John S. Levy Sells 6,000 Shares of SL Green Realty Corp (SLG) Stock

SL Green Realty Corp (NYSE:SLG) Director John S. Levy sold 6,000 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $103.23, for a total value of $619,380.00. Following the completion of the transaction, the director now owns 21,827 shares of the company’s stock, valued at approximately $2,253,201.21. The sale was disclosed in a document filed with the SEC, which is available at this link.

SL Green Realty Corp (SLG) traded up $0.23 during trading hours on Thursday, reaching $103.13. The company had a trading volume of 646,090 shares, compared to its average volume of 750,986. SL Green Realty Corp has a twelve month low of $93.92 and a twelve month high of $115.34. The firm has a market cap of $10,123.33, a price-to-earnings ratio of 16.43, a P/E/G ratio of 2.67 and a beta of 1.18. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.38.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($1.17). SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The company had revenue of $319.50 million for the quarter, compared to analyst estimates of $326.70 million. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. sell-side analysts forecast that SL Green Realty Corp will post 6.44 EPS for the current fiscal year.

SL Green Realty declared that its board has initiated a share buyback plan on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.8125 per share. The ex-dividend date is Friday, December 29th. This represents a $3.25 dividend on an annualized basis and a yield of 3.15%. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s payout ratio is currently 300.97%.

A number of large investors have recently added to or reduced their stakes in SLG. Capital Investment Counsel Inc acquired a new position in SL Green Realty during the 3rd quarter worth $213,000. BB&T Securities LLC acquired a new position in SL Green Realty during the 2nd quarter worth $226,000. Pacer Advisors Inc. boosted its position in SL Green Realty by 9.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 203 shares during the period. TLP Group LLC acquired a new position in SL Green Realty during the 2nd quarter worth $260,000. Finally, Global X Management Co. LLC boosted its position in SL Green Realty by 14.9% during the 2nd quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 320 shares during the period.

SLG has been the subject of several research reports. Citigroup decreased their target price on SL Green Realty from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Monday, October 23rd. SunTrust Banks set a $115.00 target price on SL Green Realty and gave the stock a “buy” rating in a research report on Saturday, October 21st. BMO Capital Markets reiterated a “buy” rating and issued a $125.00 target price on shares of SL Green Realty in a research report on Thursday, October 19th. KeyCorp reiterated a “buy” rating and issued a $130.00 target price on shares of SL Green Realty in a research report on Tuesday, September 26th. Finally, BTIG Research upgraded SL Green Realty from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. SL Green Realty has an average rating of “Hold” and an average target price of $115.62.

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SL Green Realty 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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