SL Green Realty Corporation $SLG Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in SL Green Realty Corporation (NYSE:SLG) by 253.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,346 shares of the real estate investment trust’s stock after purchasing an additional 125,043 shares during the quarter. Victory Capital Management Inc. owned 0.24% of SL Green Realty worth $10,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SLG. Norges Bank purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $55,947,000. Prudential Financial Inc. increased its stake in SL Green Realty by 104.1% during the second quarter. Prudential Financial Inc. now owns 1,622,594 shares of the real estate investment trust’s stock worth $100,439,000 after purchasing an additional 827,407 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of SL Green Realty by 663.4% during the second quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust’s stock worth $31,789,000 after purchasing an additional 446,283 shares in the last quarter. BROOKFIELD Corp ON purchased a new position in shares of SL Green Realty in the second quarter valued at approximately $18,695,000. Finally, American Century Companies Inc. acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $12,841,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLG shares. Morgan Stanley set a $43.00 target price on shares of SL Green Realty in a report on Thursday, January 29th. JPMorgan Chase & Co. decreased their target price on SL Green Realty from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Citigroup cut their price target on SL Green Realty from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Truist Financial set a $44.00 price objective on SL Green Realty in a research note on Tuesday, February 3rd. Finally, Mizuho set a $38.00 target price on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.80.

SL Green Realty Stock Performance

Shares of SLG opened at $37.80 on Thursday. The company’s 50 day simple moving average is $43.01 and its 200-day simple moving average is $49.16. The firm has a market cap of $2.70 billion, a PE ratio of -23.48 and a beta of 1.66. SL Green Realty Corporation has a 12-month low of $35.03 and a 12-month high of $66.91. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.05.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The business had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same period in the prior year, the company earned $1.81 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

Insider Buying and Selling

In other news, insider Andrew S. Levine sold 1,493 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the completion of the sale, the insider owned 7,045 shares in the company, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the transaction, the chief executive officer owned 9,698 shares in the company, valued at approximately $430,591.20. This trade represents a 69.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 5.04% of the company’s stock.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.