Harrison Sitomer Sells 23,113 Shares of SL Green Realty (NYSE:SLG) Stock

SL Green Realty Corporation (NYSE:SLG) insider Harrison Sitomer sold 23,113 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the transaction, the insider owned 109,468 shares of the company’s stock, valued at $6,317,398.28. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, August 20th, Harrison Sitomer sold 16,887 shares of SL Green Realty stock. The stock was sold at an average price of $58.52, for a total transaction of $988,227.24.

SL Green Realty Stock Performance

NYSE SLG opened at $59.85 on Wednesday. The company’s 50 day moving average is $53.09 and its 200-day moving average is $45.58. SL Green Realty Corporation has a 12-month low of $34.77 and a 12-month high of $66.29. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05. The firm has a market cap of $4.26 billion, a P/E ratio of -21.92, a price-to-earnings-growth ratio of 2.57 and a beta of 1.58.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. The company had revenue of $264.00 million for the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. SL Green Realty’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. Sell-side analysts predict that SL Green Realty Corporation will post 5.44 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.1%. SL Green Realty’s payout ratio is presently -90.48%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLG. Triumph Capital Management bought a new stake in SL Green Realty during the third quarter valued at $45,000. Davis Capital Management purchased a new position in SL Green Realty during the first quarter worth about $46,000. Global Retirement Partners LLC bought a new position in SL Green Realty in the 2nd quarter worth about $53,000. Fourth Dimension Wealth LLC increased its stake in SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 500 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

SLG has been the subject of several recent research reports. Evercore cut SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price target for the company. in a research report on Monday, July 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of SL Green Realty in a report on Monday, July 27th. Weiss Ratings upgraded SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. LADENBURG THALM/SH SH upped their price target on SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of SL Green Realty from $51.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.20.

About SL Green Realty

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.