SL Green Realty Corporation $SLG Stock Holdings Lowered by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its position in SL Green Realty Corporation (NYSE:SLG) by 16.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 356,292 shares of the real estate investment trust’s stock after selling 68,336 shares during the quarter. Allianz Asset Management GmbH’s holdings in SL Green Realty were worth $21,310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of SL Green Realty by 1.0% in the second quarter. State Street Corp now owns 4,257,874 shares of the real estate investment trust’s stock valued at $264,636,000 after purchasing an additional 41,873 shares during the period. Geode Capital Management LLC grew its holdings in SL Green Realty by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,833,682 shares of the real estate investment trust’s stock worth $113,518,000 after buying an additional 6,690 shares in the last quarter. Prudential Financial Inc. increased its position in SL Green Realty by 104.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,622,594 shares of the real estate investment trust’s stock valued at $100,439,000 after acquiring an additional 827,407 shares during the period. Norges Bank bought a new stake in SL Green Realty during the 2nd quarter valued at $55,947,000. Finally, Bank of New York Mellon Corp boosted its position in SL Green Realty by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 632,463 shares of the real estate investment trust’s stock worth $39,149,000 after acquiring an additional 21,853 shares during the period. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $43.79 on Friday. The stock’s fifty day simple moving average is $45.66 and its 200 day simple moving average is $51.94. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -27.20 and a beta of 1.63. The company has a quick ratio of 3.22, a current ratio of 2.66 and a debt-to-equity ratio of 1.06. SL Green Realty Corporation has a 52-week low of $40.26 and a 52-week high of $67.21.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. The business had revenue of $159.82 million during the quarter, compared to analyst estimates of $162.73 million. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.SL Green Realty’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $1.81 EPS. As a group, sell-side analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a $0.2575 dividend. The ex-dividend date was Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. SL Green Realty’s dividend payout ratio is presently -191.93%.

Analyst Ratings Changes

SLG has been the topic of a number of research analyst reports. BTIG Research lowered their price target on SL Green Realty from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday. BMO Capital Markets lowered their target price on shares of SL Green Realty from $63.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, December 8th. The Goldman Sachs Group set a $37.00 price target on shares of SL Green Realty in a research report on Friday. LADENBURG THALM/SH SH lowered their price objective on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, December 18th. Finally, Wells Fargo & Company cut their target price on SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.30.

Insider Activity

In other SL Green Realty news, insider Andrew S. Levine sold 1,493 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the completion of the sale, the insider directly owned 7,045 shares in the company, valued at approximately $318,927.15. This trade represents a 17.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc Holliday sold 22,223 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total transaction of $986,701.20. Following the sale, the chief executive officer owned 9,698 shares of the company’s stock, valued at approximately $430,591.20. This represents a 69.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.04% of the stock is currently owned by corporate insiders.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.