Toronto Dominion Bank grew its position in SL Green Realty Corporation (NYSE:SLG) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,660 shares of the real estate investment trust’s stock after purchasing an additional 3,178 shares during the period. Toronto Dominion Bank’s holdings in SL Green Realty were worth $3,816,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sei Investments Co. raised its holdings in SL Green Realty by 18.3% in the third quarter. Sei Investments Co. now owns 177,813 shares of the real estate investment trust’s stock worth $18,017,000 after purchasing an additional 27,516 shares during the period. BNP Paribas Arbitrage SA raised its holdings in SL Green Realty by 19.9% in the third quarter. BNP Paribas Arbitrage SA now owns 86,669 shares of the real estate investment trust’s stock worth $8,781,000 after purchasing an additional 14,359 shares during the period. Advantus Capital Management Inc raised its holdings in SL Green Realty by 38.2% in the third quarter. Advantus Capital Management Inc now owns 182,776 shares of the real estate investment trust’s stock worth $18,519,000 after purchasing an additional 50,525 shares during the period. Swiss National Bank raised its holdings in SL Green Realty by 2.3% in the third quarter. Swiss National Bank now owns 375,200 shares of the real estate investment trust’s stock worth $38,015,000 after purchasing an additional 8,400 shares during the period. Finally, Telos Capital Management Inc. acquired a new stake in shares of SL Green Realty during the third quarter worth $402,000.
SLG has been the topic of a number of research analyst reports. Citigroup dropped their price objective on shares of SL Green Realty from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Monday, October 23rd. SunTrust Banks set a $115.00 price objective on shares of SL Green Realty and gave the stock a “buy” rating in a report on Saturday, October 21st. BMO Capital Markets restated a “buy” rating and set a $125.00 price objective on shares of SL Green Realty in a report on Thursday, October 19th. KeyCorp restated a “buy” rating and set a $130.00 price objective on shares of SL Green Realty in a report on Tuesday, September 26th. Finally, BTIG Research upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $115.62.
SL Green Realty Corporation (NYSE SLG) traded down $0.22 during trading on Wednesday, reaching $102.39. 951,640 shares of the company were exchanged, compared to its average volume of 748,099. The company has a market capitalization of $10,070.00, a P/E ratio of 16.58, a P/E/G ratio of 2.69 and a beta of 1.18. SL Green Realty Corporation has a 1-year low of $93.92 and a 1-year high of $115.34. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.38.
SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($1.17). The business had revenue of $319.50 million during the quarter, compared to the consensus estimate of $326.70 million. SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. analysts predict that SL Green Realty Corporation will post 6.43 earnings per share for the current fiscal year.
SL Green Realty declared that its Board of Directors has approved a share repurchase plan on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a $0.8125 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a yield of 3.17%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio (DPR) is 306.93%.
SL Green Realty Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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