SL Green Realty (NYSE:SLG) Insider Andrew Levine Sells 1,493 Shares

SL Green Realty Corporation (NYSE:SLG) insider Andrew 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 value of $67,588.11. Following the completion of the transaction, the insider directly owned 7,045 shares in the company, valued at $318,927.15. The trade was a 17.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SL Green Realty Trading Down 1.4%

Shares of SL Green Realty stock opened at $44.45 on Wednesday. SL Green Realty Corporation has a 1-year low of $40.26 and a 1-year high of $69.65. The company’s fifty day simple moving average is $47.94 and its 200-day simple moving average is $55.66. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market capitalization of $3.17 billion, a PE ratio of 4,449.45 and a beta of 1.61.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.The company had revenue of $244.82 million during the quarter, compared to the consensus estimate of $170.27 million. During the same period in the previous year, the company posted $1.26 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were issued a dividend of $0.2575 per share. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, November 28th. SL Green Realty’s dividend payout ratio is 30,900.00%.

Institutional Investors Weigh In On SL Green Realty

Institutional investors and hedge funds have recently modified their holdings of the business. Quent Capital LLC purchased a new position in SL Green Realty during the 3rd quarter valued at $27,000. Salomon & Ludwin LLC purchased a new stake in shares of SL Green Realty during the third quarter valued at $29,000. Whittier Trust Co. purchased a new stake in shares of SL Green Realty during the third quarter valued at $29,000. Bessemer Group Inc. grew its holdings in shares of SL Green Realty by 67.8% in the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 253 shares during the last quarter. Finally, Triumph Capital Management purchased a new position in SL Green Realty in the 3rd quarter worth about $45,000. 89.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SLG. Piper Sandler reaffirmed an “overweight” rating on shares of SL Green Realty in a report on Wednesday, December 3rd. LADENBURG THALM/SH SH lowered their price objective on SL Green Realty from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, December 18th. UBS Group set a $47.00 target price on SL Green Realty in a report on Monday, December 8th. Mizuho lowered their price target on SL Green Realty from $67.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and a consensus price target of $57.00.

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.