weeks.
trade
SFI @ $4.75!
Wall Street's Buy List
By Rich Smith (TMF Ditty)
March 2, 2010 | Comments (0)
iStar Financial,
Rate SFI CAPS Rating 4/5 Stars . $4.46 $0.13 (3.00%)
More about SFI
Don't Miss This Cheap Stock
The Next 3 Dividend Dynamos
BROWSE ALL SFI ARTICLES
Disney Buys Marvel!
David Gardner called it. He’s up 1,334%! See what David’s recommending that you buy NEXT.
•Click Here Now
Actions speak louder than words, as the old saying goes. So why does the media focus so much attention on what Wall Street says about companies, instead of what it does with them?
Luckily for Wall Street watchers, the Internet brings us MSN Money's list of which companies the institutions are buying. True, we should be as skeptical of Wall Street's actions as we are of its words. But when the 150,000-plus lay and professional investors on Motley Fool CAPS agree with Wall Street's opinions, it just might be time for some buying.
Here's the latest edition of Wall Street's Buy List, alongside our investors' opinions of the companies involved:
Companies
Recent Price
CAPS Rating
(out of 5)
Kratos Defense & Security (Nasdaq: KTOS)
$13.34
*****
Cliffs Natural Resources (NYSE: CLF)
$59.08
****
iStar Financial (NYSE: SFI)
$3.83
****
LCA Vision
$8.40
****
Sequenom (Nasdaq: SQNM)
$6.92
***
Companies are selected from the "Institutional Ownership Up Last Month" list published on MSN Money on the Saturday following close of trading last week. Recent price and CAPS ratings from Motley Fool CAPS.
Wall Street vs. Main Street
Wall Street loves all these stocks, and judging from their star ratings, CAPS members agree in for the most part. Here's the strange thing: The one company Fools appear to love most of all on today's list is one I've never heard of.
The bull case for Kratos Defense & Security
And I'm not the only one. Not a single recent pitch in all of CAPS-land mentions "Kratos" by name. The most recent bullish statement of any merit dates from more than two years ago -- and even it discusses Kratos in the context of its former corporate identity, "Wireless Facilities."
Back when it went by the former moniker, justdoodleit described Kratos as "an independent provider of systems engineering, network services and technical outsourcing for the world's largest wireless carriers, enterprise customers and for government agencies." But since changing its name in 2007, Kratos seems to have also changed its mind about the kind of business it wants to be, and now bills itself as a provider of "mission critical engineering, IT services and war fighter solutions for the U.S. federal government and for state and local agencies." It's into various military hardware and software service, scattered throughout the U.S. and various military locations.
Kratos goes commando
Yes, Fools, leaving behind its history as a sometimes-profitable-but-more-often-not corporate "cable guy," it seems Kratos has enlisted, and is "in the army now." But is that a good thing for investors?
It's really hard to say. The change in focus doesn't seem to have done much for Kratos's profitability, for example. To the contrary, the company hasn't earned a profit since 2005. And next week's release isn't likely to change that.
And while I do see some basis for CAPS members' enthusiasm for the stock -- for example, the stock sells at a price-to-sales ratio of less than 0.6 (versus the 1.0 ratio more common among defense contractors) -- to be honest, you can find similar valuations for a whole range of defense contractors that we've actually heard of. Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT), L-3 Communications (NYSE: LLL) -- these are just a few of the names currently on sale for the low, low price of 0.6 times sales, or thereabouts. Why an investor would bet on a virtual unknown like Kratos to outperform these juggernauts is beyond me.
Time to chime in
"Kratos Defense & Security." The name certainly intrigues -- but for now, the numbers just don't add up for me. That said, like I said, I do not know a lot about the company -- but I'm willing to learn.
If you've got a theory as to why everyone's buying Kratos these days, then here's your chance to enlighten the rest of us -- and become the foremost expert on the company on CAPS today. Click over to Kratos's CAPS page, and tell us all about it. Enquiring Fools want to know: What's so great about Kratos?
Are we due for a market pullback? You better believe we are! This could be YOUR OPPORTUNITY to make a bundle – with deep value plays… special situations like spin-offs, mergers, turnarounds… and even microcaps! To learn more, enter your email address here.
Fool contributor Rich Smith has no position in any company named above. You can find him on CAPS, publicly pontificating under the handle TMFDitty, where he's currently ranked No. 621 out of more than 150,000 members. The Fool has a disclosure policy.
Read/Post Comments (0) | Recommend This
Have been flipping SFI for about two years. Made money most every trade. Lately there are not as many opportunities for flipping as it seems to be strong and don't want to be left out of any run. So I am holding for now.
GLTY,
trade
SFI is long term for me!!
One day we can be back at $25.00's and I don't want to miss it, lol!
GLTU Trade!!
Yeah, was out all morning and missed the market open. Not sure if I would have tried to sell up there (around 4.70) to buy back lower or just held. Looks pretty bullish on the daily and weekly charts so I'm still in. Just raising my stop.
Enjoy the day,
trade
SFI @ $4.69!
Very nice. SFI closed above the previous 52week high of $4.28
Bullish sign. Now just to push the shorts a little bit harder. LOL
trade
SFI @ $4.33!
