Insider Selling: Andrew Levine Sells 10,449 Shares of SL Green Realty Corp. Stock (SLG)
SL Green Realty Corp. (NYSE:SLG) Insider Andrew Levine sold 10,449 shares of SL Green Realty Corp. stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $91.93, for a total value of $960,576.57. Following the transaction, the insider now directly owns 39,615 shares of the company’s stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SLG. Analysts at Jefferies Group cut their price target on shares of SL Green Realty Corp. (NYSE:SLG) from $98.00 to $96.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Cowen and Company downgraded shares of SL Green Realty Corp. (NYSE:SLG) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, September 12th. They now have a $87.00 price target on the stock, down previously from $105.00. Finally, analysts at TheStreet downgraded shares of SL Green Realty Corp. (NYSE:SLG) to a “hold” rating in a research note to investors on Monday, August 19th.
Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.69.
SL Green Realty Corp. (NYSE:SLG) traded down 1.63% on Friday, hitting $91.32. 888,773 shares of the company’s stock traded hands. SL Green Realty Corp. has a 1-year low of $70.73 and a 1-year high of $95.83. The stock’s 50-day moving average is $88.74 and its 200-day moving average is $88.87. The company has a market cap of $8.399 billion and a P/E ratio of 153.95.
SL Green Realty Corp. (NYSE:SLG) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.15. The company had revenue of $365.15 million for the quarter, compared to the consensus estimate of $288.45 million. During the same quarter in the previous year, the company posted $1.94 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that SL Green Realty Corp. will post $5.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, September 26th.
SL Green Realty Corp., incorporated on June, 10, 1997, is a self-managed real estate investment trust (NYSE:SLG), with in-house capabilities in property management, acquisitions, financing, development, construction and leasing.
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