iStar Financial's Board Approves New $65 Million Stock Repurchase Program

iStar Financial (NYSE:

) 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.