Rhumbline Advisers Sells 13,090 Shares of SL Green Realty Corporation $SLG

Rhumbline Advisers trimmed its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,958 shares of the real estate investment trust’s stock after selling 13,090 shares during the period. Rhumbline Advisers’ holdings in SL Green Realty were worth $13,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC bought a new position in SL Green Realty during the 3rd quarter worth about $27,000. Salomon & Ludwin LLC acquired a new position in shares of SL Green Realty during the third quarter worth about $29,000. Whittier Trust Co. bought a new position in shares of SL Green Realty during the third quarter worth about $29,000. Bessemer Group Inc. grew its holdings in shares of SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 253 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in SL Green Realty by 12,114.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 855 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 848 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Zacks Research downgraded SL Green Realty from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Evercore set a $54.00 price objective on shares of SL Green Realty and gave the stock an “outperform” rating in a research report on Monday, December 8th. Piper Sandler decreased their target price on shares of SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, January 5th. Morgan Stanley set a $43.00 price target on shares of SL Green Realty in a research note on Thursday, January 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $54.30.

Insider Buying and Selling

In other news, CEO Marc Holliday sold 22,223 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total value of $986,701.20. Following the completion of the sale, the chief executive officer directly owned 9,698 shares of the company’s stock, valued at $430,591.20. This trade represents a 69.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Andrew S. Levine sold 1,493 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $45.27, for a total value of $67,588.11. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.04% of the company’s stock.

SL Green Realty Price Performance

Shares of SLG opened at $39.22 on Friday. The company has a current ratio of 2.66, a quick ratio of 3.22 and a debt-to-equity ratio of 1.05. The company’s fifty day simple moving average is $44.96 and its 200 day simple moving average is $50.79. SL Green Realty Corporation has a 1-year low of $36.12 and a 1-year high of $66.91. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -24.36 and a beta of 1.63.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $159.82 million for the quarter, compared to analysts’ expectations of $162.73 million. During the same period in the prior year, the firm earned $1.81 EPS. SL Green Realty’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Company Profile

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.