Victory Capital Management Inc. Increases Stock Position in SL Green Realty Corporation $SLG

Victory Capital Management Inc. boosted its stake in SL Green Realty Corporation (NYSE:SLG) by 253.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 174,346 shares of the real estate investment trust’s stock after acquiring an additional 125,043 shares during the period. Victory Capital Management Inc.’s holdings in SL Green Realty were worth $10,428,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of SL Green Realty during the second quarter valued at $55,947,000. Prudential Financial Inc. lifted its holdings in SL Green Realty by 104.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,622,594 shares of the real estate investment trust’s stock valued at $100,439,000 after purchasing an additional 827,407 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of SL Green Realty by 663.4% during the second quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust’s stock worth $31,789,000 after buying an additional 446,283 shares in the last quarter. BROOKFIELD Corp ON acquired a new position in shares of SL Green Realty in the second quarter valued at approximately $18,695,000. Finally, American Century Companies Inc. purchased a new position in shares of SL Green Realty during the second quarter valued at approximately $12,841,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Stock Down 2.0%

Shares of NYSE SLG opened at $37.80 on Thursday. The stock has a fifty day moving average price of $43.01 and a 200 day moving average price of $49.16. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a 12-month low of $35.03 and a 12-month high of $66.91. The company has a market cap of $2.70 billion, a P/E ratio of -23.48 and a beta of 1.66.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative return on equity of 2.44% and a negative net margin of 9.66%.The firm had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same quarter in the prior year, the business earned $1.81 EPS. SL Green Realty’s quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

Analyst Ratings Changes

SLG has been the subject of several analyst reports. Citigroup cut their price target on SL Green Realty from $70.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Raymond James Financial set a $44.00 target price on SL Green Realty in a research report on Tuesday, February 3rd. Piper Sandler lowered their price target on SL Green Realty from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, January 5th. UBS Group set a $61.00 price objective on shares of SL Green Realty in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 target price on shares of SL Green Realty in a report on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.80.

Insider Transactions at SL Green Realty

In related news, insider Andrew S. Levine sold 1,493 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.27, for a total value of $67,588.11. Following the sale, the insider directly owned 7,045 shares of the company’s stock, valued at $318,927.15. This represents a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Holliday sold 22,223 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total transaction 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. The trade was a 69.62% decrease in their position. The SEC filing for this sale provides additional information. 5.04% of the stock is currently owned by insiders.

SL Green Realty 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.