AXA lifted its stake in SL Green Realty Corp (NYSE:SLG) by 81.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,301 shares of the real estate investment trust’s stock after purchasing an additional 70,513 shares during the period. AXA owned 0.16% of SL Green Realty worth $15,938,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Long Pond Capital LP raised its stake in shares of SL Green Realty by 60.3% in the 3rd quarter. Long Pond Capital LP now owns 2,740,082 shares of the real estate investment trust’s stock valued at $277,625,000 after purchasing an additional 1,031,232 shares during the period. Brookfield Asset Management Inc. grew its holdings in shares of SL Green Realty by 41.6% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust’s stock valued at $180,174,000 after acquiring an additional 500,665 shares in the last quarter. Standard Life Investments LTD bought a new position in shares of SL Green Realty in the 2nd quarter valued at about $52,928,000. Koch Industries Inc. bought a new position in shares of SL Green Realty in the 2nd quarter valued at about $316,000. Finally, APG Asset Management US Inc. grew its holdings in 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 period.
Shares of SL Green Realty Corp (NYSE:SLG) traded down $0.35 during trading hours on Thursday, reaching $95.73. 664,325 shares of the company’s stock traded hands, compared to its average volume of 798,203. 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 company has a market cap of $9,700.00, a P/E ratio of 94.78, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18. SL Green Realty Corp has a 1 year low of $93.92 and a 1 year high of $115.34.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data 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). The company had revenue of $319.50 million for the quarter, compared to analysts’ expectations of $326.70 million. SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. sell-side analysts forecast that SL Green Realty Corp will post 6.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be given a $0.8125 dividend. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.39%. SL Green Realty’s payout ratio is presently 321.78%.
SL Green Realty declared that its Board of Directors has initiated a stock repurchase program on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
A number of equities analysts recently commented on the company. BMO Capital Markets reiterated a “buy” rating and set a $120.00 price target on shares of SL Green Realty in a report on Tuesday. SunTrust Banks set a $117.00 price target on shares of SL Green Realty and gave the company a “buy” rating in a research report on Tuesday, December 5th. BTIG Research upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. Zacks Investment Research raised shares of SL Green Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Barclays cut their price target on shares of SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $115.50.
In other SL Green Realty news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $619,380.00. Following the completion of the transaction, the director now directly owns 21,827 shares of the company’s stock, valued at $2,253,201.21. The disclosure for this sale can be found here. 2.99% of the stock is currently owned by insiders.
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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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