Key Points
- Insider sale: Director Andrew Levine sold 1,493 shares on Dec. 22 at an average price of $45.27 for $67,588, cutting his stake by 17.49% to 7,045 shares valued at about $318,927.
- Earnings beat: SL Green reported quarterly EPS of $1.58 versus $1.34 expected and revenue of $244.82M versus $170.27M, with revenue up 7.2% year-over-year.
- Dividend and market view: The REIT pays a monthly dividend of $0.2575 (annualized yield ~7.0%) while the stock trades near $44.45 (52-week range $40.26–$69.65) and carries a consensus analyst rating of Hold with an average price target of $57.00.
SL Green Realty Corporation (NYSE:SLG - Get Free Report) insider Andrew Levine sold 1,493 shares of SL Green Realty stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $45.27, for a total transaction of $67,588.11. Following the sale, the insider directly owned 7,045 shares of the company's stock, valued at $318,927.15. This represents a 17.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
SL Green Realty Stock Down 1.4%
Shares of NYSE:SLG opened at $44.45 on Wednesday. SL Green Realty Corporation has a 52-week low of $40.26 and a 52-week high of $69.65. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.03. The business's 50 day moving average is $47.94 and its 200 day moving average is $55.66. The stock has a market cap of $3.17 billion, a P/E ratio of 4,449.45 and a beta of 1.61.
SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.24. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The firm had revenue of $244.82 million during the quarter, compared to the consensus estimate of $170.27 million. During the same period in the previous year, the company posted $1.26 earnings per share. The firm's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.
SL Green Realty Dividend Announcement
The firm also recently declared a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.2575 dividend. The ex-dividend date was Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 7.0%. SL Green Realty's payout ratio is currently 30,900.00%.
Analyst Ratings Changes
SLG has been the topic of several research reports. Weiss Ratings reissued a "sell (d+)" rating on shares of SL Green Realty in a report on Wednesday, October 8th. Jefferies Financial Group upgraded SL Green Realty from a "neutral" rating to a "buy" rating and lifted their price target for the company from $57.00 to $63.00 in a report on Monday, October 13th. JPMorgan Chase & Co. boosted their price target on SL Green Realty from $69.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, October 9th. Barclays set a $59.00 price objective on SL Green Realty in a research report on Monday, November 3rd. Finally, Bank of America decreased their price target on shares of SL Green Realty from $64.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday, October 17th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and an average price target of $57.00.
Read Our Latest Stock Report on SLG
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in SLG. Ethic Inc. increased its position in SL Green Realty by 2.4% during the 3rd quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust's stock valued at $486,000 after buying an additional 193 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of SL Green Realty by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 33,200 shares of the real estate investment trust's stock worth $2,055,000 after acquiring an additional 200 shares during the last quarter. MAI Capital Management grew its stake in shares of SL Green Realty by 25.9% during the second quarter. MAI Capital Management now owns 988 shares of the real estate investment trust's stock worth $61,000 after acquiring an additional 203 shares during the last quarter. Amalgamated Bank increased its holdings in shares of SL Green Realty by 1.2% during the second quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust's stock valued at $1,253,000 after acquiring an additional 235 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in shares of SL Green Realty by 2.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust's stock valued at $592,000 after purchasing an additional 247 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.
About SL Green Realty
(
Get Free Report)
SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.
Founded in 1980 by real estate investor Stephen L.
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