Insider Selling: SL Green Realty Corp (SLG) Director Sells 3,400 Shares of Stock
SL Green Realty Corp (NYSE:SLG) Director Craig M. Hatkoff sold 3,400 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total transaction of $318,682.00. Following the sale, the director now owns 1,365 shares of the company’s stock, valued at approximately $127,941.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
SL Green Realty Corp (NYSE:SLG) traded up $0.15 during mid-day trading on Friday, reaching $90.76. 249,420 shares of the company’s stock traded hands, compared to its average volume of 1,067,793. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.51. SL Green Realty Corp has a 52-week low of $90.23 and a 52-week high of $115.34. The company has a market cap of $8,900.00, a price-to-earnings ratio of 108.45, a P/E/G ratio of 2.29 and a beta of 1.12.
SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, meeting the consensus estimate of $1.60. SL Green Realty had a net margin of 6.71% and a return on equity of 1.42%. The firm had revenue of $361.30 million for the quarter, compared to analyst estimates of $320.48 million. During the same period last year, the firm earned $1.43 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. equities research analysts forecast that SL Green Realty Corp will post 6.74 EPS for the current fiscal year.
SL Green Realty announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of analysts have recently issued reports on SLG shares. Zacks Investment Research cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Citigroup cut their target price on shares of SL Green Realty from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Monday, October 23rd. KeyCorp set a $130.00 target price on shares of SL Green Realty and gave the stock a “buy” rating in a research note on Sunday, October 29th. SunTrust Banks set a $115.00 target price on shares of SL Green Realty and gave the stock a “buy” rating in a research note on Saturday, October 21st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $125.00 price target on shares of SL Green Realty in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $114.83.
Institutional investors have recently made changes to their positions in the stock. Capital Investment Counsel Inc bought a new stake in shares of SL Green Realty during the 3rd quarter valued at approximately $213,000. American Investment Services Inc. bought a new stake in shares of SL Green Realty during the 4th quarter valued at approximately $240,000. Cubist Systematic Strategies LLC bought a new stake in shares of SL Green Realty during the 3rd quarter valued at approximately $270,000. Everence Capital Management Inc. bought a new stake in shares of SL Green Realty during the 4th quarter valued at approximately $281,000. Finally, Koch Industries Inc. bought a new stake in shares of SL Green Realty during the 2nd quarter valued at approximately $316,000.
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SL Green Realty Company 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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