California State Teachers Retirement System boosted its position in shares of SL Green Realty Corp (NYSE:SLG) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,846 shares of the real estate investment trust’s stock after acquiring an additional 1,327 shares during the period. California State Teachers Retirement System owned approximately 0.18% of SL Green Realty worth $17,243,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SLG. Long Pond Capital LP increased its stake in 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 valued at $277,625,000 after acquiring an additional 1,031,232 shares during the period. Capital Growth Management LP bought a new stake in shares of SL Green Realty in the 4th quarter valued at approximately $48,446,000. Security Capital Research & Management Inc. grew its stake in shares of SL Green Realty by 1,101.6% in the 4th quarter. Security Capital Research & Management Inc. now owns 213,704 shares of the real estate investment trust’s stock valued at $21,569,000 after purchasing an additional 195,919 shares during the period. Alliancebernstein L.P. grew its stake in shares of SL Green Realty by 71.1% in the 4th quarter. Alliancebernstein L.P. now owns 402,328 shares of the real estate investment trust’s stock valued at $40,607,000 after purchasing an additional 167,207 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of SL Green Realty by 49.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 391,578 shares of the real estate investment trust’s stock valued at $39,522,000 after purchasing an additional 129,017 shares during the period.
In other SL Green Realty news, CEO Marc Holliday bought 7,880 shares of SL Green Realty stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $25.20 per share, with a total value of $198,576.00. Following the acquisition, the chief executive officer now directly owns 88,900 shares of the company’s stock, valued at $2,240,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig M. Hatkoff sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total value of $318,682.00. Following the completion of the transaction, the director now directly owns 1,365 shares in the company, valued at $127,941.45. The disclosure for this sale can be found here. 2.99% of the stock is owned by insiders.
SLG stock opened at $97.58 on Wednesday. The company has a market capitalization of $8,936.96, a P/E ratio of 110.89, a PEG ratio of 2.44 and a beta of 1.11. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.45. SL Green Realty Corp has a 1-year low of $89.46 and a 1-year high of $109.95.
SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, hitting the consensus estimate of $1.60. The business had revenue of $361.30 million for the quarter, compared to the consensus estimate of $320.48 million. SL Green Realty had a return on equity of 1.38% and a net margin of 6.71%. SL Green Realty’s revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. research analysts anticipate that SL Green Realty Corp will post 6.75 earnings per share for the current fiscal year.
SL Green Realty declared that its board has initiated a stock repurchase program on Friday, December 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
SLG has been the topic of several analyst reports. SunTrust Banks set a $110.00 price objective on SL Green Realty and gave the company a “buy” rating in a research note on Monday, January 22nd. ValuEngine lowered SL Green Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Stifel Nicolaus upgraded SL Green Realty from a “hold” rating to a “buy” rating and upped their price objective for the company from $105.00 to $111.00 in a research note on Friday, January 26th. Robert W. Baird reiterated a “buy” rating and issued a $114.00 price objective on shares of SL Green Realty in a research note on Friday, January 26th. Finally, Evercore ISI lowered SL Green Realty from an “in-line” rating to an “underperform” rating in a research note on Monday, March 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $114.25.
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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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