Public Employees Retirement System of Ohio Sells 3,636 Shares of SL Green Realty Corp (SLG)
Public Employees Retirement System of Ohio reduced its stake in SL Green Realty Corp (NYSE:SLG) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 151,937 shares of the real estate investment trust’s stock after selling 3,636 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.15% of SL Green Realty worth $15,394,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Capital Investment Counsel Inc purchased a new stake in SL Green Realty in the 3rd quarter worth $213,000. BB&T Securities LLC purchased a new stake in SL Green Realty in the 2nd quarter worth $226,000. Pacer Advisors Inc. increased its stake in SL Green Realty by 9.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 203 shares in the last quarter. TLP Group LLC purchased a new stake in SL Green Realty in the 2nd quarter worth $260,000. Finally, Global X Management Co. LLC increased its stake in SL Green Realty by 14.9% in the 2nd quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 320 shares in the last quarter.
A number of equities research analysts have issued reports on the company. SunTrust Banks set a $117.00 price target on SL Green Realty and gave the stock a “buy” rating in a research note on Tuesday, December 5th. BTIG Research upgraded SL Green Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BMO Capital Markets reiterated a “buy” rating and issued a $125.00 price target on shares of SL Green Realty in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded SL Green Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Barclays cut their price target on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $115.62.
SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($1.17). The firm had revenue of $319.50 million for the quarter, compared to analysts’ expectations of $326.70 million. SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. sell-side analysts forecast that SL Green Realty Corp will post 6.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.8125 per share. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.15%. SL Green Realty’s dividend payout ratio (DPR) is presently 300.97%.
SL Green Realty declared that its Board of Directors has authorized a share buyback plan on Friday, December 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total transaction of $619,380.00. Following the completion of the transaction, the director now owns 21,827 shares in the company, valued at $2,253,201.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.09% of the company’s stock.
SL Green Realty Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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