Kettle Hill Capital Management LLC Sells 83,992 Shares of SL Green Realty Corporation $SLG

Kettle Hill Capital Management LLC trimmed its stake in SL Green Realty Corporation (NYSE:SLG) by 84.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,613 shares of the real estate investment trust’s stock after selling 83,992 shares during the quarter. Kettle Hill Capital Management LLC’s holdings in SL Green Realty were worth $934,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC bought a new stake in shares of SL Green Realty in the 3rd quarter worth approximately $27,000. Salomon & Ludwin LLC bought a new position in SL Green Realty during the third quarter valued at $29,000. Whittier Trust Co. bought a new position in SL Green Realty during the third quarter valued at $29,000. Cornerstone Planning Group LLC increased its position in SL Green Realty by 12,114.3% in the third quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 848 shares during the last quarter. Finally, MAI Capital Management increased its position in SL Green Realty by 25.9% in the second quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 203 shares during the last quarter. 89.96% of the stock is owned by institutional investors.

Insider Transactions at SL Green Realty

In other news, insider Andrew S. Levine sold 1,493 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the sale, the insider directly owned 7,045 shares in the company, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Holliday sold 22,223 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the sale, the chief executive officer directly owned 9,698 shares in the company, valued at approximately $430,591.20. The trade was a 69.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.04% of the stock is owned by insiders.

SL Green Realty Price Performance

SL Green Realty stock opened at $37.23 on Monday. The firm has a market capitalization of $2.66 billion, a P/E ratio of -23.13 and a beta of 1.66. SL Green Realty Corporation has a one year low of $35.03 and a one year high of $66.91. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 2.66. The business has a fifty day moving average price of $42.65 and a 200-day moving average price of $48.85.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The company had revenue of $159.82 million for the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS. As a group, equities research analysts forecast that SL Green Realty Corporation will post 5.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLG shares. Deutsche Bank Aktiengesellschaft set a $45.00 price target on SL Green Realty in a research note on Tuesday, January 6th. Piper Sandler dropped their price objective on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. LADENBURG THALM/SH SH cut their target price on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, December 18th. Mizuho set a $38.00 target price on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of SL Green Realty from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $52.85.

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.