FORA Capital LLC trimmed its position in shares of iStar Inc. (NYSE:STAR) by 55.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,474 shares of the real estate investment trust’s stock after selling 7,984 shares during the period. FORA Capital LLC’s holdings in iStar were worth $115,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of STAR. Acadian Asset Management LLC boosted its stake in iStar by 25.6% during the 1st quarter. Acadian Asset Management LLC now owns 3,693 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 752 shares during the period. Pinz Capital Management LP acquired a new position in iStar during the 1st quarter valued at about $135,000. Hsbc Holdings PLC acquired a new position in iStar during the 4th quarter valued at about $149,000. Quantbot Technologies LP acquired a new position in iStar during the 1st quarter valued at about $159,000. Finally, Mutual of America Capital Management LLC boosted its stake in iStar by 7.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 9,866 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 645 shares during the period. 96.84% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:STAR opened at $23.70 on Thursday. The stock has a 50 day moving average of $19.32. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -38.85 and a beta of 0.73. iStar Inc. has a twelve month low of $11.17 and a twelve month high of $24.45. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 3.13.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st were issued a $0.125 dividend. This is an increase from iStar’s previous quarterly dividend of $0.11. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, May 28th. iStar’s payout ratio is presently -57.47%.
A number of research analysts have issued reports on STAR shares. Zacks Investment Research raised shares of iStar from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, June 29th. B. Riley initiated coverage on shares of iStar in a research note on Wednesday, June 23rd. They issued a “buy” rating for the company.
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.
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