Envestnet Asset Management Inc. Cuts Stake in iStar Inc. (NYSE:STAR)

Envestnet Asset Management Inc. lessened its stake in shares of iStar Inc. (NYSE:STARGet Rating) by 38.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 70,161 shares of the real estate investment trust’s stock after selling 44,606 shares during the quarter. Envestnet Asset Management Inc.’s holdings in iStar were worth $962,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in STAR. New York State Teachers Retirement System grew its position in shares of iStar by 1.5% during the 2nd quarter. New York State Teachers Retirement System now owns 46,815 shares of the real estate investment trust’s stock valued at $642,000 after acquiring an additional 700 shares during the period. National Bank of Canada FI lifted its stake in iStar by 207.8% in 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 last quarter. US Bancorp DE grew its holdings in iStar by 11.6% during the first quarter. US Bancorp DE now owns 8,808 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 917 shares during the period. Fiera Capital Corp increased its position in iStar by 7.1% in the first quarter. Fiera Capital Corp now owns 30,025 shares of the real estate investment trust’s stock worth $703,000 after buying an additional 2,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of iStar by 16.8% in the second quarter. Victory Capital Management Inc. now owns 15,929 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 2,286 shares during the period. Institutional investors own 84.54% of the company’s stock.

iStar Price Performance

Shares of NYSE STAR opened at $10.46 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 10.74 and a current ratio of 10.74. iStar Inc. has a fifty-two week low of $8.27 and a fifty-two week high of $26.71. The stock has a market cap of $906.88 million, a PE ratio of 1.41 and a beta of 1.26. The stock has a fifty day moving average of $10.10 and a 200-day moving average of $13.49.

Analyst Upgrades and Downgrades

STAR has been the subject of several research reports. StockNews.com downgraded iStar from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th. TheStreet cut shares of iStar from a “c-” rating to a “d+” rating in a research note on Wednesday, October 12th.

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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Institutional Ownership by Quarter for iStar (NYSE:STAR)

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