New York State Teachers Retirement System reduced its stake in SL Green Realty Corp (NYSE:SLG) by 3.1% during the first quarter, Holdings Channel reports. The fund owned 117,873 shares of the real estate investment trust’s stock after selling 3,799 shares during the quarter. New York State Teachers Retirement System’s holdings in SL Green Realty were worth $10,599,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its holdings 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 acquiring an additional 129 shares during the last quarter. Exane Asset Management bought a new stake in shares of SL Green Realty in the 4th quarter worth about $118,000. Enlightenment Research LLC bought a new stake in shares of SL Green Realty in the 4th quarter worth about $134,000. KCS Wealth Advisory bought a new stake in shares of SL Green Realty in the 1st quarter worth about $200,000. Finally, Quantum Capital Management bought a new stake in shares of SL Green Realty in the 1st quarter worth about $201,000. Institutional investors own 97.26% of the company’s stock.
SLG has been the topic of a number of research reports. Barclays upgraded shares of SL Green Realty from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $97.00 to $100.00 in a report on Monday, February 4th. ValuEngine downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Morgan Stanley downgraded shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $97.00 to $85.50 in a report on Wednesday, March 13th. JPMorgan Chase & Co. downgraded shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and set a $91.91 target price on the stock. in a report on Wednesday, March 13th. Finally, Deutsche Bank restated a “buy” rating and issued a $110.00 target price (down from $115.00) on shares of SL Green Realty in a report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. SL Green Realty presently has a consensus rating of “Hold” and an average price target of $97.43.
SL Green Realty (NYSE:SLG) last issued 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). The firm had revenue of $304.30 million for the quarter, compared to the consensus estimate of $244.08 million. SL Green Realty had a net margin of 15.39% and a return on equity of 3.01%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. On average, equities analysts forecast that SL Green Realty Corp will post 6.9 EPS for the current year.
In other SL Green Realty 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 directly owns 3,214 shares of the company’s stock, valued at approximately $276,661.12. The transaction was disclosed in a filing with the SEC, which is available through this link. 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. Corporate insiders own 3.99% of the company’s stock.
SL Green Realty Company 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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