SL Green Realty Corp (SLG) Position Lowered by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD lowered its position in SL Green Realty Corp (NYSE:SLG) by 1.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 9,807 shares of the real estate investment trust’s stock after selling 138 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in SL Green Realty were worth $881,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Raymond James & Associates raised its holdings in shares of SL Green Realty by 9.1% during the first quarter. Raymond James & Associates now owns 171,315 shares of the real estate investment trust’s stock valued at $15,405,000 after purchasing an additional 14,247 shares during the period. Toronto Dominion Bank lifted its stake in shares of SL Green Realty by 44.8% during the 1st quarter. Toronto Dominion Bank now owns 79,263 shares of the real estate investment trust’s stock valued at $7,125,000 after buying an additional 24,530 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of SL Green Realty by 8.4% during the 1st quarter. California Public Employees Retirement System now owns 433,103 shares of the real estate investment trust’s stock valued at $38,945,000 after buying an additional 33,672 shares in the last quarter. Quantum Capital Management purchased a new stake in shares of SL Green Realty during the 1st quarter valued at approximately $201,000. Finally, Boston Partners lifted its stake in shares of SL Green Realty by 0.9% during the 1st quarter. Boston Partners now owns 6,375,454 shares of the real estate investment trust’s stock valued at $573,281,000 after buying an additional 58,138 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

NYSE SLG traded down $0.47 during trading hours on Thursday, hitting $87.07. 6,701 shares of the company’s stock traded hands, compared to its average volume of 467,303. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 3.41 and a beta of 1.28. SL Green Realty Corp has a 52 week low of $76.77 and a 52 week high of $106.54.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.04). The business 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 quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. Sell-side analysts predict that SL Green Realty Corp will post 6.9 EPS for the current year.

In related news, Director Betsy S. Atkins sold 6,470 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $86.08, for a total transaction of $556,937.60. Following the completion of the sale, the director now directly owns 3,214 shares in the company, valued at $276,661.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew J. Diliberto sold 2,084 shares of SL Green Realty stock in a transaction that occurred on 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.

SLG has been the topic of several recent analyst reports. ValuEngine upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets reiterated a “buy” rating and issued a $100.00 target price on shares of SL Green Realty in a research note on Thursday, April 18th. Zacks Investment Research cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut 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 research note on Wednesday, March 13th. Finally, Morgan Stanley cut shares of SL Green Realty from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $97.00 to $85.50 in a research note on Wednesday, March 13th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.43.

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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 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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