SL Green Realty (SLG) Reaches New 52-Week High at $106.53

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SL Green Realty Corp (NYSE:SLG) hit a new 52-week high during trading on Monday . The stock traded as high as $106.53 and last traded at $105.85, with a volume of 5061 shares traded. The stock had previously closed at $106.07.

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

The company has a debt-to-equity ratio of 0.91, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.22 and a beta of 1.09.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $241.47 million. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company’s revenue was down 24.4% compared to the same quarter last year. analysts predict that SL Green Realty Corp will post 6.75 earnings per share for the current fiscal year.

In other news, President Andrew W. Mathias sold 65,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $105.34, for a total value of $6,847,100.00. Following the completion of the sale, the president now owns 277,720 shares of the company’s stock, valued at $29,255,024.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.65% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Boston Partners boosted its holdings in SL Green Realty by 129.5% in the second quarter. Boston Partners now owns 5,359,391 shares of the real estate investment trust’s stock valued at $538,780,000 after purchasing an additional 3,024,243 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $150,888,000 after purchasing an additional 37,623 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in SL Green Realty by 8.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 962,323 shares of the real estate investment trust’s stock valued at $96,743,000 after purchasing an additional 73,930 shares during the last quarter. Legal & General Group Plc boosted its holdings 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 valued at $84,608,000 after purchasing an additional 31,794 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in SL Green Realty by 10.2% in the second quarter. Russell Investments Group Ltd. now owns 780,199 shares of the real estate investment trust’s stock valued at $78,519,000 after purchasing an additional 72,459 shares during the last quarter.

About SL Green Realty (NYSE:SLG)

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.

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