SL Green Realty Corp (SLG) Shares Bought by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. boosted its holdings in SL Green Realty Corp (NYSE:SLG) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,503 shares of the real estate investment trust’s stock after purchasing an additional 604 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.07% of SL Green Realty worth $6,738,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of SL Green Realty by 9.2% in the third quarter. Toronto Dominion Bank now owns 37,660 shares of the real estate investment trust’s stock valued at $3,816,000 after buying an additional 3,178 shares during the period. Swiss National Bank raised its stake in shares of SL Green Realty by 2.3% in the third quarter. Swiss National Bank now owns 375,200 shares of the real estate investment trust’s stock valued at $38,015,000 after buying an additional 8,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of SL Green Realty by 32.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,650 shares of the real estate investment trust’s stock valued at $5,041,000 after buying an additional 11,735 shares during the period. Artemis Investment Management LLP raised its stake in shares of SL Green Realty by 117.9% in the third quarter. Artemis Investment Management LLP now owns 168,205 shares of the real estate investment trust’s stock valued at $17,040,000 after buying an additional 91,007 shares during the period. Finally, Honeywell International Inc. raised its stake in shares of SL Green Realty by 27.8% in the third quarter. Honeywell International Inc. now owns 33,790 shares of the real estate investment trust’s stock valued at $3,424,000 after buying an additional 7,340 shares during the period.
Several analysts have issued reports on the company. SunTrust Banks set a $115.00 target price on SL Green Realty and gave the company a “buy” rating in a research note on Saturday, October 21st. Barclays lowered their target price on SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. KeyCorp restated a “buy” rating and issued a $130.00 target price on shares of SL Green Realty in a research note on Tuesday, September 26th. BMO Capital Markets restated a “buy” rating and issued a $125.00 target price on shares of SL Green Realty in a research note on Wednesday, October 25th. Finally, Robert W. Baird boosted their target price on SL Green Realty from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $115.62.
SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $319.50 million for the quarter, compared to the consensus estimate of $326.70 million. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. sell-side analysts predict that SL Green Realty Corp will post 6.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.16%. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, December 29th. SL Green Realty’s payout ratio is presently 300.97%.
SL Green Realty declared that its Board of Directors has authorized a share repurchase program on Friday, December 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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About SL Green Realty
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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