Putnam Investments LLC Raises Holdings in iStar Inc. (NYSE:STAR)

Putnam Investments LLC lifted its holdings in shares of iStar Inc. (NYSE:STAR – Get Rating) by 219.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,288 shares of the real estate investment trust’s stock after purchasing an additional 81,984 shares during the period. Putnam Investments LLC owned about 0.14% of iStar worth $1,104,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of STAR. CWM LLC increased its stake in shares of iStar by 1,428.8% during the 3rd quarter. CWM LLC now owns 2,920 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,729 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of iStar by 7,576.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,913 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 4,849 shares in the last quarter. Metropolitan Life Insurance Co NY grew its stake in iStar by 64.1% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 6,799 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 2,655 shares during the period. Tower Research Capital LLC TRC grew its stake in iStar by 33.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,128 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 2,051 shares during the period. Finally, Captrust Financial Advisors purchased a new stake in iStar in the 2nd quarter worth approximately $77,000. 84.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on STAR. Raymond James cut shares of iStar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 31st. StockNews.com began coverage on shares of iStar in a research note on Friday. They issued a “hold” rating for the company. Finally, TheStreet raised shares of iStar from a “d+” rating to a “c-” rating in a research note on Monday, February 13th.

iStar Stock Down 2.3 %

Shares of NYSE STAR opened at $6.74 on Tuesday. iStar Inc. has a 52-week low of $6.57 and a 52-week high of $24.75. The firm has a fifty day moving average of $8.36 and a 200-day moving average of $9.45. The stock has a market capitalization of $585.30 million, a PE ratio of 1.07 and a beta of 1.34. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 1.18.

iStar Company Profile

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iStar, Inc is a real estate investment trust company which engages in the financing, investing, and development of real estate and related projects. It operates through the following segments: Real Estate Finance, Net Lease, Operating Properties, Land and Development, and Corporate and Other. The Real Estate Finance segment includes all of the activities of the company related to senior and mezzanine real estate loans and real estate related securities.