Heitman Real Estate Securities LLC grew its holdings in SL Green Realty Corp (NYSE:SLG) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,139 shares of the real estate investment trust’s stock after purchasing an additional 8,781 shares during the period. Heitman Real Estate Securities LLC owned approximately 0.12% of SL Green Realty worth $11,116,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SLG. Tower Research Capital LLC TRC acquired a new position in shares of SL Green Realty in the fourth quarter worth $133,000. Capital Investment Counsel Inc acquired a new position in SL Green Realty during the third quarter worth $213,000. American Investment Services Inc. acquired a new position in SL Green Realty during the fourth quarter worth $240,000. Cubist Systematic Strategies LLC acquired a new position in SL Green Realty during the third quarter worth $270,000. Finally, Everence Capital Management Inc. acquired a new position in SL Green Realty during the fourth quarter worth $281,000.
Shares of SL Green Realty Corp (SLG) opened at $99.61 on Monday. The stock has a market capitalization of $8,997.48, a PE ratio of 113.19, a PEG ratio of 2.46 and a beta of 1.11. SL Green Realty Corp has a 1 year low of $89.46 and a 1 year high of $110.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.11 and a quick ratio of 0.11.
SL Green Realty announced that its board has authorized a stock buyback plan on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, Director John S. Levy sold 6,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $103.23, for a total value of $619,380.00. Following the completion of the sale, the director now owns 21,827 shares in the company, valued at $2,253,201.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Craig M. Hatkoff sold 3,400 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $93.73, for a total transaction of $318,682.00. Following the completion of the sale, the director now owns 1,365 shares of the company’s stock, valued at approximately $127,941.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,400 shares of company stock valued at $17,038,862. 2.99% of the stock is owned by corporate insiders.
Several equities analysts have commented on the stock. SunTrust Banks downgraded shares of SL Green Realty from a “buy” rating to a “hold” rating and set a $108.00 target price on the stock. in a research report on Friday. Evercore ISI downgraded shares of SL Green Realty from an “in-line” rating to an “underperform” rating in a research report on Monday, March 5th. BMO Capital Markets reissued a “buy” rating and set a $115.00 target price on shares of SL Green Realty in a research report on Tuesday, February 27th. Jefferies Group assumed coverage on shares of SL Green Realty in a research report on Monday, February 26th. They set a “buy” rating on the stock. Finally, ValuEngine downgraded shares of SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. SL Green Realty has an average rating of “Hold” and a consensus target price of $114.25.
ILLEGAL ACTIVITY NOTICE: “SL Green Realty Corp (SLG) Shares Bought by Heitman Real Estate Securities LLC” was first published by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.americanbankingnews.com/2018/03/12/sl-green-realty-corp-slg-shares-bought-by-heitman-real-estate-securities-llc.html.
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.
Receive News & Ratings for SL Green Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty and related companies with MarketBeat.com's FREE daily email newsletter.