SL Green Realty (NYSE:SLG) Insider Harrison Sitomer Sells 16,887 Shares

SL Green Realty Corporation (NYSE:SLG) insider Harrison Sitomer sold 16,887 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $58.52, for a total transaction of $988,227.24. Following the sale, the insider directly owned 132,581 shares in the company, valued at $7,758,640.12. The trade was a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Harrison Sitomer also recently made the following trade(s):

• On Friday, August 21st, Harrison Sitomer sold 23,113 shares of SL Green Realty stock. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23.

SL Green Realty Price Performance

SLG stock opened at $58.58 on Tuesday. The firm has a market cap of $4.17 billion, a P/E ratio of -21.46, a P/E/G ratio of 2.52 and a beta of 1.58. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.29. The firm’s fifty day moving average is $52.90 and its 200 day moving average is $45.45. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.21. The business had revenue of $264.00 million during the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. Research analysts predict that SL Green Realty Corporation will post 5.44 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.6175 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.2%. SL Green Realty’s payout ratio is currently -90.48%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore lowered shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 target price for the company. in a report on Monday, July 6th. Truist Financial set a $57.00 price objective on SL Green Realty and gave the stock a “hold” rating in a research note on Monday. LADENBURG THALM/SH SH increased their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Morgan Stanley set a $52.00 price target on shares of SL Green Realty and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Citigroup reaffirmed a “buy” rating and set a $60.00 target price (up from $45.00) on shares of SL Green Realty in a research report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and a consensus target price of $55.70.

Institutional Investors Weigh In On SL Green Realty

Several large investors have recently added to or reduced their stakes in SLG. Triumph Capital Management purchased a new position in SL Green Realty in the third quarter valued at $45,000. Global Retirement Partners LLC acquired a new stake in SL Green Realty during the 2nd quarter worth $53,000. Davis Capital Management purchased a new position in shares of SL Green Realty during the first quarter worth about $46,000. Fourth Dimension Wealth LLC raised its position in SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after buying an additional 500 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 378 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.