SL Green Realty Corp. (SLG) Trading Up 1.5%
SL Green Realty Corp. (NYSE:SLG) rose 1.5% during trading on Wednesday . The stock traded as high as $117.70 and last traded at $116.98, with a volume of 459,622 shares traded. The stock had previously closed at $115.25.
SLG has been the subject of several research analyst reports. TheStreet raised shares of SL Green Realty Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. JPMorgan Chase & Co. reissued a “buy” rating on shares of SL Green Realty Corp. in a research report on Wednesday, July 20th. BMO Capital Markets lifted their price target on shares of SL Green Realty Corp. from $129.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Stifel Nicolaus lifted their price target on shares of SL Green Realty Corp. from $117.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, July 25th. Finally, Jefferies Group lowered their price target 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. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $111.95.
The stock has a 50-day moving average price of $115.30 and a 200-day moving average price of $103.14. The firm has a market cap of $11.81 billion and a P/E ratio of 27.996.
SL Green Realty Corp. (NYSE:SLG) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $3.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.10 by $0.29. The business earned $617.60 million during the quarter, compared to analysts’ expectations of $343.44 million. During the same period last year, the company earned $1.62 earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year. On average, analysts expect that SL Green Realty Corp. will post $8.30 EPS for the current year.
In related news, Director Craig M. Hatkoff sold 20,500 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $115.41, for a total value of $2,365,905.00. Following the completion of the sale, the director now directly owns 7,404 shares of the company’s stock, valued at $854,495.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edwin T. Burton III sold 300 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was 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 directly owns 6,579 shares of the company’s stock, valued at $766,453.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in SL Green Realty Corp. stock. American International Group Inc. increased its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,460 shares of the real estate investment trust’s stock after buying an additional 1,245 shares during the period. American International Group Inc.’s holdings in SL Green Realty Corp. were worth $4,119,000 at the end of the most recent quarter.
SL Green Realty Corp. is a self-managed real estate investment trust, or REIT, with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. It operates two segments: real estate and debt and preferred equity investments.
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