Amundi Pioneer Asset Management Inc. raised its stake in shares of SL Green Realty Corp (NYSE:SLG) by 49.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 391,578 shares of the real estate investment trust’s stock after acquiring an additional 129,017 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in SL Green Realty were worth $39,522,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLG. Long Pond Capital LP raised its stake in shares of SL Green Realty by 60.3% during the 3rd quarter. Long Pond Capital LP now owns 2,740,082 shares of the real estate investment trust’s stock valued at $277,625,000 after buying an additional 1,031,232 shares during the last quarter. Capital Growth Management LP purchased a new position in shares of SL Green Realty during the 4th quarter valued at about $48,446,000. Security Capital Research & Management Inc. raised its stake in shares of SL Green Realty by 1,101.6% during the 4th quarter. Security Capital Research & Management Inc. now owns 213,704 shares of the real estate investment trust’s stock valued at $21,569,000 after buying an additional 195,919 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of SL Green Realty by 71.1% during the 4th quarter. Alliancebernstein L.P. now owns 402,328 shares of the real estate investment trust’s stock valued at $40,607,000 after buying an additional 167,207 shares during the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of SL Green Realty during the 3rd quarter valued at about $14,564,000. Institutional investors and hedge funds own 98.50% of the company’s stock.
In other SL Green Realty news, Director Craig M. Hatkoff sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $93.73, for a total transaction of $318,682.00. Following the completion of the sale, the director now directly owns 1,365 shares in the company, valued at approximately $127,941.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Marc Holliday sold 160,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total value of $16,100,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 169,400 shares of company stock valued at $17,038,862. 3.09% of the stock is owned by company insiders.
SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.60. SL Green Realty had a return on equity of 1.38% and a net margin of 6.71%. The company had revenue of $361.30 million during the quarter, compared to analyst estimates of $320.48 million. During the same period in the previous year, the business earned $1.43 EPS. SL Green Realty’s quarterly revenue was down 3.4% on a year-over-year basis. equities analysts anticipate that SL Green Realty Corp will post 6.75 earnings per share for the current year.
SL Green Realty announced that its board has approved a stock buyback 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 repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several equities analysts recently weighed in on SLG shares. SunTrust Banks set a $117.00 price target on SL Green Realty and gave the company a “buy” rating in a research note on Tuesday, December 5th. BTIG Research upgraded SL Green Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BMO Capital Markets restated a “buy” rating and issued a $125.00 price target on shares of SL Green Realty in a research note on Wednesday, November 22nd. ValuEngine lowered SL Green Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Evercore ISI lowered SL Green Realty from an “in-line” rating to an “underperform” rating in a research note on Monday, March 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $114.25.
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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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