SL Green Realty Corp (SLG) Holdings Cut by Rhumbline Advisers
Rhumbline Advisers trimmed its position in SL Green Realty Corp (NYSE:SLG) by 4.1% in the second quarter, HoldingsChannel reports. The firm owned 189,194 shares of the real estate investment trust’s stock after selling 8,018 shares during the quarter. Rhumbline Advisers’ holdings in SL Green Realty were worth $19,020,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new stake in SL Green Realty in the 2nd quarter worth about $104,000. Lenox Wealth Advisors LLC bought a new stake in SL Green Realty in the 2nd quarter worth about $166,000. Fulton Bank N.A. bought a new stake in SL Green Realty in the 2nd quarter worth about $204,000. Commerzbank Aktiengesellschaft FI bought a new stake in SL Green Realty in the 1st quarter worth about $226,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in SL Green Realty in the 1st quarter worth about $227,000.
A number of equities research analysts have issued reports on SLG shares. Sandler O’Neill reaffirmed a “buy” rating and issued a $115.00 price objective on shares of SL Green Realty in a research report on Monday, April 23rd. Citigroup reduced their price objective on shares of SL Green Realty from $118.00 to $116.00 and set a “buy” rating for the company in a research report on Tuesday, July 24th. JPMorgan Chase & Co. reduced their price objective on shares of SL Green Realty from $114.00 to $113.00 and set an “overweight” rating for the company in a research report on Tuesday, April 24th. Robert W. Baird set a $106.00 target price on shares of SL Green Realty and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, BMO Capital Markets reissued a “$100.62” rating and set a $115.00 target price on shares of SL Green Realty in a research report on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $110.25.
SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. SL Green Realty had a net margin of 21.45% and a return on equity of 4.24%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $241.47 million. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue was down 24.4% compared to the same quarter last year. equities analysts expect that SL Green Realty Corp will post 6.75 EPS for the current fiscal year.
In other news, President Andrew W. Mathias sold 65,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the completion of the transaction, the president now directly owns 277,720 shares of the company’s stock, valued at approximately $29,255,024.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.65% of the stock is owned by corporate insiders.
SL Green Realty 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 March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet.
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