New York State Common Retirement Fund Sells 7,000 Shares of SL Green Realty Corp (SLG)
New York State Common Retirement Fund cut its stake in shares of SL Green Realty Corp (NYSE:SLG) by 4.2% in the first quarter, HoldingsChannel.com reports. The fund owned 159,300 shares of the real estate investment trust’s stock after selling 7,000 shares during the period. New York State Common Retirement Fund’s holdings in SL Green Realty were worth $14,324,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. lifted its holdings in SL Green Realty by 55.1% in the 4th quarter. CSat Investment Advisory L.P. now owns 363 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 129 shares in the last quarter. Exane Asset Management purchased a new position in SL Green Realty in the 4th quarter worth approximately $118,000. Enlightenment Research LLC purchased a new position in SL Green Realty in the 4th quarter worth approximately $134,000. KCS Wealth Advisory purchased a new position in SL Green Realty in the 1st quarter worth approximately $200,000. Finally, Quantum Capital Management purchased a new position in SL Green Realty in the 1st quarter worth approximately $201,000. Institutional investors own 97.31% of the company’s stock.
In other SL Green Realty news, Director Betsy S. Atkins sold 6,470 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $86.08, for a total value of $556,937.60. Following the transaction, the director now owns 3,214 shares of the company’s stock, valued at approximately $276,661.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Diliberto sold 2,084 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $91.66, for a total value of $191,019.44. The disclosure for this sale can be found here. Corporate insiders own 3.99% of the company’s stock.
SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.04). The company had revenue of $304.30 million for the quarter, compared to analysts’ expectations of $244.08 million. SL Green Realty had a net margin of 15.39% and a return on equity of 3.01%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 EPS. Sell-side analysts forecast that SL Green Realty Corp will post 6.89 EPS for the current year.
A number of research analysts recently commented on the company. ValuEngine raised SL Green Realty from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research cut SL Green Realty from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Deutsche Bank reaffirmed a “buy” rating and set a $110.00 price objective (down from $115.00) on shares of SL Green Realty in a report on Wednesday, April 10th. BMO Capital Markets restated a “buy” rating and set a $100.00 price target on shares of SL Green Realty in a report on Thursday, April 18th. Finally, Barclays upgraded SL Green Realty from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $97.00 to $100.00 in a report on Monday, February 4th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. SL Green Realty has a consensus rating of “Hold” and an average target price of $97.43.
About SL Green Realty
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.
Further Reading: Dollar Cost Averaging
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