SL Green Realty Corp (SLG) Position Lowered by Bank of Montreal Can

Bank of Montreal Can cut its position in shares of SL Green Realty Corp (NYSE:SLG) by 48.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,728 shares of the real estate investment trust’s stock after selling 22,608 shares during the period. Bank of Montreal Can’s holdings in SL Green Realty were worth $2,133,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackay Shields LLC boosted its stake in shares of SL Green Realty by 13.3% during the 4th quarter. Mackay Shields LLC now owns 15,646 shares of the real estate investment trust’s stock worth $1,238,000 after purchasing an additional 1,841 shares during the period. Pensionfund Sabic boosted its position in SL Green Realty by 206.7% in the 1st quarter. Pensionfund Sabic now owns 22,257 shares of the real estate investment trust’s stock valued at $2,002,000 after buying an additional 15,000 shares during the period. BlackRock Inc. boosted its position in SL Green Realty by 6.0% in the 4th quarter. BlackRock Inc. now owns 9,130,834 shares of the real estate investment trust’s stock valued at $722,065,000 after buying an additional 516,276 shares during the period. California Public Employees Retirement System boosted its position in SL Green Realty by 20.6% in the 4th quarter. California Public Employees Retirement System now owns 399,431 shares of the real estate investment trust’s stock valued at $31,587,000 after buying an additional 68,259 shares during the period. Finally, CSat Investment Advisory L.P. boosted its position in SL Green Realty by 55.1% in the 4th quarter. CSat Investment Advisory L.P. now owns 363 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 129 shares during the period. 98.79% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Betsy S. Atkins sold 6,470 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $86.08, for a total value of $556,937.60. Following the completion of the sale, the director now owns 3,214 shares in the company, valued at approximately $276,661.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Matthew J. Diliberto sold 2,084 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $91.66, for a total transaction of $191,019.44. The disclosure for this sale can be found here. Insiders own 3.99% of the company’s stock.

NYSE:SLG opened at $86.88 on Friday. SL Green Realty Corp has a one year low of $76.77 and a one year high of $106.54. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.65 and a quick ratio of 2.65. The stock has a market capitalization of $7.30 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 3.38 and a beta of 1.28.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 EPS for the quarter, missing the 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 business had revenue of $304.30 million during the quarter, compared to the consensus estimate of $244.08 million. During the same quarter in the prior year, the firm posted $1.66 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts forecast that SL Green Realty Corp will post 6.9 earnings per share for the current year.

Several equities research analysts have issued reports on SLG shares. JPMorgan Chase & Co. cut shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $91.91 price objective for the company. in a research report on Wednesday, March 13th. Morgan Stanley cut shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $97.00 to $85.50 in a research report on Wednesday, March 13th. Barclays raised shares of SL Green Realty from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $97.00 to $100.00 in a research report on Monday, February 4th. ValuEngine cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of SL Green Realty in a research report on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. SL Green Realty presently has an average rating of “Hold” and a consensus target price of $97.43.

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SL Green Realty Profile

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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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