SFI 25% of float short. Looks like some are getting burned today. Had a good earnings report on Wednesday.
trade
Raised from SELL to HOLD at City Wok
http://www.southparkstudios.com/clips/153264
iStar Financial Raised To Hold From Sell By Citigroup - Briefing.com >SFI Last update: 2/19/2010 7:37:51 AM
Actually both SFI and GKK were green today. I'm in SFI so of course GKK did better. LOL
Going to check them out though.
trade
iStar Financial Announces Tax Treatment of 2009 Dividends
NEW YORK, Feb. 5 /PRNewswire-FirstCall/ --
iStar Financial Inc. (NYSE: SFI), a leading publicly traded finance company focused on the commercial real estate industry, announced today the tax treatment of its 2009 preferred stock dividends.
Series D Preferred Stock
During 2009, taxable dividends for iStar Financial's distribution of $2.00 per share of the 8.00% Series D preferred stock CUSIP #45031U-408, listed under NYSE ticker symbol [SFI pD], will be classified as 100% return of capital.
Series E Preferred Stock
During 2009, taxable dividends for iStar Financial's distribution of $1.968752 per share of the 7.875% Series E preferred stock CUSIP #45031U-507, listed under NYSE ticker symbol [SFI pE], will be classified as 100% return of capital.
Series F Preferred Stock
During 2009, taxable dividends for iStar Financial's distribution of $1.95 per share of the 7.80% Series F preferred stock CUSIP #45031U-606, listed under NYSE ticker symbol [SFI pF], will be classified as 100% return of capital.
Series G Preferred Stock
During 2009, taxable dividends for iStar Financial's distribution of $1.9125 per share of the 7.65% Series G preferred stock CUSIP #45031U-705, listed under NYSE ticker symbol [SFI pG], will be classified as 100% return of capital.
Series I Preferred Stock
During 2009, taxable dividends for iStar Financial's distribution of $1.875 per share of the 7.50% Series I preferred stock CUSIP #45031U-804, listed under NYSE ticker symbol [SFI pI], will be classified as 100% return of capital.
Thanks.
Yes, I've been looking at some of the other stock boards and the word scam is all over them.
Ken
Ken,
You more of an "investor" or just swing for the profits? I trade full time now. Mostly swing trades. Couple days or weeks. No long term investments.
Oh, and be careful around these parts. ihub is full of people looking to make a buck off the uninformed.
trade
Thanks for the information trade.
I hade some money in istar while back and made a few dollars. But I haven't been paying attention to the stock until recently. I saw a few stories in the news and was thinking about getting back in.
Again thanks for the advice.
Ken
You are new to ihub and your first posts is here?
Well let me be the first to welcome you!
Not sure if I am the one to ask about buying SFI as it is one of my personal favorites for the past two or three years. Have flipped it many times for profit. Now I hold a core position and flip the rest.
It is nearly impossible to time the market just right and SFI can certainly be a very volatile stock. The company offers loans for commercial real estate, probably not one of the best businesses to have been in the last couple of years.
That said my personal opinion is that this stock will go much higher. It had a quick run up the first week of January and then a pullback that seems to have been short lived. Support held at $3.20 this week though I thought it might even fall to $3.00. The fact that it closed green today when the DOW was down 100 points certainly shows strenght. $4.00 could be right around the corner.
SFI often has wide swings during the day.(15-20 cents) Look for a dip if you want to get in. Another idea might be to just buy half the shares you want and then if it pulls back a bit you could buy the other half a little cheaper. Don't be too upset if it retreats just a bit. Set a stop if you are concerned about big losses. The financials will be out in February. Have not yet decided if I will hold overnight when the financials come out, but we should have a nice run up until that point.
Good luck to you,
trade
It seems like there’s been a lot of good press about iStar recently.
What’s everyone’s general consensus on SFI (buy or wait)?
I'm still in from 2.53
But have been selling half on highs and trying to get them back lower. Grabbed a few more here at 3.50 was gonna wait for 3.45, but not sure. Will flip them at 3.70 and hold the core, if it works out.
trade
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SFI — iStar Financial, Inc. iStar Financial, Inc. 105,844,701 O/S as of Jan 30, 2009
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Background
iStar Financial, Inc. operates as a finance company focusing on the commercial real estate industry. The company provides custom-tailored financing to high-end private and corporate owners of real estate. Its financing products include senior and mezzanine real estate debt, senior and mezzanine corporate capital, corporate net lease financing, and equity. The company also involves in corporate tenant leasing business, which provides capital to corporations and others who control facilities leased primarily to single creditworthy customers. As of December 31, 2007, iStar Financial owned 407 office and industrial, entertainment, hotel, and retail facilities in 40 states. The company qualifies as a REIT for federal income tax purposes. As a REIT, it generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1993 and is based in New York, New York.
Officers
Mr. Jay Sugarman, 46
Chairman, Chief Exec. Officer and Member of Investment Committee
Jay Sugarman has been CEO of iStar Financial (SFI) for 9 years. Mr. Sugarman has been with the company for 10 years.
Education
College: Princeton
Graduate School: Harvard MBA http://www.forbes.com/lists/2006/12/CZ3K.html
Governance
iStar Financial Inc.'s Corporate Governance Quotient (CGQ®) as of 1-Apr-08 is better than 85.1% of Russell 3000 companies and 81% of Real Estate companies.
Ownership
Shares Outstanding: 97,451,921
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