SL Green Realty Corp (SLG) Director Sells $318,682.00 in Stock

SL Green Realty Corp (NYSE:SLG) Director Craig M. Hatkoff sold 3,400 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total value of $318,682.00. Following the sale, the director now directly owns 1,365 shares in the company, valued at approximately $127,941.45. The sale was disclosed in a filing with the SEC, which is accessible through this link.

SL Green Realty Corp (NYSE:SLG) traded down $2.25 during trading hours on Thursday, hitting $90.61. The company’s stock had a trading volume of 1,376,321 shares, compared to its average volume of 1,103,460. SL Green Realty Corp has a 1 year low of $90.61 and a 1 year high of $115.34. The stock has a market cap of $9,140.00, a PE ratio of 109.42, a P/E/G ratio of 2.31 and a beta of 1.12. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.51.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 earnings per share for the quarter, meeting the consensus estimate of $1.60. SL Green Realty had a return on equity of 1.42% and a net margin of 6.71%. The firm had revenue of $361.30 million for the quarter, compared to analysts’ expectations of $320.48 million. During the same quarter last year, the firm posted $1.43 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. equities analysts expect that SL Green Realty Corp will post 6.74 earnings per share for the current fiscal year.

SL Green Realty announced that its board has authorized a stock repurchase plan on Friday, December 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd were issued a $0.8125 dividend. The ex-dividend date was Friday, December 29th. This represents a $3.25 annualized dividend and a dividend yield of 3.59%. This is a boost from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio (DPR) is presently 382.35%.

Several large investors have recently added to or reduced their stakes in SLG. Capital Investment Counsel Inc purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at about $213,000. Cubist Systematic Strategies LLC purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at about $270,000. Everence Capital Management Inc. purchased a new stake in shares of SL Green Realty in the 4th quarter valued at about $281,000. Koch Industries Inc. purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at about $316,000. Finally, ING Groep NV purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at about $350,000.

A number of brokerages recently issued reports on SLG. Zacks Investment Research cut SL Green Realty from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Stifel Nicolaus dropped their price objective on SL Green Realty from $112.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, October 24th. Robert W. Baird increased their price objective on SL Green Realty from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. SunTrust Banks set a $117.00 price objective on SL Green Realty and gave the stock a “buy” rating in a report on Tuesday, December 5th. Finally, BMO Capital Markets reissued a “buy” rating and set a $120.00 price objective on shares of SL Green Realty in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. SL Green Realty has an average rating of “Buy” and a consensus target price of $114.83.

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About SL Green Realty

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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