Intact Investment Management Inc. lifted its stake in SL Green Realty (NYSE:SLG) by 775.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,500 shares of the real estate investment trust’s stock after purchasing an additional 21,700 shares during the quarter. Intact Investment Management Inc.’s holdings in SL Green Realty were worth $2,372,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in SLG. Capital Growth Management LP acquired a new position in shares of SL Green Realty in the 4th quarter valued at $48,446,000. Millennium Management LLC boosted its position in shares of SL Green Realty by 1,668.9% in the 4th quarter. Millennium Management LLC now owns 492,035 shares of the real estate investment trust’s stock valued at $49,661,000 after purchasing an additional 464,219 shares during the period. Security Capital Research & Management Inc. boosted its position in shares of SL Green Realty by 1,101.6% in the 4th quarter. Security Capital Research & Management Inc. now owns 213,704 shares of the real estate investment trust’s stock valued at $21,569,000 after purchasing an additional 195,919 shares during the period. Alliancebernstein L.P. boosted its position in shares of SL Green Realty by 71.1% in the 4th quarter. Alliancebernstein L.P. now owns 402,328 shares of the real estate investment trust’s stock valued at $40,607,000 after purchasing an additional 167,207 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of SL Green Realty by 49.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 391,578 shares of the real estate investment trust’s stock valued at $39,522,000 after purchasing an additional 129,017 shares during the period.
In other news, insider Andrew S. Levine sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $100.23, for a total transaction of $1,503,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.09% of the stock is owned by company insiders.
Shares of SL Green Realty opened at $94.57 on Friday, according to MarketBeat.com. SL Green Realty has a one year low of $95.32 and a one year high of $96.81. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.72 and a quick ratio of 2.72.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, April 18th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($1.10). SL Green Realty had a return on equity of 2.72% and a net margin of 13.36%. The firm had revenue of $301.70 million for the quarter, compared to analysts’ expectations of $295.93 million. During the same period last year, the business earned $1.57 earnings per share. The firm’s revenue for the quarter was down 20.1% on a year-over-year basis. equities analysts expect that SL Green Realty will post 6.75 EPS for the current year.
SLG has been the subject of a number of recent analyst reports. 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. Robert W. Baird restated a “buy” rating and set a $114.00 price objective on shares of SL Green Realty in a research report on Friday, January 26th. Stifel Nicolaus upgraded SL Green Realty from a “hold” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $111.00 in a research report on Friday, January 26th. ValuEngine lowered SL Green Realty from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Jefferies Group initiated coverage on SL Green Realty in a research report on Monday, February 26th. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. SL Green Realty currently has a consensus rating of “Hold” and an average price target of $112.33.
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 December 31, 2017, SL Green held interests in 121 Manhattan buildings totaling 50.0 million square feet.
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