Key Points
- Marc Holliday sold 22,223 shares of SL Green on Dec. 23 at an average price of $44.40 for about $986,701, leaving him with 9,698 shares—a 69.62% reduction in his direct ownership.
- The company pays a monthly dividend of $0.2575 (annualized yield ~6.6%), though the reported payout ratio is an unusually high 30,900%.
- SLG beat quarterly EPS estimates ($1.58 vs. $1.34) with revenue up 7.2% year-over-year, and analysts’ consensus is a Hold with a $57 price target.
SL Green Realty Corporation (NYSE:SLG - Get Free Report) CEO Marc Holliday sold 22,223 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the transaction, the chief executive officer directly owned 9,698 shares of the company's stock, valued at $430,591.20. This represents a 69.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
SL Green Realty Trading Up 1.2%
NYSE:SLG opened at $46.55 on Tuesday. SL Green Realty Corporation has a 12 month low of $40.26 and a 12 month high of $69.65. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.03. The firm's 50 day moving average is $47.32 and its 200 day moving average is $55.12. The stock has a market capitalization of $3.32 billion, a PE ratio of 4,659.56 and a beta of 1.61.
SL Green Realty (NYSE:SLG - Get Free Report) last announced 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 business had revenue of $244.82 million during the quarter, compared to analyst estimates of $170.27 million. During the same period in the prior year, the company earned $1.26 earnings per share. SL Green Realty's revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.
SL Green Realty Dividend Announcement
The company also recently disclosed a monthly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $0.2575 dividend. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Friday, November 28th. SL Green Realty's payout ratio is currently 30,900.00%.
Institutional Investors Weigh In On SL Green Realty
A number of institutional investors and hedge funds have recently made changes to their positions in SLG. State of Wyoming bought a new position in SL Green Realty in the 1st quarter worth about $172,000. AQR Capital Management LLC grew its holdings in shares of SL Green Realty by 74.8% during the first quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust's stock worth $1,519,000 after purchasing an additional 11,506 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SL Green Realty by 22.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,106 shares of the real estate investment trust's stock worth $4,507,000 after purchasing an additional 14,225 shares during the last quarter. Nixon Capital LLC raised its stake in SL Green Realty by 4.4% in the first quarter. Nixon Capital LLC now owns 366,068 shares of the real estate investment trust's stock valued at $21,122,000 after purchasing an additional 15,579 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in SL Green Realty by 2.5% during the first 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. Hedge funds and other institutional investors own 89.96% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on SLG shares. Truist Financial set a $47.00 target price on shares of SL Green Realty and gave the stock a "hold" rating in a research note on Monday, December 8th. Scotiabank set a $66.00 price objective on shares of SL Green Realty and gave the company a "sector outperform" rating in a research note on Friday, October 24th. Weiss Ratings reissued a "sell (d+)" rating on shares of SL Green Realty in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $42.00 price target (down from $48.00) on shares of SL Green Realty in a report on Tuesday, December 23rd. Finally, Wells Fargo & Company reduced their price target on SL Green Realty from $58.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, October 27th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, SL Green Realty currently has a consensus rating of "Hold" and a consensus target price of $57.00.
View Our Latest Report on SLG
SL Green Realty Company Profile
(
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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