Putnam Investments LLC boosted its position in iStar Inc. (NYSE:STAR – Get Rating) by 219.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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’s holdings in iStar were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in iStar by 138.7% in the third quarter. First Trust Advisors LP now owns 298,673 shares of the real estate investment trust’s stock valued at $2,766,000 after purchasing an additional 173,547 shares during the period. Fort Baker Capital Management LP acquired a new stake in shares of iStar during the 3rd quarter valued at approximately $1,883,000. Bank of New York Mellon Corp lifted its position in shares of iStar by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 829,189 shares of the real estate investment trust’s stock valued at $7,679,000 after acquiring an additional 50,651 shares during the period. Bayesian Capital Management LP acquired a new stake in shares of iStar during the 3rd quarter valued at approximately $169,000. Finally, BlackRock Inc. lifted its position in shares of iStar by 10.3% during the 3rd quarter. BlackRock Inc. now owns 14,793,882 shares of the real estate investment trust’s stock valued at $136,992,000 after acquiring an additional 1,383,134 shares during the period. Institutional investors and hedge funds own 84.11% of the company’s stock.
iStar Trading Down 2.3 %
Shares of STAR opened at $6.74 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 10.40 and a quick ratio of 10.40. The firm has a 50 day simple moving average of $8.36 and a 200-day simple moving average of $9.45. iStar Inc. has a 1-year low of $6.57 and a 1-year high of $24.75. The stock has a market cap of $585.30 million, a price-to-earnings ratio of 1.07 and a beta of 1.34.
Analyst Upgrades and Downgrades
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.
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