SL Green Realty Corp. President Sells $6,980,250 in Stock (SLG)
SL Green Realty Corp. (NYSE:SLG) President Andrew Mathias sold 75,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $93.07, for a total value of $6,980,250.00. Following the sale, the president now directly owns 222,332 shares in the company. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on SLG shares. 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. SL Green Realty Corp. currently has a consensus rating of “Hold” and a consensus price target of $92.69.
Shares of 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 52-week low of $70.73 and a 52-week 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 price-to-earnings ratio of 153.95.
SL Green Realty Corp. (NYSE:SLG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that SL Green Realty Corp. will post $5.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.45%. The ex-dividend date 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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