iStar (NYSE:STAR) Price Target Cut to $21.00

iStar (NYSE:STAR – Get Rating) had its price objective reduced by stock analysts at Raymond James from $33.00 to $21.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Raymond James’ price objective points to a potential upside of 21.60% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of iStar from a “d+” rating to a “c-” rating in a research note on Tuesday, May 3rd. Zacks Investment Research upgraded iStar from a “sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Finally, StockNews.com cut iStar from a “hold” rating to a “sell” rating in a research note on Tuesday, May 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, iStar currently has a consensus rating of “Hold” and an average price target of $29.33.

NYSE:STAR opened at $17.27 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 9.22 and a quick ratio of 9.22. The firm’s 50-day moving average price is $20.01 and its 200-day moving average price is $22.85. The company has a market capitalization of $1.43 billion, a PE ratio of 1.69 and a beta of 0.89. iStar has a 1-year low of $15.10 and a 1-year high of $27.75.

Several large investors have recently made changes to their positions in the company. National Bank of Canada FI lifted its position in iStar by 207.8% during the first quarter. National Bank of Canada FI now owns 1,062 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 717 shares during the period. Versant Capital Management Inc boosted its stake in shares of iStar by 87.7% in the 1st quarter. Versant Capital Management Inc now owns 2,877 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 1,344 shares during the last quarter. US Bancorp DE grew its holdings in shares of iStar by 239.6% in the third quarter. US Bancorp DE now owns 5,155 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 3,637 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of iStar in the first quarter worth $145,000. Finally, Gotham Asset Management LLC purchased a new stake in iStar during the fourth quarter valued at $203,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

About iStar (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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