Today: Today, Kentucky Retirement Systems Insurance Trust Fund Buys New Position in SL Green Realty Corp. (SLG)

Today, Kentucky Retirement Systems Insurance Trust Fund Buys New Position in SL Green Realty Corp. (SLG)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in SL Green Realty Corp. (NYSE:SLG) during the second quarter, Holdings Channel reports. The firm bought 4,047 shares of the real estate investment trust’s stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLG. Forum Securities Ltd increased its position in SL Green Realty Corp. by 10.0% in the second quarter. Forum Securities Ltd now owns 1,100 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 100 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of SL Green Realty Corp. by 11.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,644 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 167 shares in the last quarter. MU Investments Co. Ltd. purchased a new stake in shares of SL Green Realty Corp. during the second quarter valued at approximately $185,000. Ameritas Investment Partners Inc. purchased a new stake in shares of SL Green Realty Corp. during the second quarter valued at approximately $211,000. Finally, Norinchukin Bank The increased its stake in shares of SL Green Realty Corp. by 4.8% in the second quarter. Norinchukin Bank The now owns 2,198 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 101 shares in the last quarter.

SL Green Realty Corp. (NYSE:SLG) traded down 0.20% on Friday, reaching $105.17. The company’s stock had a trading volume of 194,614 shares. SL Green Realty Corp. has a 12-month low of $80.12 and a 12-month high of $120.79. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 36.14 and a beta of 1.21. The firm has a 50-day moving average of $102.25 and a 200 day moving average of $107.19.

SL Green Realty Corp. (NYSE:SLG) last announced its quarterly earnings results on Wednesday, October 19th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $1.65. The company earned $416.68 million during the quarter, compared to analysts’ expectations of $12 million. SL Green Realty Corp. had a return on equity of 3.85% and a net margin of 16.04%. SL Green Realty Corp.’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the business earned $1.65 earnings per share. On average, equities research analysts anticipate that SL Green Realty Corp. will post $8.30 EPS for the current fiscal year.

A number of analysts recently issued reports on SLG shares. Evercore ISI downgraded shares of SL Green Realty Corp. from a “buy” rating to a “hold” rating and raised their price objective for the stock from $122.00 to $124.00 in a report on Monday, August 15th. Jefferies Group cut their target price on shares of SL Green Realty Corp. from $133.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, August 23rd. TheStreet lowered shares of SL Green Realty Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 19th. Stifel Nicolaus raised their price objective on shares of SL Green Realty Corp. from $121.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, August 15th. Finally, Robert W. Baird restated an “outperform” rating and issued a $131.00 price objective on shares of SL Green Realty Corp. in a research report on Friday, August 26th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $117.33.

About SL Green Realty Corp.

SL Green Realty Corp. is a self-managed real estate investment trust, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company acquires, owns, repositions, manages and leases commercial office, retail and multifamily properties in the New York Metropolitan area.

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