Nationwide Fund Advisors Sells 139,274 Shares of SL Green Realty Corp (SLG)

Nationwide Fund Advisors cut its holdings in shares of SL Green Realty Corp (NYSE:SLG) by 83.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,289 shares of the real estate investment trust’s stock after selling 139,274 shares during the quarter. Nationwide Fund Advisors’ holdings in SL Green Realty were worth $2,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BB&T Securities LLC acquired a new stake in shares of SL Green Realty during the 2nd quarter worth approximately $226,000. Pacer Advisors Inc. boosted its position in shares of SL Green Realty by 9.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock worth $260,000 after acquiring an additional 203 shares in the last quarter. TLP Group LLC acquired a new stake in shares of SL Green Realty during the 2nd quarter worth approximately $260,000. Global X Management Co. LLC boosted its position in shares of SL Green Realty by 14.9% during 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 acquiring an additional 320 shares in the last quarter. Finally, Keybank National Association OH boosted its position in shares of SL Green Realty by 2.3% during the 2nd quarter. Keybank National Association OH now owns 3,533 shares of the real estate investment trust’s stock worth $374,000 after acquiring an additional 79 shares in the last quarter.

In other news, Director John S. Levy sold 6,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $103.23, for a total transaction of $619,380.00. Following the completion of the transaction, the director now owns 21,827 shares of the company’s stock, valued at $2,253,201.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.99% of the stock is currently owned by company insiders.

Several analysts recently issued reports on SLG shares. Stifel Nicolaus reduced their price target on shares of SL Green Realty from $112.00 to $105.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Zacks Investment Research upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Morgan Stanley reiterated an “equal weight” rating and set a $104.00 price target (down previously from $106.00) on shares of SL Green Realty in a research report on Friday, September 1st. BMO Capital Markets reduced their price target on shares of SL Green Realty from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 21st. Finally, KeyCorp restated a “buy” rating and issued a $130.00 target price on shares of SL Green Realty in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $115.62.

SL Green Realty Corp (SLG) opened at $101.62 on Wednesday. The stock has a market cap of $10,143.97, a price-to-earnings ratio of 16.46, a PEG ratio of 2.67 and a beta of 1.18. SL Green Realty Corp has a 52 week low of $93.92 and a 52 week high of $115.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.11 and a current ratio of 0.11.

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

SL Green Realty declared that its Board of Directors has authorized a share repurchase program on Friday, December 1st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.8125 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $3.25 annualized dividend and a dividend yield of 3.20%. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. SL Green Realty’s dividend payout ratio (DPR) is presently 300.97%.

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SL Green Realty Company 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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