istar Inc (STAR) Shares Bought by Legal & General Group Plc
Legal & General Group Plc grew its stake in shares of istar Inc (NYSE:STAR) by 472.9% in the third quarter, Holdings Channel reports. The fund owned 163,626 shares of the real estate investment trust’s stock after buying an additional 135,066 shares during the quarter. Legal & General Group Plc’s holdings in istar were worth $1,825,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of STAR. Piedmont Investment Advisors Inc. increased its stake in shares of istar by 1,281.1% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 15,606 shares of the real estate investment trust’s stock valued at $174,000 after acquiring an additional 14,476 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of istar during the 3rd quarter valued at about $181,000. Mcclain Value Management LLC acquired a new position in shares of istar during the 3rd quarter valued at about $202,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of istar during the 3rd quarter valued at about $244,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of istar during the 3rd quarter valued at about $249,000. 91.39% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on STAR. Zacks Investment Research upgraded istar from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Thursday, October 11th. ValuEngine upgraded istar from a “sell” rating to a “hold” rating in a report on Friday, December 7th. Finally, JMP Securities upgraded istar from a “market perform” rating to an “outperform” rating and set a $11.50 target price for the company in a report on Monday, December 31st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.75.
Shares of NYSE:STAR opened at $9.70 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 7.34 and a quick ratio of 7.34. istar Inc has a 1 year low of $8.89 and a 1 year high of $11.44. The stock has a market cap of $656.57 million, a PE ratio of 4.20 and a beta of 1.03.
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istar Company Profile
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 $40 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.
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