State of New Jersey Common Pension Fund D Purchases New Position in iStar Inc. (NYSE:STAR)

State of New Jersey Common Pension Fund D bought a new position in iStar Inc. (NYSE:STARGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 104,950 shares of the real estate investment trust’s stock, valued at approximately $2,457,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STAR. Versant Capital Management Inc boosted its holdings in iStar by 87.7% in the first quarter. Versant Capital Management Inc now owns 2,877 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 1,344 shares during the last quarter. Gotham Asset Management LLC purchased a new stake in iStar in the fourth quarter worth approximately $203,000. Versor Investments LP purchased a new stake in iStar in the fourth quarter worth approximately $285,000. Raymond James & Associates boosted its holdings in iStar by 25.6% in the fourth quarter. Raymond James & Associates now owns 11,300 shares of the real estate investment trust’s stock worth $292,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in iStar by 18.5% in the fourth quarter. Teacher Retirement System of Texas now owns 14,098 shares of the real estate investment trust’s stock worth $364,000 after purchasing an additional 2,202 shares during the last quarter. Hedge funds and other institutional investors own 96.77% of the company’s stock.

iStar Trading Down 1.0 %

Shares of iStar stock opened at $16.55 on Tuesday. The company’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $19.48. The stock has a market capitalization of $1.37 billion, a PE ratio of 1.62 and a beta of 1.05. iStar Inc. has a 1-year low of $13.48 and a 1-year high of $27.75. The company has a debt-to-equity ratio of 1.17, a current ratio of 9.22 and a quick ratio of 9.22.

iStar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, May 31st. iStar’s dividend payout ratio (DPR) is 4.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on STAR shares. TheStreet upgraded shares of iStar from a “d+” rating to a “c-” rating in a report on Tuesday, May 3rd. Raymond James dropped their price target on shares of iStar from $33.00 to $21.00 in a research note on Tuesday, May 24th. Finally, StockNews.com upgraded shares of iStar from a “sell” rating to a “hold” rating in a research note on Monday, May 30th.

iStar 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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Institutional Ownership by Quarter for iStar (NYSE:STAR)

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