SL Green Realty Corporation (NYSE:SLG - Get Free Report) insider Harrison Sitomer sold 16,887 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $58.52, for a total transaction of $988,227.24. Following the transaction, the insider owned 132,581 shares in the company, valued at $7,758,640.12. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Harrison Sitomer also recently made the following trade(s):
- On Friday, August 21st, Harrison Sitomer sold 23,113 shares of SL Green Realty stock. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23.
SL Green Realty Trading Up 2.0%
SL Green Realty stock opened at $58.58 on Tuesday. The stock has a market cap of $4.17 billion, a P/E ratio of -21.46, a P/E/G ratio of 2.52 and a beta of 1.58. The company's fifty day simple moving average is $52.90 and its 200-day simple moving average is $45.45. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $66.29. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05.
SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.59) by $0.21. The business had revenue of $264.00 million during the quarter, compared to analysts' expectations of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.SL Green Realty's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. As a group, sell-side analysts forecast that SL Green Realty Corporation will post 5.44 EPS for the current fiscal year.
SL Green Realty Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty's dividend payout ratio is -90.48%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on SLG shares. UBS Group set a $60.00 price target on SL Green Realty in a research report on Monday, July 27th. Scotiabank raised their price objective on SL Green Realty from $56.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH increased their price objective on SL Green Realty from $42.00 to $46.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of SL Green Realty from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Finally, Mizuho raised their target price on shares of SL Green Realty from $38.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $55.70.
View Our Latest Analysis on SL Green Realty
Hedge Funds Weigh In On SL Green Realty
Several hedge funds and other institutional investors have recently made changes to their positions in SLG. Integrity Alliance LLC. increased its holdings in SL Green Realty by 4.1% in the fourth quarter. Integrity Alliance LLC. now owns 5,970 shares of the real estate investment trust's stock valued at $274,000 after buying an additional 237 shares during the last quarter. Empowered Funds LLC boosted its position in SL Green Realty by 6.2% during the 4th quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust's stock worth $285,000 after acquiring an additional 361 shares during the period. Hantz Financial Services Inc. raised its holdings in SL Green Realty by 30.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock worth $74,000 after purchasing an additional 378 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of SL Green Realty by 3.3% in the 4th quarter. ProShare Advisors LLC now owns 13,970 shares of the real estate investment trust's stock worth $641,000 after buying an additional 442 shares in the last quarter. Finally, Fourth Dimension Wealth LLC lifted its holdings in SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust's stock valued at $73,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.
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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