Delphi Management Inc. MA Invests $750,000 in SL Green Realty Corp (SLG) Stock

Delphi Management Inc. MA acquired a new position in SL Green Realty Corp (NYSE:SLG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,400 shares of the real estate investment trust’s stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLG. Capital Investment Counsel Inc purchased a new stake in SL Green Realty in the 3rd quarter worth approximately $213,000. BB&T Securities LLC purchased a new stake in SL Green Realty in the 2nd quarter worth approximately $226,000. Pacer Advisors Inc. lifted its holdings in SL Green Realty by 9.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 203 shares during the period. TLP Group LLC purchased a new stake in SL Green Realty in the 2nd quarter worth approximately $260,000. Finally, Global X Management Co. LLC lifted its holdings in SL Green Realty by 14.9% in the 2nd quarter. Global X Management Co. LLC now owns 2,466 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 320 shares during the period.

Shares of SL Green Realty Corp (NYSE:SLG) traded down $0.12 during trading hours on Thursday, hitting $102.90. The stock had a trading volume of 699,400 shares, compared to its average volume of 751,423. SL Green Realty Corp has a 12-month low of $93.92 and a 12-month high of $115.34. The company has a market cap of $10,123.33, a price-to-earnings ratio of 16.43, a P/E/G ratio of 2.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.11 and a quick ratio of 0.11.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($1.17). SL Green Realty had a return on equity of 1.54% and a net margin of 7.70%. The firm had revenue of $319.50 million during the quarter, compared to the consensus estimate of $326.70 million. During the same period in the prior year, the company posted $1.63 EPS. The firm’s revenue was down 4.5% on a year-over-year basis. analysts forecast that SL Green Realty Corp will post 6.44 earnings per share for the current fiscal year.

SL Green Realty declared that its board has authorized a share buyback plan on Friday, December 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, December 29th. This is a positive change from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio (DPR) is 300.97%.

Several equities research analysts have weighed in on SLG shares. Citigroup dropped their price objective on SL Green Realty from $125.00 to $123.00 and set a “buy” rating for the company in a report on Monday, October 23rd. SunTrust Banks set a $115.00 price objective on SL Green Realty and gave the stock a “buy” rating in a report on Saturday, October 21st. BMO Capital Markets reiterated a “buy” rating and issued a $125.00 price objective on shares of SL Green Realty in a report on Thursday, October 19th. KeyCorp reiterated a “buy” rating and issued a $130.00 price objective on shares of SL Green Realty in a report on Tuesday, September 26th. Finally, BTIG Research raised SL Green Realty from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $115.62.

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SL Green Realty 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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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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