TD Asset Management Inc. Sells 2,520 Shares of SL Green Realty Corp (SLG)
TD Asset Management Inc. trimmed its holdings in shares of SL Green Realty Corp (NYSE:SLG) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,827 shares of the real estate investment trust’s stock after selling 2,520 shares during the quarter. TD Asset Management Inc.’s holdings in SL Green Realty were worth $3,123,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SLG. Brookfield Asset Management Inc. raised its stake in shares of SL Green Realty by 41.6% during the 2nd quarter. Brookfield Asset Management Inc. now owns 1,702,965 shares of the real estate investment trust’s stock worth $180,174,000 after buying an additional 500,665 shares during the period. Standard Life Investments LTD acquired a new position in shares of SL Green Realty during the 2nd quarter worth approximately $52,928,000. Koch Industries Inc. acquired a new position in shares of SL Green Realty during the 2nd quarter worth approximately $316,000. APG Asset Management US Inc. raised its stake in shares of SL Green Realty by 35.9% during the 3rd quarter. APG Asset Management US Inc. now owns 1,130,500 shares of the real estate investment trust’s stock worth $114,542,000 after buying an additional 298,500 shares during the period. Finally, FMR LLC raised its stake in shares of SL Green Realty by 8.9% during the 2nd quarter. FMR LLC now owns 2,846,095 shares of the real estate investment trust’s stock worth $301,117,000 after buying an additional 232,516 shares during the period.
Several brokerages have recently weighed in on SLG. SunTrust Banks set a $117.00 target price on SL Green Realty and gave the stock a “buy” rating in a research note on Tuesday. BTIG Research raised SL Green Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday. KeyCorp reaffirmed a “buy” rating and set a $130.00 target price on shares of SL Green Realty in a research note on Tuesday, September 26th. Bank of America downgraded SL Green Realty from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $113.00 to $110.00 in a research note on Wednesday, August 16th. Finally, BidaskClub downgraded SL Green Realty from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $115.62.
SL Green Realty Corp (NYSE SLG) traded up $0.78 during midday trading on Friday, reaching $102.60. The company had a trading volume of 1,048,371 shares, compared to its average volume of 832,306. SL Green Realty Corp has a 1 year low of $93.92 and a 1 year high of $115.34. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.38. The firm has a market cap of $10,005.41, a P/E ratio of 16.24, a P/E/G ratio of 2.64 and a beta of 1.18.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.57 by ($1.17). SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The firm had revenue of $319.50 million during the quarter, compared to analyst estimates of $326.70 million. During the same period in the prior year, the company posted $1.63 earnings per share. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. research analysts predict that SL Green Realty Corp will post 6.43 EPS for the current fiscal year.
SL Green Realty announced that its Board of Directors has initiated a share repurchase program on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.8125 dividend. The ex-dividend date is Friday, December 29th. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.17%. SL Green Realty’s dividend payout ratio (DPR) is 300.97%.
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SL Green Realty Profile
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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