SL Green Realty Corp (SLG) Shares Sold by Westpac Banking Corp

Westpac Banking Corp trimmed its holdings in SL Green Realty Corp (NYSE:SLG) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,049 shares of the real estate investment trust’s stock after selling 1,370 shares during the period. Westpac Banking Corp owned about 0.12% of SL Green Realty worth $12,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Toronto Dominion Bank grew its stake in SL Green Realty by 9.2% in the third quarter. Toronto Dominion Bank now owns 37,660 shares of the real estate investment trust’s stock valued at $3,816,000 after acquiring an additional 3,178 shares during the period. Swiss National Bank lifted its holdings in shares of 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 valued at $38,015,000 after purchasing an additional 8,400 shares in the last quarter. Highbridge Capital Management LLC lifted its holdings in shares of SL Green Realty by 275.5% in the third quarter. Highbridge Capital Management LLC now owns 84,781 shares of the real estate investment trust’s stock valued at $8,590,000 after purchasing an additional 62,200 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of SL Green Realty by 117.9% in the third quarter. Artemis Investment Management LLP now owns 168,205 shares of the real estate investment trust’s stock valued at $17,040,000 after purchasing an additional 91,007 shares in the last quarter. Finally, Honeywell International Inc. lifted its holdings in shares of SL Green Realty by 27.8% in the third quarter. Honeywell International Inc. now owns 33,790 shares of the real estate investment trust’s stock valued at $3,424,000 after purchasing an additional 7,340 shares in the last quarter.

SLG has been the topic of a number of research reports. Stifel Nicolaus cut their price target on SL Green Realty from $112.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, October 24th. Zacks Investment Research upgraded SL Green Realty from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. BMO Capital Markets cut their price target on SL Green Realty from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, September 21st. BTIG Research upgraded SL Green Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Finally, KeyCorp set a $130.00 price target on SL Green Realty and gave the company a “buy” rating in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $115.50.

Shares of SL Green Realty Corp (SLG) opened at $94.11 on Friday. SL Green Realty Corp has a twelve month low of $93.92 and a twelve month high of $115.34. The stock has a market capitalization of $9,342.12, a PE ratio of 91.37, a P/E/G ratio of 2.37 and a beta of 1.18. 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 (EPS) for the quarter, missing the consensus estimate of $1.57 by ($1.17). SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. The company had revenue of $319.50 million for the quarter, compared to the consensus estimate of $326.70 million. During the same quarter in the previous year, the company posted $1.63 EPS. The business’s revenue was down 4.5% on a year-over-year basis. analysts expect that SL Green Realty Corp will post 6.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were issued a dividend of $0.8125 per share. This represents a $3.25 annualized dividend and a yield of 3.45%. The ex-dividend date was Friday, December 29th. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio is presently 315.54%.

SL Green Realty declared that its Board of Directors has authorized a share repurchase program on Friday, December 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other SL Green Realty news, Director John S. Levy sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total transaction of $619,380.00. Following the transaction, the director now owns 21,827 shares of the company’s stock, valued at $2,253,201.21. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Marc Holliday sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total value of $16,100,800.00. The disclosure for this sale can be found here. Corporate insiders own 3.09% of the company’s stock.

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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.

Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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