New York State Teachers Retirement System reduced its position in SL Green Realty Corp (NYSE:SLG) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,873 shares of the real estate investment trust’s stock after selling 3,799 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of SL Green Realty worth $10,599,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in SL Green Realty by 6.0% during the fourth quarter. BlackRock Inc. now owns 9,130,834 shares of the real estate investment trust’s stock worth $722,065,000 after purchasing an additional 516,276 shares during the period. Boston Partners lifted its holdings in shares of SL Green Realty by 0.9% in the first quarter. Boston Partners now owns 6,375,454 shares of the real estate investment trust’s stock worth $573,281,000 after buying an additional 58,138 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of SL Green Realty by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 1,332,281 shares of the real estate investment trust’s stock worth $105,202,000 after buying an additional 78,771 shares in the last quarter. Norges Bank purchased a new stake in shares of SL Green Realty in the fourth quarter worth about $73,769,000. Finally, Legal & General Group Plc lifted its holdings in shares of SL Green Realty by 2.3% in the fourth quarter. Legal & General Group Plc now owns 848,035 shares of the real estate investment trust’s stock worth $67,082,000 after buying an additional 19,087 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on SLG. JPMorgan Chase & Co. downgraded shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $91.91 price target on the stock. in a report on Wednesday, March 13th. Morgan Stanley downgraded shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $97.00 to $85.50 in a report on Wednesday, March 13th. Zacks Investment Research downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Deutsche Bank reaffirmed a “buy” rating and issued a $110.00 target price (down from $115.00) on shares of SL Green Realty in a research note on Wednesday, April 10th. Finally, ValuEngine downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. SL Green Realty currently has a consensus rating of “Hold” and an average price target of $97.43.
SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.72 by ($0.04). The business had revenue of $304.30 million during the quarter, compared to analysts’ expectations of $244.08 million. SL Green Realty had a return on equity of 3.01% and a net margin of 15.39%. SL Green Realty’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $1.66 EPS. As a group, research analysts predict that SL Green Realty Corp will post 6.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, June 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.88%. SL Green Realty’s dividend payout ratio is currently 51.36%.
In other SL Green Realty news, Director Betsy S. Atkins sold 6,470 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $86.08, for a total transaction of $556,937.60. Following the completion of the sale, the director now directly owns 3,214 shares in the company, valued at approximately $276,661.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.99% of the company’s stock.
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SL Green Realty 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, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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