Public Employees Retirement System of Ohio lessened its holdings in SL Green Realty Corp (NYSE:SLG) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,972 shares of the real estate investment trust’s stock after selling 1,014 shares during the period. Public Employees Retirement System of Ohio owned about 0.15% of SL Green Realty worth $10,199,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of SLG. Boston Partners boosted its position in shares of SL Green Realty by 13.5% in the fourth quarter. Boston Partners now owns 6,317,316 shares of the real estate investment trust’s stock worth $499,574,000 after buying an additional 749,249 shares during the period. BlackRock Inc. boosted its position in shares of SL Green Realty by 6.0% in the fourth quarter. BlackRock Inc. now owns 9,130,834 shares of the real estate investment trust’s stock worth $722,065,000 after buying an additional 516,276 shares during the period. JPMorgan Chase & Co. boosted its position in shares of SL Green Realty by 300.0% in the third quarter. JPMorgan Chase & Co. now owns 681,159 shares of the real estate investment trust’s stock worth $66,434,000 after buying an additional 510,858 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of SL Green Realty in the fourth quarter worth $36,840,000. Finally, Millennium Management LLC boosted its position in shares of SL Green Realty by 339.1% in the fourth quarter. Millennium Management LLC now owns 234,379 shares of the real estate investment trust’s stock worth $18,535,000 after buying an additional 181,006 shares during the period. 98.83% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on SLG shares. ValuEngine cut SL Green Realty from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Goldman Sachs Group lowered SL Green Realty from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $115.00 to $92.00 in a report on Tuesday, January 15th. Wells Fargo & Co set a $94.00 price objective on SL Green Realty and gave the stock a “market perform” rating in a report on Wednesday, January 16th. JPMorgan Chase & Co. lowered SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $91.91 price objective for the company. in a report on Wednesday, March 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $90.00 price objective on shares of SL Green Realty in a report on Monday, January 7th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $98.78.
NYSE SLG traded up $0.40 during trading on Friday, hitting $87.05. 773,094 shares of the company traded hands, compared to its average volume of 470,524. SL Green Realty Corp has a 12 month low of $76.77 and a 12 month high of $106.54. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.65 and a quick ratio of 2.05. The firm has a market cap of $7.34 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 2.73 and a beta of 1.31.
SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.04). SL Green Realty had a net margin of 15.39% and a return on equity of 3.01%. The company had revenue of $304.30 million for the quarter, compared to the consensus estimate of $244.08 million. During the same quarter last year, the business earned $1.66 earnings per share. SL Green Realty’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts expect that SL Green Realty Corp will post 6.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Thursday, March 28th. SL Green Realty’s dividend payout ratio is currently 51.36%.
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 December 31, 2018, SL Green held interests in 101 Manhattan buildings totaling 46.0 million square feet.
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