Teacher Retirement System of Texas Trims Stake in istar Inc (STAR)

Teacher Retirement System of Texas trimmed its stake in shares of istar Inc (NYSE:STAR) by 39.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,598 shares of the real estate investment trust’s stock after selling 8,786 shares during the period. Teacher Retirement System of Texas’ holdings in istar were worth $138,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in STAR. BlueCrest Capital Management Ltd acquired a new position in istar in the fourth quarter valued at approximately $422,000. Geode Capital Management LLC lifted its holdings in istar by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 732,024 shares of the real estate investment trust’s stock valued at $8,271,000 after buying an additional 46,330 shares during the period. Koch Industries Inc. acquired a new stake in istar in the fourth quarter worth $137,000. Raymond James Financial Services Advisors Inc. raised its holdings in istar by 5.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 161,792 shares of the real estate investment trust’s stock worth $1,828,000 after purchasing an additional 8,789 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in istar in the fourth quarter worth $233,000. Institutional investors own 84.19% of the company’s stock.

Shares of STAR stock opened at $10.69 on Friday. The company has a quick ratio of 8.16, a current ratio of 8.16 and a debt-to-equity ratio of 3.17. istar Inc has a 12-month low of $9.75 and a 12-month high of $12.26. The firm has a market cap of $737.41 million, a PE ratio of 4.63 and a beta of 0.95.

istar (NYSE:STAR) last issued its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.43. istar had a net margin of 24.05% and a return on equity of 28.33%. The company had revenue of $364.25 million during the quarter, compared to the consensus estimate of $109.35 million. research analysts anticipate that istar Inc will post 0.27 EPS for the current fiscal year.

Several equities research analysts have weighed in on the stock. ValuEngine lowered shares of istar from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Raymond James assumed coverage on shares of istar in a report on Tuesday, March 27th. They issued a “market perform” rating on the stock. Finally, UBS Group began coverage on shares of istar in a report on Tuesday, March 27th. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.00.

About istar

iStar (NYSE: STAR) finances, invests in and develops real estate and real estate related projects as part of its fully-integrated investment platform. Building on over two decades of experience and more than $35 billion of transactions, iStar brings uncommon capabilities and new ways of thinking to commercial real estate and adapts its investment strategy to changing market conditions.

Institutional Ownership by Quarter for istar (NYSE:STAR)

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