Mitsubishi UFJ Trust & Banking Corp cut its position in shares of SL Green Realty Corp (NYSE:SLG) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 213,696 shares of the real estate investment trust’s stock after selling 1,408 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.22% of SL Green Realty worth $21,652,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of SLG. Candriam Luxembourg S.C.A. acquired a new position in shares of SL Green Realty in the second quarter worth $287,000. Korea Investment CORP raised its holdings in shares of SL Green Realty by 17.1% in the second quarter. Korea Investment CORP now owns 18,840 shares of the real estate investment trust’s stock worth $1,993,000 after acquiring an additional 2,755 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of SL Green Realty by 1.6% in the second quarter. Retirement Systems of Alabama now owns 49,375 shares of the real estate investment trust’s stock worth $5,224,000 after acquiring an additional 756 shares during the last quarter. Pioneer Investment Management Inc. purchased a new stake in shares of SL Green Realty in the second quarter valued at $21,269,000. Finally, Global X Management Co. LLC grew its position in shares of SL Green Realty by 14.9% in the second quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock valued at $261,000 after purchasing an additional 320 shares during the period.
SL Green Realty Corp (SLG) traded down $0.57 during mid-day trading on Friday, reaching $101.82. The company’s stock had a trading volume of 893,000 shares, compared to its average volume of 748,713. SL Green Realty Corp has a 1 year low of $93.92 and a 1 year high of $115.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $10,061.43, a P/E ratio of 16.33, a PEG ratio of 2.65 and a beta of 1.18.
SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $326.70 million. During the same period in the previous year, the company earned $1.63 EPS. SL Green Realty’s quarterly revenue was down 4.5% on a year-over-year basis. equities analysts predict that SL Green Realty Corp will post 6.44 earnings per share for the current fiscal year.
SL Green Realty announced that its Board of Directors has authorized a stock buyback program on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a $0.8125 dividend. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, December 29th. This represents a $3.25 annualized dividend and a dividend yield of 3.19%. SL Green Realty’s dividend payout ratio is presently 300.97%.
A number of equities research analysts have recently commented on SLG shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $104.00 price objective (down previously from $106.00) on shares of SL Green Realty in a research report on Friday, September 1st. BMO Capital Markets reaffirmed a “buy” rating and issued a $125.00 price objective on shares of SL Green Realty in a research report on Thursday, October 19th. Citigroup lowered their price objective on SL Green Realty from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. Barclays lowered their price target on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. Finally, Zacks Investment Research raised SL Green Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. SL Green Realty currently has a consensus rating of “Hold” and a consensus price target of $115.62.
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SL Green Realty Company 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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