SL Green Realty Corp (SLG) Shares Sold by Spirit of America Management Corp NY

Spirit of America Management Corp NY lowered its position in shares of SL Green Realty Corp (NYSE:SLG) by 30.7% in the fourth quarter, Holdings Channel reports. The fund owned 20,550 shares of the real estate investment trust’s stock after selling 9,100 shares during the quarter. Spirit of America Management Corp NY’s holdings in SL Green Realty were worth $2,074,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in shares of SL Green Realty by 9.2% in the third quarter. Toronto Dominion Bank now owns 37,660 shares of the real estate investment trust’s stock valued at $3,816,000 after purchasing an additional 3,178 shares during the last quarter. Swiss National Bank increased its holdings in shares of SL Green Realty by 2.3% in the third quarter. Swiss National Bank now owns 375,200 shares of the real estate investment trust’s stock valued at $38,015,000 after purchasing an additional 8,400 shares during the last quarter. Highbridge Capital Management LLC increased its holdings in shares of SL Green Realty by 275.5% in the third quarter. Highbridge Capital Management LLC now owns 84,781 shares of the real estate investment trust’s stock valued at $8,590,000 after purchasing an additional 62,200 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of SL Green Realty by 117.9% in the third quarter. Artemis Investment Management LLP now owns 168,205 shares of the real estate investment trust’s stock valued at $17,040,000 after purchasing an additional 91,007 shares during the last quarter. Finally, Honeywell International Inc. increased its holdings in shares of SL Green Realty by 27.8% in the third quarter. Honeywell International Inc. now owns 33,790 shares of the real estate investment trust’s stock valued at $3,424,000 after purchasing an additional 7,340 shares during the last quarter.

In other news, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $2,253,201.21. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc Holliday sold 160,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total value of $16,100,800.00. The disclosure for this sale can be found here. 2.99% of the stock is owned by company insiders.

Several research firms recently commented on SLG. BTIG Research raised SL Green Realty from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. SunTrust Banks set a $117.00 price target on SL Green Realty and gave the company a “buy” rating in a report on Tuesday, December 5th. Zacks Investment Research cut SL Green Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and issued a $130.00 price target on shares of SL Green Realty in a report on Tuesday, September 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $125.00 price target on shares of SL Green Realty in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. SL Green Realty currently has an average rating of “Hold” and a consensus price target of $115.50.

SL Green Realty Corp (NYSE SLG) traded down $0.48 during mid-day trading on Wednesday, reaching $94.99. The company’s stock had a trading volume of 695,100 shares, compared to its average volume of 769,720. 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 firm has a market capitalization of $9,310.00, a PE ratio of 94.05, a price-to-earnings-growth ratio of 2.38 and a beta of 1.18. SL Green Realty Corp has a one year low of $93.92 and a one year high of $115.34.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($1.17). The business had revenue of $319.50 million for the quarter, compared to analyst estimates of $326.70 million. SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. SL Green Realty’s revenue was down 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. analysts predict that SL Green Realty Corp will post 6.44 EPS for the current fiscal year.

SL Green Realty declared that its board has approved a stock repurchase program on Friday, December 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were paid a dividend of $0.8125 per share. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date was Friday, December 29th. This represents a $3.25 annualized dividend and a yield of 3.42%. SL Green Realty’s dividend payout ratio (DPR) is 321.78%.

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About SL Green Realty

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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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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