iStar (NYSE:STAR) Shares Gap Up to $10.53

iStar Inc. (NYSE:STARGet Rating) shares gapped up before the market opened on Tuesday . The stock had previously closed at $10.53, but opened at $11.48. iStar shares last traded at $10.56, with a volume of 847 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TheStreet lowered iStar from a “c-” rating to a “d+” rating in a research note on Wednesday, October 12th. StockNews.com lowered iStar from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th.

iStar Stock Down 2.7 %

The business has a fifty day moving average of $10.14 and a 200 day moving average of $13.52. The firm has a market cap of $906.85 million, a P/E ratio of 1.41 and a beta of 1.26. The company has a quick ratio of 10.74, a current ratio of 10.74 and a debt-to-equity ratio of 0.99.

Institutional Investors Weigh In On iStar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STAR. Verition Fund Management LLC increased its holdings in iStar by 5,898.9% in the third quarter. Verition Fund Management LLC now owns 2,364,348 shares of the real estate investment trust’s stock valued at $21,894,000 after purchasing an additional 2,324,935 shares during the last quarter. BlackRock Inc. increased its holdings in iStar by 10.3% in the third quarter. BlackRock Inc. now owns 14,793,882 shares of the real estate investment trust’s stock valued at $136,992,000 after purchasing an additional 1,383,134 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of iStar by 9.4% in the third quarter. Vanguard Group Inc. now owns 13,251,521 shares of the real estate investment trust’s stock worth $122,710,000 after acquiring an additional 1,137,643 shares in the last quarter. P Schoenfeld Asset Management LP bought a new stake in shares of iStar in the first quarter worth about $22,543,000. Finally, Pentwater Capital Management LP increased its holdings in shares of iStar by 405.3% in the third quarter. Pentwater Capital Management LP now owns 1,200,000 shares of the real estate investment trust’s stock worth $11,112,000 after acquiring an additional 962,500 shares in the last quarter. Institutional investors own 84.54% of the company’s stock.

iStar Company Profile

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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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