Zeke Capital Advisors LLC purchased a new position in shares of SL Green Realty Corp (NYSE:SLG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,593 shares of the real estate investment trust’s stock, valued at approximately $363,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Cornerstone Capital Management Holdings LLC. increased its position in SL Green Realty by 0.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 66,503 shares of the real estate investment trust’s stock worth $6,738,000 after buying an additional 604 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in SL Green Realty by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 18,921 shares of the real estate investment trust’s stock worth $1,910,000 after buying an additional 614 shares in the last quarter. Flinton Capital Management LLC increased its position in SL Green Realty by 12.2% during the fourth quarter. Flinton Capital Management LLC now owns 5,950 shares of the real estate investment trust’s stock worth $601,000 after buying an additional 646 shares in the last quarter. Rhumbline Advisers increased its position in SL Green Realty by 0.4% during the fourth quarter. Rhumbline Advisers now owns 203,687 shares of the real estate investment trust’s stock worth $20,558,000 after buying an additional 909 shares in the last quarter. Finally, Amalgamated Bank increased its position in SL Green Realty by 9.6% during the fourth quarter. Amalgamated Bank now owns 12,170 shares of the real estate investment trust’s stock worth $1,228,000 after buying an additional 1,062 shares in the last quarter.
In other news, CEO Marc Holliday bought 7,880 shares of SL Green Realty stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $25.20 per share, for a total transaction of $198,576.00. Following the completion of the acquisition, the chief executive officer now owns 88,900 shares of the company’s stock, valued at $2,240,280. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig M. Hatkoff sold 3,400 shares of SL Green Realty stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $93.73, for a total value of $318,682.00. Following the completion of the transaction, the director now owns 1,365 shares in the company, valued at approximately $127,941.45. The disclosure for this sale can be found here. 2.99% of the stock is currently owned by company insiders.
Several research firms have weighed in on SLG. SunTrust Banks set a $117.00 price target on SL Green Realty and gave the stock a “buy” rating in a research report on Tuesday, December 5th. BMO Capital Markets reissued a “buy” rating and set a $120.00 price target on shares of SL Green Realty in a research report on Tuesday, January 9th. Jefferies Group began coverage on SL Green Realty in a report on Monday, February 26th. They set a “buy” rating on the stock. BTIG Research upgraded SL Green Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, Evercore ISI cut SL Green Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. SL Green Realty currently has an average rating of “Hold” and a consensus target price of $114.25.
SL Green Realty Corp (NYSE SLG) traded down $0.33 during mid-day trading on Tuesday, hitting $97.93. The stock had a trading volume of 67,700 shares, compared to its average volume of 1,049,615. SL Green Realty Corp has a 1-year low of $89.46 and a 1-year high of $109.95. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $8,936.96, a PE ratio of 15.36, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.60. SL Green Realty had a return on equity of 1.38% and a net margin of 6.71%. The business had revenue of $361.30 million for the quarter, compared to analysts’ expectations of $320.48 million. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. sell-side analysts forecast that SL Green Realty Corp will post 6.75 EPS for the current year.
SL Green Realty declared that its Board of Directors has authorized a share buyback plan on Friday, December 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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About SL Green Realty
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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