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

State of New Jersey Common Pension Fund D purchased a new position in shares of iStar Inc. (NYSE:STARGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 104,950 shares of the real estate investment trust’s stock, valued at approximately $2,457,000. State of New Jersey Common Pension Fund D owned approximately 0.15% of iStar as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Sterneck Capital Management LLC raised its stake in shares of iStar by 4.9% during the first quarter. Sterneck Capital Management LLC now owns 147,314 shares of the real estate investment trust’s stock worth $3,449,000 after acquiring an additional 6,889 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of iStar by 87.7% during the first quarter. Versant Capital Management Inc now owns 2,877 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 1,344 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in shares of iStar by 11.2% during the first quarter. Douglas Lane & Associates LLC now owns 908,276 shares of the real estate investment trust’s stock worth $21,263,000 after acquiring an additional 91,532 shares in the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of iStar during the fourth quarter worth approximately $920,000. Finally, Long Pond Capital LP purchased a new position in shares of iStar during the fourth quarter worth approximately $16,980,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TheStreet raised shares of iStar from a “d+” rating to a “c-” rating in a research note on Tuesday, May 3rd. StockNews.com upgraded shares of iStar from a “sell” rating to a “hold” rating in a report on Monday, May 30th. Finally, Raymond James cut their target price on shares of iStar from $33.00 to $21.00 in a report on Tuesday, May 24th.

iStar Stock Down 1.0 %

Shares of iStar stock opened at $16.55 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 9.22 and a current ratio of 9.22. iStar Inc. has a 52-week low of $13.48 and a 52-week high of $27.75. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 1.62 and a beta of 1.05. The company’s 50 day moving average price is $15.19 and its 200-day moving average price is $19.48.

iStar Announces Dividend

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

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.

Read More

Want to see what other hedge funds are holding STAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iStar Inc. (NYSE:STARGet Rating).

Institutional Ownership by Quarter for iStar (NYSE:STAR)

Want More Great Investing Ideas?

Receive News & Ratings for iStar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iStar and related companies with MarketBeat.com's FREE daily email newsletter.