Aberdeen Group plc Has $17.30 Million Stake in SL Green Realty Corporation $SLG

Aberdeen Group plc grew its holdings in SL Green Realty Corporation (NYSE:SLG) by 95.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 288,709 shares of the real estate investment trust’s stock after acquiring an additional 141,263 shares during the quarter. Aberdeen Group plc owned 0.40% of SL Green Realty worth $17,302,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Metis Global Partners LLC increased its stake in SL Green Realty by 36.3% during the 3rd quarter. Metis Global Partners LLC now owns 16,012 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 4,266 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of SL Green Realty by 14.4% in the third quarter. Public Sector Pension Investment Board now owns 277,031 shares of the real estate investment trust’s stock valued at $16,569,000 after buying an additional 34,900 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of SL Green Realty by 6.2% during the third quarter. Illinois Municipal Retirement Fund now owns 34,976 shares of the real estate investment trust’s stock worth $2,092,000 after acquiring an additional 2,054 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of SL Green Realty by 34.6% during the third quarter. Oppenheimer & Co. Inc. now owns 11,289 shares of the real estate investment trust’s stock worth $675,000 after acquiring an additional 2,900 shares during the period. Finally, Breakwater Capital Group bought a new stake in SL Green Realty in the 3rd quarter valued at $208,000. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Down 0.6%

Shares of SL Green Realty stock opened at $39.30 on Thursday. The stock has a market cap of $2.80 billion, a P/E ratio of -24.41 and a beta of 1.63. The company has a quick ratio of 3.22, a current ratio of 2.66 and a debt-to-equity ratio of 1.06. SL Green Realty Corporation has a 12-month low of $36.12 and a 12-month high of $66.91. The business’s 50 day moving average is $45.07 and its 200-day moving average is $50.87.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The business had revenue of $159.82 million for the quarter, compared to the consensus estimate of $162.73 million. During the same period in the previous year, the company earned $1.81 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

Insider Activity

In other SL Green Realty news, insider Andrew S. Levine sold 1,493 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following the sale, the insider owned 7,045 shares in the company, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total value of $986,701.20. Following the transaction, the chief executive officer owned 9,698 shares of the company’s stock, valued at $430,591.20. This represents a 69.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on SL Green Realty from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday, January 21st. BMO Capital Markets cut their target price on SL Green Realty from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 8th. Piper Sandler decreased their price target on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. Finally, Zacks Research lowered shares of SL Green Realty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and an average target price of $54.30.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.