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Is it a Smart Decision to Acquire iStar (STAR) Shares?

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Aristotle Capital Management, an independent/employee-owned investment management organization, published its “Aristotle Small/Mid Cap Equity Composite Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. For the first quarter of 2022, the Aristotle Small/Mid Cap Equity Composite generated a total return of -4.38% gross of fees (-4.52% net of fees), outperforming the -5.82% total return of the Russell 2500 Index. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Aristotle Capital Management Small/Mid Cap Equity Fund mentioned iStar Inc. (NYSE:STAR) and explained its insights for the company. Founded in 1993, iStar Inc. (NYSE:STAR) is a New York, New York-based real estate investment trust company with a $1.4 billion market capitalization. iStar Inc. (NYSE:STAR) delivered a -33.80% return since the beginning of the year, while its 12-month returns are up by 1.54%. The stock closed at $17.10 per share on May 26, 2022.

Here is what Aristotle Capital Management Small Cap Equity has to say about iStar Inc. (NYSE:STAR) in its Q1 2022 investor letter:

"iStar (NYSE:STAR), an internally-managed real estate investment trust specializing in ground leases through its ownership of 65% of Safehold Inc. (NYSE:SAFE), was added the to the portfolio. We believe the recent sale of the company’s net-lease asset portfolio will allow management to focus on continued investments in its SAFE ground lease business and also paves the way for management to acquire the remaining portion of SAFE that it does not already own."

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Our calculations show that iStar Inc. (NYSE:STAR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. iStar Inc. (NYSE:STAR) was in 23 hedge fund portfolios at the end of the first quarter of 2022, compared to 20 funds in the previous quarter. iStar Inc. (NYSE:STAR) delivered a -30.09% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.