Permanent Capital Management LP Purchases Shares of 13,628 SL Green Realty Corporation $SLG

Permanent Capital Management LP purchased a new stake in SL Green Realty Corporation (NYSE:SLG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 13,628 shares of the real estate investment trust’s stock, valued at approximately $625,000.

Several other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of SL Green Realty by 12.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,906 shares of the real estate investment trust’s stock worth $43,536,000 after purchasing an additional 81,910 shares during the period. Triumph Capital Management purchased a new stake in SL Green Realty in the third quarter valued at approximately $45,000. Hudson Bay Capital Management LP lifted its stake in SL Green Realty by 51.6% during the third quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock worth $87,345,000 after purchasing an additional 497,040 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in SL Green Realty during the third quarter worth $458,000. Finally, Dark Forest Capital Management LP boosted its position in shares of SL Green Realty by 38.4% during the third quarter. Dark Forest Capital Management LP now owns 72,242 shares of the real estate investment trust’s stock worth $4,321,000 after buying an additional 20,028 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their price objective on SL Green Realty from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Morgan Stanley set a $43.00 target price on SL Green Realty in a report on Thursday, January 29th. Zacks Research upgraded shares of SL Green Realty from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. BMO Capital Markets reduced their price target on shares of SL Green Realty from $63.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, December 8th. Finally, BTIG Research dropped their price objective on shares of SL Green Realty from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $52.80.

SL Green Realty Price Performance

SLG stock opened at $37.48 on Friday. The business has a 50 day moving average price of $41.62 and a 200 day moving average price of $48.25. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 1.05. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -23.28 and a beta of 1.66. SL Green Realty Corporation has a fifty-two week low of $35.03 and a fifty-two week high of $66.91.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data 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. The company had revenue of $159.82 million for 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 firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $1.81 earnings per share. Equities research analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Andrew S. Levine sold 1,493 shares of SL Green Realty stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.27, for a total transaction of $67,588.11. Following the sale, the insider directly owned 7,045 shares in the company, valued at $318,927.15. This trade represents a 17.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Holliday sold 22,223 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the sale, the chief executive officer directly owned 9,698 shares of the company’s stock, valued at approximately $430,591.20. This trade represents a 69.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.04% of the company’s stock.

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.