Long Pond Capital LP Acquires 590,642 Shares of SL Green Realty Corp (NYSE:SLG)
Long Pond Capital LP boosted its holdings in shares of SL Green Realty Corp (NYSE:SLG) by 108.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,136,853 shares of the real estate investment trust’s stock after buying an additional 590,642 shares during the quarter. SL Green Realty accounts for 2.7% of Long Pond Capital LP’s investment portfolio, making the stock its 9th largest position. Long Pond Capital LP owned approximately 1.38% of SL Green Realty worth $91,369,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SLG. Marshall Wace North America L.P. purchased a new position in shares of SL Green Realty in the 1st quarter valued at $72,000. Pearl River Capital LLC purchased a new position in shares of SL Green Realty in the 2nd quarter valued at $125,000. Quantamental Technologies LLC purchased a new position in shares of SL Green Realty in the 2nd quarter valued at $215,000. Candriam Luxembourg S.C.A. grew its position in shares of SL Green Realty by 20.7% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 3,696 shares of the real estate investment trust’s stock valued at $296,000 after buying an additional 635 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in shares of SL Green Realty in the 2nd quarter valued at $358,000. Institutional investors own 99.90% of the company’s stock.
A number of research analysts recently commented on SLG shares. Zacks Investment Research raised shares of SL Green Realty from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Wednesday. Scotiabank downgraded shares of SL Green Realty from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $96.00 to $84.00 in a research report on Friday, August 16th. Citigroup dropped their target price on shares of SL Green Realty from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Robert W. Baird set a $92.00 target price on shares of SL Green Realty and gave the company a “hold” rating in a research report on Wednesday, August 21st. Finally, ValuEngine downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $93.34.
SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.21. SL Green Realty had a net margin of 19.88% and a return on equity of 3.99%. The company had revenue of $244.96 million for the quarter, compared to the consensus estimate of $241.61 million. During the same period last year, the firm posted $1.69 EPS. SL Green Realty’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts expect that SL Green Realty Corp will post 6.92 earnings per share for the current year.
In other SL Green Realty news, Director Edwin T. Burton III sold 7,000 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $81.00, for a total transaction of $567,000.00. Following the transaction, the director now directly owns 292 shares of the company’s stock, valued at approximately $23,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.99% 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 March 31, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.
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