Hartford Investment Management Co. decreased its stake in SL Green Realty Corporation (NYSE:SLG) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,131 shares of the real estate investment trust’s stock after selling 522 shares during the period. Hartford Investment Management Co.’s holdings in SL Green Realty Corporation were worth $2,341,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SLG. Shell Asset Management Co. raised its position in shares of SL Green Realty Corporation by 149.6% in the first quarter. Shell Asset Management Co. now owns 16,510 shares of the real estate investment trust’s stock valued at $1,760,000 after buying an additional 9,895 shares during the period. Korea Investment CORP raised its position in shares of SL Green Realty Corporation by 13,531.4% in the first quarter. Korea Investment CORP now owns 16,085 shares of the real estate investment trust’s stock valued at $1,715,000 after buying an additional 15,967 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of SL Green Realty Corporation by 6.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,702 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 174 shares during the period. Nationwide Fund Advisors raised its position in shares of SL Green Realty Corporation by 321.3% in the first quarter. Nationwide Fund Advisors now owns 151,303 shares of the real estate investment trust’s stock valued at $16,132,000 after buying an additional 115,391 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of SL Green Realty Corporation by 11.3% in the first quarter. State of Alaska Department of Revenue now owns 51,927 shares of the real estate investment trust’s stock valued at $5,535,000 after buying an additional 5,257 shares during the period.
Shares of SL Green Realty Corporation (NYSE:SLG) traded up 0.24% during mid-day trading on Friday, reaching $102.52. 170,003 shares of the company traded hands. The company has a market capitalization of $10.08 billion, a P/E ratio of 105.36 and a beta of 1.18. The firm’s 50 day moving average price is $104.24 and its 200-day moving average price is $106.42. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $120.63.
SL Green Realty Corporation (NYSE:SLG) last issued its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by $1.54. SL Green Realty Corporation had a return on equity of 1.43% and a net margin of 7.20%. The firm had revenue of $279.41 million for the quarter, compared to analysts’ expectations of $281.40 million. Equities analysts predict that SL Green Realty Corporation will post $1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.775 dividend. This represents a $3.10 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, June 28th. SL Green Realty Corporation’s dividend payout ratio is presently 319.59%.
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Several research analysts have weighed in on the stock. Barclays PLC increased their target price on shares of SL Green Realty Corporation from $110.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 19th. Morgan Stanley lowered shares of SL Green Realty Corporation from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $120.00 to $106.00 in a research note on Tuesday, June 13th. Jefferies Group LLC reissued a “hold” rating and set a $113.00 price target on shares of SL Green Realty Corporation in a research report on Thursday, April 20th. BMO Capital Markets reissued a “buy” rating and set a $127.00 price target on shares of SL Green Realty Corporation in a research report on Tuesday, July 4th. Finally, TheStreet cut shares of SL Green Realty Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $117.62.
In other SL Green Realty Corporation news, Director John H. Alschuler, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $106.74, for a total value of $640,440.00. Following the completion of the transaction, the director now owns 7,196 shares in the company, valued at approximately $768,101.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.09% of the stock is owned by corporate insiders.
SL Green Realty Corporation Company Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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