AMP Capital Investors Ltd lessened its stake in SL Green Realty Corp (NYSE:SLG) by 17.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,224 shares of the real estate investment trust’s stock after selling 36,387 shares during the period. AMP Capital Investors Ltd owned approximately 0.21% of SL Green Realty worth $16,986,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $104,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $143,000. ING Groep NV purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $218,000. BB&T Securities LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $218,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $222,000.
Shares of NYSE SLG opened at $96.42 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.93 and a quick ratio of 1.93. SL Green Realty Corp has a 12 month low of $89.46 and a 12 month high of $106.54. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 3.19 and a beta of 1.05.
SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.66). SL Green Realty had a return on equity of 5.05% and a net margin of 26.46%. The company had revenue of $250.87 million during the quarter, compared to the consensus estimate of $242.18 million. During the same quarter last year, the company posted $1.49 earnings per share. The firm’s revenue for the quarter was down 21.5% compared to the same quarter last year. Equities research analysts expect that SL Green Realty Corp will post 6.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a $0.85 dividend. The ex-dividend date of this dividend is Monday, December 31st. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.81. This represents a $3.40 annualized dividend and a yield of 3.53%. SL Green Realty’s dividend payout ratio is 50.39%.
In other SL Green Realty news, CFO Matthew J. Diliberto sold 35,000 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $92.27, for a total value of $3,229,450.00. Following the completion of the transaction, the chief financial officer now directly owns 36,234 shares in the company, valued at approximately $3,343,311.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Diliberto sold 3,967 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $92.07, for a total transaction of $365,241.69. Following the completion of the transaction, the chief financial officer now owns 36,234 shares of the company’s stock, valued at $3,336,064.38. The disclosure for this sale can be found here. 3.65% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on SLG shares. ValuEngine raised shares of SL Green Realty from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. cut shares of SL Green Realty from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. Deutsche Bank upped their price objective on shares of SL Green Realty from $111.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. TheStreet raised shares of SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. Finally, Robert W. Baird lowered shares of SL Green Realty from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $109.00 to $103.00 in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $108.36.
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About SL Green Realty
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.
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