StockNews.com Lowers iStar (NYSE:STAR) to Sell

iStar (NYSE:STARGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other analysts also recently issued reports about the company. TheStreet downgraded iStar from a “c” rating to a “d+” rating in a research report on Tuesday, March 22nd. Zacks Investment Research upgraded iStar from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.33.

NYSE:STAR opened at $19.18 on Tuesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.85 and a quick ratio of 2.85. The business has a fifty day simple moving average of $23.71 and a two-hundred day simple moving average of $24.30. iStar has a 1 year low of $16.43 and a 1 year high of $27.75. The company has a market capitalization of $1.32 billion, a P/E ratio of 14.31 and a beta of 0.72.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its stake in iStar by 64.0% during the second quarter. Morgan Stanley now owns 586,826 shares of the real estate investment trust’s stock valued at $12,165,000 after buying an additional 229,042 shares during the period. Stephens Inc. AR bought a new stake in iStar during the third quarter valued at $246,000. Commonwealth Equity Services LLC boosted its stake in iStar by 5.1% during the third quarter. Commonwealth Equity Services LLC now owns 12,272 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 592 shares during the period. Maryland State Retirement & Pension System bought a new stake in iStar during the third quarter worth about $714,000. Finally, SG Americas Securities LLC lifted its stake in iStar by 432.7% during the third quarter. SG Americas Securities LLC now owns 165,565 shares of the real estate investment trust’s stock worth $4,152,000 after purchasing an additional 134,484 shares during the last quarter. Institutional investors own 93.76% of the company’s stock.

iStar Company Profile (Get Rating)

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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