SL Green Realty (NYSE:SLG) Insider Harrison Sitomer Sells 23,113 Shares of Stock

SL Green Realty Corporation (NYSE:SLG) insider Harrison Sitomer sold 23,113 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $57.71, for a total value of $1,333,851.23. Following the completion of the sale, the insider owned 109,468 shares in the company, valued at approximately $6,317,398.28. This represents a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Harrison Sitomer also recently made the following trade(s):

• On Thursday, August 20th, Harrison Sitomer sold 16,887 shares of SL Green Realty stock. The stock was sold at an average price of $58.52, for a total value of $988,227.24.

SL Green Realty Price Performance

SL Green Realty stock opened at $58.58 on Tuesday. The firm has a market capitalization of $4.17 billion, a P/E ratio of -21.46, a PEG ratio of 2.52 and a beta of 1.58. SL Green Realty Corporation has a 1 year low of $34.77 and a 1 year high of $66.29. The business has a 50-day moving average of $52.90 and a 200-day moving average of $45.45. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The company had revenue of $264.00 million during the quarter, compared to the consensus estimate of $179.01 million. During the same quarter in the prior year, the firm posted $1.63 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that SL Green Realty Corporation will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.6175 dividend. 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 payout ratio is -90.48%.

Hedge Funds Weigh In On SL Green Realty

Hedge funds have recently made changes to their positions in the business. Triumph Capital Management purchased a new position in shares of SL Green Realty during the third quarter valued at approximately $45,000. Davis Capital Management acquired a new stake in SL Green Realty during the 1st quarter worth about $46,000. Global Retirement Partners LLC purchased a new stake in SL Green Realty during the 2nd quarter worth approximately $53,000. Fourth Dimension Wealth LLC raised its stake 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 purchasing an additional 500 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in SL Green Realty by 30.6% during the 4th 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 during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLG. Weiss Ratings raised SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price objective (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. LADENBURG THALM/SH SH increased their price target on SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price target on SL Green Realty from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Finally, Citigroup reiterated a “buy” rating and set a $60.00 price objective (up from $45.00) on shares of SL Green Realty in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.70.

About SL Green Realty

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.