The Shell Asset Management Co. invests in SL Green Realty Corp. (SLG) Shares

The Shell Asset Management Co. invests in SL Green Realty Corp. (SLG) Shares

Shell Asset Management Co. increased its position in SL Green Realty Corp. (NYSE:SLG) by 36.8% during the second quarter, Holdings Channel reports. The firm owned 6,976 shares of the real estate investment trust’s stock after buying an additional 1,878 shares during the period. Shell Asset Management Co.’s holdings in SL Green Realty Corp. were worth $743,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SLG. Checchi Capital Advisers LLC boosted 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 worth $175,000 after buying an additional 167 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of SL Green Realty Corp. during the first quarter worth approximately $263,000. Oakbrook Investments LLC boosted its stake in shares of SL Green Realty Corp. by 13.6% in the second quarter. Oakbrook Investments LLC now owns 6,253 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 750 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of SL Green Realty Corp. by 21.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 7,449 shares of the real estate investment trust’s stock worth $722,000 after buying an additional 1,340 shares during the period. Finally, Babson Capital Management LLC boosted its stake in shares of SL Green Realty Corp. by 82.4% in the first quarter. Babson Capital Management LLC now owns 7,750 shares of the real estate investment trust’s stock worth $751,000 after buying an additional 3,500 shares during the period.

SL Green Realty Corp. (NYSE:SLG) traded down 0.23% during mid-day trading on Friday, hitting $104.75. The stock had a trading volume of 888,531 shares. The stock has a market cap of $10.51 billion, a PE ratio of 24.91 and a beta of 1.27. The firm’s 50-day moving average price is $112.26 and its 200-day moving average price is $106.80. SL Green Realty Corp. has a 1-year low of $80.12 and a 1-year high of $121.94.

SL Green Realty Corp. (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.29. The firm earned $617.60 million during the quarter, compared to analyst estimates of $343.44 million. SL Green Realty Corp. had a net margin of 22.61% and a return on equity of 5.57%. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, September 28th. SL Green Realty Corp.’s dividend payout ratio (DPR) is 68.41%.

A number of brokerages recently commented on SLG. TheStreet raised SL Green Realty Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Morgan Stanley upgraded SL Green Realty Corp. from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $130.00 in a report on Monday, July 25th. BTIG Research initiated coverage on SL Green Realty Corp. in a report on Thursday, August 25th. They issued a “neutral” rating for the company. BMO Capital Markets increased their price target on SL Green Realty Corp. from $129.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Stifel Nicolaus increased their price target on SL Green Realty Corp. from $117.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, July 25th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $119.07.

In other news, Director Edwin T. Burton III sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $116.50, for a total transaction of $34,950.00. Following the completion of the sale, the director now owns 6,579 shares of the company’s stock, valued at approximately $766,453.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Craig M. Hatkoff sold 20,500 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $115.41, for a total transaction of $2,365,905.00. Following the sale, the director now directly owns 7,404 shares of the company’s stock, valued at approximately $854,495.64. The disclosure for this sale can be found here. Insiders own 3.09% of the company’s stock.

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.

Related posts

Leave a Comment