Rhumbline Advisers Has $13.46 Million Stock Holdings in SL Green Realty Corporation $SLG

Rhumbline Advisers decreased its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,958 shares of the real estate investment trust’s stock after selling 13,090 shares during the period. Rhumbline Advisers owned 0.32% of SL Green Realty worth $13,455,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ethic Inc. increased its holdings in shares of SL Green Realty by 2.4% in the third quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 193 shares in the last quarter. MAI Capital Management increased its stake in shares of SL Green Realty by 25.9% in the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 203 shares during the period. Amalgamated Bank raised its position in shares of SL Green Realty by 1.2% during the second quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock worth $1,253,000 after acquiring an additional 235 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 253 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of SL Green Realty by 1.4% during the third quarter. Arizona State Retirement System now owns 21,014 shares of the real estate investment trust’s stock valued at $1,257,000 after acquiring an additional 292 shares during the period. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $39.22 on Friday. The firm’s 50 day simple moving average is $44.96 and its 200 day simple moving average is $50.79. SL Green Realty Corporation has a fifty-two week low of $36.12 and a fifty-two week high of $66.91. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -24.36 and a beta of 1.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 3.22.

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

Insider Buying and Selling at SL Green Realty

In other news, insider Andrew S. Levine sold 1,493 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the sale, the insider owned 7,045 shares of the company’s stock, valued at $318,927.15. This trade represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Holliday sold 22,223 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of 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. Company insiders own 5.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SLG. UBS Group set a $61.00 price objective on SL Green Realty in a research report on Wednesday, January 14th. Truist Financial set a $44.00 price target on shares of SL Green Realty in a research report on Tuesday, February 3rd. Mizuho cut their price objective on shares of SL Green Realty from $67.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Zacks Research cut shares of SL Green Realty from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler dropped their target price on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.