Korea Investment CORP lowered its stake in SL Green Realty Corp (NYSE:SLG) by 50.2% during the third quarter, HoldingsChannel.com reports. The firm owned 14,800 shares of the real estate investment trust’s stock after selling 14,940 shares during the quarter. Korea Investment CORP’s holdings in SL Green Realty were worth $1,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $104,000. Mount Yale Investment Advisors LLC acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $143,000. ING Groep NV acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $218,000. BB&T Securities LLC acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $218,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $222,000.

Shares of SLG stock opened at $95.71 on Friday. SL Green Realty Corp has a 1-year low of $89.46 and a 1-year high of $106.54. The firm has a market cap of $8.06 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.86.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.66). SL Green Realty had a return on equity of 5.05% and a net margin of 26.46%. The business had revenue of $250.87 million for the quarter, compared to analyst estimates of $242.18 million. During the same period in the prior year, the company earned $1.49 EPS. The company’s revenue was down 21.5% on a year-over-year basis. Equities analysts predict that SL Green Realty Corp will post 6.69 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, December 31st. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.81. SL Green Realty’s dividend payout ratio is currently 50.39%.

A number of research firms have recently issued reports on SLG. TheStreet lowered SL Green Realty from a “b-” rating to a “c+” rating in a report on Friday, November 2nd. Scotiabank began coverage on SL Green Realty in a report on Tuesday, October 16th. They issued an “outperform” rating on the stock. SunTrust Banks reissued a “hold” rating and issued a $107.00 target price on shares of SL Green Realty in a report on Tuesday. Robert W. Baird lowered SL Green Realty from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $109.00 to $103.00 in a report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their target price on SL Green Realty from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $108.27.

In other SL Green Realty news, CFO Matthew J. Diliberto sold 35,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $92.27, for a total transaction of $3,229,450.00. Following the sale, the chief financial officer now directly owns 36,234 shares in the company, valued at $3,343,311.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Diliberto sold 3,967 shares of the business’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $92.07, for a total value of $365,241.69. Following the sale, the chief financial officer now owns 36,234 shares in the company, valued at $3,336,064.38. The disclosure for this sale can be found here. Corporate insiders own 3.65% of the company’s stock.

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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 September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.

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

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