Investors in non-traded REITs such as Steadfast Apartment REIT, Steadfast Apartment REIT III and Steadfast Income REIT may have FINRA arbitration claims, if their investment was recommended by a financial advisor who lacked a reasonable basis for the recommendation, or if the nature of the investment was misrepresented by the stockbroker or advisor.
Steadfast Apartment REIT Inc. (“STAR”), a publicly registered non-traded real estate investment trust, has reportedly lowered its distributions to investors and and amended its share repurchase plan (SRP) to limit repurchase requests to investors who have died or have a qualifying disability.
As pf February 1, 2021, the annualized distribution payment for a share of common stock paid by STAR will be $0.5250. Prior to the change, STAR distributed $0.90 per share on an annualized basis. The lowered distributions will begin in March 2021, which is when the payment for February 2021 is remitted to investors.