American Investment Services Inc. bought a new position in shares of SL Green Realty Corp (NYSE:SLG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,379 shares of the real estate investment trust’s stock, valued at approximately $240,000.
Several other large investors have also added to or reduced their stakes in SLG. Long Pond Capital LP lifted its position in shares of SL Green Realty by 60.3% during the third quarter. Long Pond Capital LP now owns 2,740,082 shares of the real estate investment trust’s stock worth $277,625,000 after purchasing an additional 1,031,232 shares during the last quarter. Brookfield Asset Management Inc. lifted its position in shares of SL Green Realty by 41.6% during the second quarter. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust’s stock worth $180,174,000 after purchasing an additional 500,665 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of SL Green Realty during the second quarter worth $316,000. APG Asset Management US Inc. lifted its position in shares of SL Green Realty by 35.9% during the third quarter. APG Asset Management US Inc. now owns 1,130,500 shares of the real estate investment trust’s stock worth $114,542,000 after purchasing an additional 298,500 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of SL Green Realty during the third quarter worth $14,564,000.
In other SL Green Realty news, Director John S. Levy sold 6,000 shares of SL Green Realty stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total value of $619,380.00. Following the transaction, the director now owns 21,827 shares in the company, valued at $2,253,201.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Holliday sold 160,000 shares of SL Green Realty stock in a transaction dated Wednesday, December 20th. The shares were 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. Insiders sold 169,400 shares of company stock worth $17,038,862 in the last quarter. 3.09% of the stock is owned by insiders.
SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $1.60 earnings per share for the quarter, meeting the consensus estimate of $1.60. SL Green Realty had a return on equity of 1.42% and a net margin of 6.71%. The firm had revenue of $361.30 million during the quarter, compared to the consensus estimate of $320.48 million. During the same period in the previous year, the company posted $1.43 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. research analysts anticipate that SL Green Realty Corp will post 6.74 EPS for the current fiscal year.
SL Green Realty declared that its board has initiated a stock repurchase plan on Friday, December 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a $0.8125 dividend. This represents a $3.25 annualized dividend and a yield of 3.47%. 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 payout ratio is 369.32%.
Several analysts have recently weighed in on the company. ValuEngine downgraded SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Stifel Nicolaus upgraded SL Green Realty from a “hold” rating to a “buy” rating and lifted their target price for the stock from $105.00 to $111.00 in a research report on Friday, January 26th. Robert W. Baird restated a “buy” rating and issued a $114.00 price objective on shares of SL Green Realty in a report on Friday, January 26th. SunTrust Banks set a $110.00 price objective on SL Green Realty and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $120.00 price objective on shares of SL Green Realty in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. SL Green Realty has an average rating of “Buy” and an average price target of $114.83.
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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.
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