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iStar Financial Inc. Message Board

  • jersey27fan jersey27fan Jun 5, 2013 4:16 PM Flag

    iStar Financial: Enigmatic But Attractive - Seeking Alpha by Phillip Mause

    From the article...

    "SFI is a company with very able management, but its asset mix makes it very hard to evaluate. It has very sparse analyst coverage and is often excluded from discussions of mortgage REITs because it includes such an extensive base of non-mortgage assets. These are the very situations which tend to produce underpriced stocks and we have to do our best to work out a valuation. When a defensible valuation methodology produces a net asset value which is nearly twice the current market price, it is definitely time to take notice. I am long SFI and will be watching quarterly reports to determine whether they reveal additional data confirming my long position and motivating the increase of that position. This is a potentially very attractive value situation in a market in which it is becoming harder and harder to find undervalued equities."