PNC Financial Services Group Inc. lessened its stake in SL Green Realty Corp (NYSE:SLG) by 26.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,264 shares of the real estate investment trust’s stock after selling 1,168 shares during the period. PNC Financial Services Group Inc.’s holdings in SL Green Realty were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SLG. Boston Partners increased its holdings in SL Green Realty by 129.5% in the 2nd quarter. Boston Partners now owns 5,359,391 shares of the real estate investment trust’s stock valued at $538,780,000 after purchasing an additional 3,024,243 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of SL Green Realty by 158.7% in the first quarter. JPMorgan Chase & Co. now owns 588,950 shares of the real estate investment trust’s stock worth $57,027,000 after acquiring an additional 361,279 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of SL Green Realty by 352.2% in the first quarter. Nuveen Asset Management LLC now owns 188,005 shares of the real estate investment trust’s stock worth $18,205,000 after acquiring an additional 146,426 shares in the last quarter. Madison International Realty Holdings LLC grew its stake in shares of SL Green Realty by 25.7% in the first quarter. Madison International Realty Holdings LLC now owns 646,723 shares of the real estate investment trust’s stock worth $62,622,000 after acquiring an additional 132,066 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of SL Green Realty by 83.7% in the first quarter. Allianz Asset Management GmbH now owns 226,946 shares of the real estate investment trust’s stock worth $21,975,000 after acquiring an additional 103,371 shares in the last quarter.

Several equities analysts have commented on SLG shares. Deutsche Bank boosted their price target on shares of SL Green Realty from $111.00 to $114.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. TheStreet upgraded shares of SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. Citigroup dropped their price target on shares of SL Green Realty from $118.00 to $116.00 and set a “buy” rating for the company in a research note on Tuesday, July 24th. BMO Capital Markets restated a “$100.62” rating and issued a $115.00 price target on shares of SL Green Realty in a research note on Wednesday, July 18th. Finally, ValuEngine upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $110.54.

In other news, Director John S. Levy sold 1,000 shares of SL Green Realty stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $103.58, for a total transaction of $103,580.00. Following the completion of the sale, the director now directly owns 14,827 shares of the company’s stock, valued at approximately $1,535,780.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Andrew W. Mathias sold 65,000 shares of SL Green Realty stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the sale, the president now directly owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by insiders.

SL Green Realty stock opened at $96.01 on Thursday. The firm has a market cap of $8.45 billion, a PE ratio of 14.89, a PEG ratio of 3.03 and a beta of 1.08. SL Green Realty Corp has a 12-month low of $89.46 and a 12-month high of $106.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.73 and a quick ratio of 2.73.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.01. The business had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $241.47 million. SL Green Realty had a net margin of 21.45% and a return on equity of 4.24%. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 EPS. sell-side analysts forecast that SL Green Realty Corp will post 6.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.8125 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.25 annualized dividend and a dividend yield of 3.39%. SL Green Realty’s dividend payout ratio (DPR) is currently 50.39%.

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 June 30, 2018, SL Green held interests in 116 Manhattan buildings totaling 49.3 million square feet.

Further Reading: Risk Tolerance and Your Investment Decisions

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

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