Axa cut its holdings in shares of SL Green Realty Corp (NYSE:SLG) by 38.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,782 shares of the real estate investment trust’s stock after selling 60,519 shares during the period. Axa owned 0.10% of SL Green Realty worth $9,768,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SLG. Tower Research Capital LLC TRC purchased a new stake in shares of SL Green Realty during the fourth quarter valued at $133,000. Capital Investment Counsel Inc purchased a new stake in shares of SL Green Realty during the third quarter valued at $213,000. American Investment Services Inc. purchased a new stake in shares of SL Green Realty during the fourth quarter valued at $240,000. Cubist Systematic Strategies LLC purchased a new stake in shares of SL Green Realty during the third quarter valued at $270,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of SL Green Realty during the fourth quarter valued at $281,000.
A number of equities research analysts have recently weighed in on the stock. SunTrust Banks lowered shares of SL Green Realty from a “buy” rating to a “hold” rating and set a $108.00 price objective on the stock. in a report on Friday. Evercore ISI lowered shares of SL Green Realty from an “in-line” rating to an “underperform” rating in a report on Monday, March 5th. Jefferies Group assumed coverage on shares of SL Green Realty in a report on Monday, February 26th. They set a “buy” rating on the stock. BMO Capital Markets reissued a “buy” rating and set a $115.00 price objective on shares of SL Green Realty in a report on Tuesday, February 27th. Finally, ValuEngine lowered shares of SL Green Realty from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $114.25.
Shares of SL Green Realty Corp (NYSE SLG) opened at $99.79 on Tuesday. SL Green Realty Corp has a 1-year low of $89.46 and a 1-year high of $110.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market cap of $9,760.00, a price-to-earnings ratio of 113.40, a price-to-earnings-growth ratio of 2.46 and a beta of 1.11.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, meeting the consensus estimate of $1.60. SL Green Realty had a net margin of 10.61% and a return on equity of 1.78%. The company had revenue of $361.30 million for the quarter, compared to analyst estimates of $320.48 million. During the same period in the prior year, the company earned $1.43 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. equities research analysts anticipate that SL Green Realty Corp will post 6.75 EPS for the current year.
SL Green Realty declared that its Board of Directors has authorized a share repurchase program on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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.
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.