Lasalle Investment Management Securities LLC cut its stake in shares of SL Green Realty Corp (NYSE:SLG) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,822,494 shares of the real estate investment trust’s stock after selling 213,526 shares during the period. SL Green Realty makes up about 3.0% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 10th biggest position. Lasalle Investment Management Securities LLC owned 1.96% of SL Green Realty worth $183,944,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of SL Green Realty during the fourth quarter worth $133,000. Capital Investment Counsel Inc acquired a new position in SL Green Realty during the third quarter valued at $213,000. American Investment Services Inc. acquired a new position in SL Green Realty during the fourth quarter valued at $240,000. Cubist Systematic Strategies LLC acquired a new position in SL Green Realty during the third quarter valued at $270,000. Finally, Everence Capital Management Inc. acquired a new position in SL Green Realty during the fourth quarter valued at $281,000.
Several research firms recently weighed in on SLG. ValuEngine lowered SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Robert W. Baird reissued a “buy” rating and set a $114.00 price target on shares of SL Green Realty in a research report on Friday, January 26th. SunTrust Banks set a $110.00 price target on SL Green Realty and gave the company a “buy” rating in a research report on Monday, January 22nd. Barclays dropped their price target on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 1st. Finally, BTIG Research raised 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, six have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $114.83.
In other news, CEO Marc Holliday bought 7,880 shares of the company’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $25.20 per share, with a total value of $198,576.00. Following the transaction, the chief executive officer now directly owns 88,900 shares in the company, valued at approximately $2,240,280. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig M. Hatkoff sold 3,400 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total value of $318,682.00. Following the completion of the transaction, the director now directly owns 1,365 shares in the company, valued at $127,941.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,400 shares of company stock worth $17,038,862. Insiders own 3.09% of the company’s stock.
SL Green Realty Corp (NYSE SLG) opened at $97.62 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.11 and a quick ratio of 0.11. SL Green Realty Corp has a 52-week low of $89.46 and a 52-week high of $115.34. The firm has a market capitalization of $9,059.43, a PE ratio of 15.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.12.
SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 earnings per share for the quarter, hitting the consensus estimate of $1.60. SL Green Realty had a return on equity of 1.42% and a net margin of 6.71%. The company had revenue of $361.30 million for the quarter, compared to analyst estimates of $320.48 million. During the same period in the prior year, the firm posted $1.43 EPS. The business’s revenue was down 3.4% compared to the same quarter last year. sell-side analysts anticipate that SL Green Realty Corp will post 6.75 earnings per share for the current year.
SL Green Realty announced that its board has initiated a stock repurchase program 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 buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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SL Green Realty 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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