Andra AP fonden increased its position in SL Green Realty Corp (NYSE:SLG) by 8.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,600 shares of the real estate investment trust’s stock after acquiring an additional 4,100 shares during the quarter. Andra AP fonden’s holdings in SL Green Realty were worth $5,187,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SLG. Piedmont Investment Advisors LLC purchased a new stake in SL Green Realty in the 2nd quarter worth about $104,000. Lenox Wealth Advisors LLC purchased a new stake in SL Green Realty in the 2nd quarter worth about $166,000. Fulton Bank N.A. purchased a new stake in SL Green Realty in the 2nd quarter worth about $204,000. ING Groep NV purchased a new stake in SL Green Realty in the 2nd quarter worth about $218,000. Finally, BB&T Securities LLC bought a new position in SL Green Realty in the 2nd quarter worth about $218,000.
Several research analysts have commented on the company. TheStreet upgraded SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. Morgan Stanley cut their target price on SL Green Realty from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, June 14th. ValuEngine downgraded SL Green Realty from a “hold” rating to a “sell” rating in a research note on Monday. BMO Capital Markets restated a “$100.62” rating and issued a $115.00 target price on shares of SL Green Realty in a research note on Wednesday, July 18th. Finally, Citigroup cut their target price on SL Green Realty from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. SL Green Realty has a consensus rating of “Hold” and a consensus price target of $110.54.
SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $241.47 million. SL Green Realty had a return on equity of 4.24% and a net margin of 21.45%. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. equities analysts forecast that SL Green Realty Corp will post 6.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.8125 per share. The ex-dividend date is Thursday, September 27th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.33%. SL Green Realty’s dividend payout ratio (DPR) is presently 50.39%.
In other news, President Andrew W. Mathias sold 65,000 shares of SL Green Realty stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the completion of the sale, the president now owns 277,720 shares in the company, valued at approximately $29,255,024.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John S. Levy sold 1,000 shares of SL Green Realty stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total value of $103,580.00. Following the sale, the director now owns 14,827 shares of the company’s stock, valued at approximately $1,535,780.66. The disclosure for this sale can be found here. Company insiders own 3.65% of the company’s stock.
About SL Green Realty
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2018, SL Green held interests in 116 Manhattan buildings totaling 49.3 million square feet.
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