13,628 Shares in SL Green Realty Corporation $SLG Acquired by Permanent Capital Management LP

Permanent Capital Management LP acquired a new stake in SL Green Realty Corporation (NYSE:SLG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 13,628 shares of the real estate investment trust’s stock, valued at approximately $625,000.

Other large investors have also modified their holdings of the company. Ethic Inc. boosted its holdings in SL Green Realty by 2.4% in the 3rd quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 193 shares in the last quarter. MAI Capital Management raised its stake in shares of SL Green Realty by 25.9% during the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 203 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of SL Green Realty by 5.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,489 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 267 shares during the period. Arizona State Retirement System lifted its holdings in shares of SL Green Realty by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 21,014 shares of the real estate investment trust’s stock valued at $1,257,000 after buying an additional 292 shares during the period. Finally, Xponance Inc. boosted its stake in shares of SL Green Realty by 5.2% in the third quarter. Xponance Inc. now owns 6,264 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 308 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

NYSE SLG opened at $37.48 on Friday. The business has a 50 day moving average price of $41.62 and a 200 day moving average price of $48.25. The company has a market capitalization of $2.67 billion, a P/E ratio of -23.28 and a beta of 1.66. SL Green Realty Corporation has a 1-year low of $35.03 and a 1-year high of $66.91. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 2.66.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $159.82 million for the quarter, compared to the consensus estimate of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.SL Green Realty’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.81 earnings per share. Sell-side analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

Insider Activity

In other SL Green Realty news, insider Andrew S. Levine sold 1,493 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.27, for a total transaction of $67,588.11. Following the completion of the transaction, the insider directly owned 7,045 shares in the company, valued at approximately $318,927.15. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total transaction of $986,701.20. Following the transaction, the chief executive officer owned 9,698 shares of the company’s stock, valued at approximately $430,591.20. The trade was a 69.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.04% of the stock is owned by insiders.

Analysts Set New Price Targets

SLG has been the subject of several research analyst reports. Evercore set a $54.00 price objective on SL Green Realty and gave the stock an “outperform” rating in a research report on Monday, December 8th. Citigroup decreased their target price on shares of SL Green Realty from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. LADENBURG THALM/SH SH lowered their price target on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, December 18th. JPMorgan Chase & Co. cut their price target on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Finally, Truist Financial set a $44.00 price objective on shares of SL Green Realty in a research note on Tuesday, February 3rd. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.80.

SL Green Realty Company Profile

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.