SL Green Realty Sees Unusually High Options Volume (SLG)

SL Green Realty Corp (NYSE:SLG) saw unusually large options trading on Wednesday. Investors purchased 436 call options on the company. This represents an increase of approximately 581% compared to the average daily volume of 64 call options.

In other SL Green Realty news, Director Craig M. Hatkoff sold 3,400 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total transaction of $318,682.00. Following the completion of the transaction, the director now owns 1,365 shares in the company, valued at approximately $127,941.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John S. Levy sold 6,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total value of $619,380.00. Following the transaction, the director now owns 21,827 shares of the company’s stock, valued at approximately $2,253,201.21. The disclosure for this sale can be found here. Insiders have sold a total of 169,400 shares of company stock valued at $17,038,862 in the last quarter. 2.99% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. raised its position in shares of SL Green Realty by 0.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 66,503 shares of the real estate investment trust’s stock worth $6,738,000 after purchasing an additional 604 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of SL Green Realty by 3.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 18,921 shares of the real estate investment trust’s stock worth $1,910,000 after purchasing an additional 614 shares during the period. Flinton Capital Management LLC raised its position in shares of SL Green Realty by 12.2% during the fourth quarter. Flinton Capital Management LLC now owns 5,950 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 646 shares during the period. Rhumbline Advisers raised its position in shares of SL Green Realty by 0.4% during the fourth quarter. Rhumbline Advisers now owns 203,687 shares of the real estate investment trust’s stock worth $20,558,000 after purchasing an additional 909 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in shares of SL Green Realty by 7.9% during the third quarter. Mutual of America Capital Management LLC now owns 13,400 shares of the real estate investment trust’s stock worth $1,358,000 after purchasing an additional 980 shares during the period.

Shares of SL Green Realty (NYSE SLG) opened at $93.79 on Thursday. SL Green Realty has a 12 month low of $89.46 and a 12 month high of $115.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8,601.91, a price-to-earnings ratio of 106.58, a PEG ratio of 2.29 and a beta of 1.12.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd were paid a $0.8125 dividend. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, December 29th. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s payout ratio is currently 369.32%.

SL Green Realty announced that its Board of Directors has initiated a share repurchase program on Friday, December 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

A number of brokerages have issued reports on SLG. ValuEngine lowered SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks set a $110.00 price target on SL Green Realty and gave the stock a “buy” rating in a research report on Monday, January 22nd. Robert W. Baird reiterated a “buy” rating and set a $114.00 price target on shares of SL Green Realty in a research report on Friday, January 26th. Stifel Nicolaus upgraded SL Green Realty from a “hold” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $111.00 in a research report on Friday, January 26th. Finally, Barclays reduced their price target on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. SL Green Realty presently has an average rating of “Buy” and an average target price of $114.83.

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SL Green Realty Company Profile

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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