Equities research analysts at StockNews.com began coverage on shares of iStar (NYSE:STAR – Get Rating) in a report issued on Wednesday. The firm set a “hold” rating on the real estate investment trust’s stock.
iStar Price Performance
Shares of iStar stock opened at $8.68 on Wednesday. iStar has a twelve month low of $8.29 and a twelve month high of $27.75. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.12. The company has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $15.65. The stock has a market capitalization of $741.07 million, a price-to-earnings ratio of 0.99 and a beta of 1.24.
Hedge Funds Weigh In On iStar
Several hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System increased its holdings in iStar by 1.5% in the 2nd quarter. New York State Teachers Retirement System now owns 46,815 shares of the real estate investment trust’s stock valued at $642,000 after buying an additional 700 shares during the period. National Bank of Canada FI increased its holdings in iStar by 207.8% in the 1st quarter. National Bank of Canada FI now owns 1,062 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 717 shares during the period. US Bancorp DE increased its holdings in iStar by 11.6% in the 1st quarter. US Bancorp DE now owns 8,808 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 917 shares during the period. M&T Bank Corp increased its holdings in iStar by 1.0% in the 2nd quarter. M&T Bank Corp now owns 101,989 shares of the real estate investment trust’s stock valued at $1,399,000 after buying an additional 1,000 shares during the period. Finally, Point72 Hong Kong Ltd increased its holdings in iStar by 19.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 7,417 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 1,215 shares during the period. 84.54% of the stock is owned by institutional investors.
About iStar
iStar Inc (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on all types of properties. As the founder, investment manager and largest shareholder of Safehold Inc (NYSE: SAFE), the first publicly traded company to focus on modern ground leases, iStar is helping create a logical new approach to the way real estate is owned, and continues to use its historic strengths in finance and net lease to expand this unique platform.