Long Pond Capital LP cut its holdings in shares of SL Green Realty Corp (NYSE:SLG) by 55.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,175,880 shares of the real estate investment trust’s stock after selling 1,449,714 shares during the period. SL Green Realty makes up about 2.9% of Long Pond Capital LP’s portfolio, making the stock its 9th largest holding. Long Pond Capital LP owned 1.30% of SL Green Realty worth $113,860,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Boston Partners boosted its holdings in SL Green Realty by 2.3% in the 1st quarter. Boston Partners now owns 2,335,148 shares of the real estate investment trust’s stock worth $226,112,000 after buying an additional 52,143 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in SL Green Realty by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,558,273 shares of the real estate investment trust’s stock worth $150,888,000 after buying an additional 37,623 shares during the last quarter. Geode Capital Management LLC boosted its holdings in SL Green Realty by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 1,230,715 shares of the real estate investment trust’s stock worth $123,992,000 after buying an additional 45,716 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in SL Green Realty by 8.5% in the 1st quarter. Russell Investments Group Ltd. now owns 707,740 shares of the real estate investment trust’s stock worth $68,566,000 after buying an additional 55,404 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in SL Green Realty by 158.7% in the 1st quarter. JPMorgan Chase & Co. now owns 588,950 shares of the real estate investment trust’s stock worth $57,027,000 after buying an additional 361,279 shares during the last quarter.
Several equities research analysts recently issued reports on SLG shares. Jefferies Group reiterated a “hold” rating and issued a $100.00 price objective on shares of SL Green Realty in a report on Thursday, April 19th. Robert W. Baird set a $106.00 price objective on SL Green Realty and gave the stock a “buy” rating in a report on Tuesday, April 24th. Evercore ISI cut SL Green Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Zacks Investment Research cut SL Green Realty from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Finally, JPMorgan Chase & Co. lowered their price objective on SL Green Realty from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Tuesday, April 24th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. SL Green Realty has a consensus rating of “Hold” and an average price target of $112.33.
SL Green Realty opened at $99.06 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.72 and a current ratio of 2.72. SL Green Realty Corp has a 1-year low of $89.46 and a 1-year high of $109.00. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.06.
SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, April 18th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($1.10). SL Green Realty had a return on equity of 2.72% and a net margin of 13.36%. The business had revenue of $301.70 million during the quarter, compared to analysts’ expectations of $295.93 million. During the same period last year, the business earned $1.57 earnings per share. The company’s revenue for the quarter was down 20.1% compared to the same quarter last year. sell-side analysts forecast that SL Green Realty Corp will post 6.75 EPS for the current fiscal year.
In other news, insider Andrew S. Levine sold 15,000 shares of SL Green Realty stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $100.23, for a total transaction of $1,503,450.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.65% of the stock is currently owned by insiders.
SL Green Realty Company Profile
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet.
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