Raymond James Financial Services Advisors Inc. boosted its position in shares of istar Inc (NYSE:STAR) by 3.2% in the fourth quarter, HoldingsChannel reports. The firm owned 244,877 shares of the real estate investment trust’s stock after acquiring an additional 7,570 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in istar were worth $2,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Texas Permanent School Fund increased its position in shares of istar by 48.5% in the fourth quarter. Texas Permanent School Fund now owns 44,491 shares of the real estate investment trust’s stock worth $408,000 after acquiring an additional 14,525 shares in the last quarter. Summit Global Investments purchased a new position in shares of istar in the fourth quarter worth approximately $591,000. California Public Employees Retirement System increased its position in shares of istar by 2.2% in the fourth quarter. California Public Employees Retirement System now owns 296,016 shares of the real estate investment trust’s stock worth $2,714,000 after acquiring an additional 6,438 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of istar by 444.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,440 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of istar by 73.7% in the fourth quarter. Prudential Financial Inc. now owns 524,734 shares of the real estate investment trust’s stock worth $4,812,000 after acquiring an additional 222,710 shares in the last quarter. 91.17% of the stock is owned by institutional investors and hedge funds.

In related news, major shareholder Istar Inc. acquired 5,700 shares of the stock in a transaction that occurred on Wednesday, December 19th. The shares were purchased at an average cost of $19.42 per share, with a total value of $110,694.00. Following the completion of the transaction, the insider now owns 7,611,483 shares of the company’s stock, valued at approximately $147,814,999.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 77,886 shares of company stock worth $1,495,949 over the last ninety days. 5.01% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on STAR shares. JMP Securities raised shares of istar from a “market perform” rating to an “outperform” rating and set a $11.50 target price on the stock in a research report on Monday, December 31st. ValuEngine raised shares of istar from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. Finally, Zacks Investment Research raised shares of istar from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. Five investment analysts have rated the stock with a hold rating, istar has a consensus rating of “Hold” and an average price target of $11.75.

istar stock opened at $8.43 on Friday. istar Inc has a fifty-two week low of $8.34 and a fifty-two week high of $11.44. The company has a market capitalization of $575.27 million, a PE ratio of -8.87 and a beta of 1.00. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 3.41.

istar (NYSE:STAR) last announced its quarterly earnings data on Monday, February 25th. The real estate investment trust reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.22. istar had a negative net margin of 4.04% and a negative return on equity of 1.90%. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities research analysts predict that istar Inc will post -0.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Monday, March 4th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Friday, March 1st. istar’s payout ratio is presently -37.89%.

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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 $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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Institutional Ownership by Quarter for istar (NYSE:STAR)

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