Aberdeen Group plc Has $17.30 Million Stock Holdings in SL Green Realty Corporation $SLG

Aberdeen Group plc increased its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 95.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 288,709 shares of the real estate investment trust’s stock after buying an additional 141,263 shares during the period. Aberdeen Group plc’s holdings in SL Green Realty were worth $17,302,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SLG. Quent Capital LLC bought a new stake in shares of SL Green Realty during the third quarter worth approximately $27,000. Salomon & Ludwin LLC bought a new stake in SL Green Realty in the 3rd quarter valued at $29,000. Whittier Trust Co. bought a new stake in SL Green Realty in the 3rd quarter valued at $29,000. Bessemer Group Inc. grew its holdings in SL Green Realty by 67.8% in the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 253 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its position in SL Green Realty by 12,114.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 848 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Performance

Shares of SL Green Realty stock opened at $39.30 on Thursday. The company has a current ratio of 2.66, a quick ratio of 3.22 and a debt-to-equity ratio of 1.06. The company has a market cap of $2.80 billion, a PE ratio of -24.41 and a beta of 1.63. The company has a 50 day moving average of $45.07 and a 200-day moving average of $50.87. SL Green Realty Corporation has a 1-year low of $36.12 and a 1-year high of $66.91.

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

Insider Activity

In other news, insider Andrew S. Levine sold 1,493 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the transaction, the insider owned 7,045 shares of the company’s stock, valued at approximately $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Holliday sold 22,223 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the sale, the chief executive officer owned 9,698 shares in the company, valued at approximately $430,591.20. The trade was a 69.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of recent research reports. BMO Capital Markets reduced their target price on shares of SL Green Realty from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, December 8th. Truist Financial set a $44.00 price objective on shares of SL Green Realty in a report on Tuesday, February 3rd. Raymond James Financial set a $44.00 target price on shares of SL Green Realty in a report on Tuesday, February 3rd. Barclays set a $54.00 price target on shares of SL Green Realty in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. reduced their price target on SL Green Realty from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $54.30.

About SL Green Realty

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.