American International Group Inc. Purchases 1,405 Shares of SL Green Realty Corp (SLG)
American International Group Inc. increased its position in SL Green Realty Corp (NYSE:SLG) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,327 shares of the real estate investment trust’s stock after acquiring an additional 1,405 shares during the quarter. American International Group Inc.’s holdings in SL Green Realty were worth $3,055,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oakbrook Investments LLC increased its holdings in SL Green Realty by 33.6% in the 3rd quarter. Oakbrook Investments LLC now owns 5,013 shares of the real estate investment trust’s stock worth $489,000 after acquiring an additional 1,262 shares during the last quarter. Twin Capital Management Inc. increased its holdings in SL Green Realty by 40.4% in the 2nd quarter. Twin Capital Management Inc. now owns 23,664 shares of the real estate investment trust’s stock worth $2,379,000 after acquiring an additional 6,814 shares during the last quarter. Paloma Partners Management Co purchased a new stake in SL Green Realty in the 2nd quarter worth about $3,986,000. Bank of Montreal Can increased its holdings in SL Green Realty by 48.7% in the 3rd quarter. Bank of Montreal Can now owns 65,378 shares of the real estate investment trust’s stock worth $6,376,000 after acquiring an additional 21,414 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in SL Green Realty in the 3rd quarter worth about $1,250,000.
Several equities research analysts recently weighed in on SLG shares. JPMorgan Chase & Co. lowered SL Green Realty from an “overweight” rating to a “neutral” rating in a report on Friday, October 5th. ValuEngine raised SL Green Realty from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. TheStreet lowered SL Green Realty from a “b-” rating to a “c+” rating in a report on Friday, November 2nd. Robert W. Baird lowered SL Green Realty from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $109.00 to $103.00 in a report on Tuesday, October 23rd. Finally, Scotiabank started coverage on SL Green Realty in a report on Tuesday, October 16th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. SL Green Realty has a consensus rating of “Hold” and a consensus price target of $108.27.
SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, October 17th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.66). The company had revenue of $250.87 million for the quarter, compared to analysts’ expectations of $242.18 million. SL Green Realty had a net margin of 26.46% and a return on equity of 5.05%. The firm’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 EPS. Sell-side analysts expect that SL Green Realty Corp will post 6.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Monday, December 31st. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.81. SL Green Realty’s payout ratio is presently 50.39%.
In other news, CFO Matthew J. Diliberto sold 3,967 shares of SL Green Realty stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $92.07, for a total transaction of $365,241.69. Following the completion of the sale, the chief financial officer now owns 36,234 shares in the company, valued at approximately $3,336,064.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew J. Diliberto sold 35,000 shares of SL Green Realty stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $92.27, for a total value of $3,229,450.00. Following the sale, the chief financial officer now owns 36,234 shares of the company’s stock, valued at approximately $3,343,311.18. The disclosure for this sale can be found here. Company insiders own 3.65% of the company’s stock.
SL Green Realty Company Profile
SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.
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