Los Angeles Capital Management & Equity Research Inc. Invests $798,000 in SL Green Realty Corp (SLG)

Share on StockTwits

Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of SL Green Realty Corp (NYSE:SLG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,936 shares of the real estate investment trust’s stock, valued at approximately $798,000.

Several other institutional investors have also made changes to their positions in SLG. Boston Partners grew its stake in SL Green Realty by 2.3% in the first quarter. Boston Partners now owns 2,335,148 shares of the real estate investment trust’s stock worth $226,112,000 after purchasing an additional 52,143 shares during the period. Dimensional Fund Advisors LP grew its stake in SL Green Realty by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,558,273 shares of the real estate investment trust’s stock worth $150,888,000 after purchasing an additional 37,623 shares during the period. Legal & General Group Plc grew its stake in SL Green Realty by 3.8% in the first quarter. Legal & General Group Plc now owns 873,641 shares of the real estate investment trust’s stock worth $84,608,000 after purchasing an additional 31,794 shares during the period. Russell Investments Group Ltd. grew its stake in SL Green Realty by 8.5% in the first quarter. Russell Investments Group Ltd. now owns 707,740 shares of the real estate investment trust’s stock worth $68,566,000 after purchasing an additional 55,404 shares during the period. Finally, Madison International Realty Holdings LLC grew its stake in SL Green Realty by 25.7% in the first quarter. Madison International Realty Holdings LLC now owns 646,723 shares of the real estate investment trust’s stock worth $62,622,000 after purchasing an additional 132,066 shares during the period.

Several brokerages recently weighed in on SLG. TheStreet raised SL Green Realty from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. ValuEngine raised SL Green Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Citigroup reduced their price target on SL Green Realty from $118.00 to $116.00 and set a “buy” rating on the stock in a research note on Tuesday, July 24th. BMO Capital Markets reaffirmed a “$100.62” rating and issued a $115.00 price target on shares of SL Green Realty in a research note on Wednesday, July 18th. Finally, Morgan Stanley reduced their price target on SL Green Realty from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. SL Green Realty currently has an average rating of “Hold” and a consensus target price of $110.25.

NYSE SLG opened at $105.86 on Monday. SL Green Realty Corp has a 12 month low of $89.46 and a 12 month high of $106.35. The firm has a market capitalization of $8.99 billion, a PE ratio of 16.41, a P/E/G ratio of 3.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.73 and a current ratio of 2.73.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. SL Green Realty had a return on equity of 4.24% and a net margin of 21.45%. The firm had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $241.47 million. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down 24.4% 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.

In other news, President Andrew W. Mathias sold 65,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the transaction, the president now directly owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.65% of the company’s stock.

SL Green Realty Profile

SL Green Realty Corp., an S&P 500 company and New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

Want to see what other hedge funds are holding SLG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SL Green Realty Corp (NYSE:SLG).

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

Receive News & Ratings for SL Green Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SL Green Realty and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply