CIBC World Markets Inc. Takes Position in SL Green Realty Corp (SLG)

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CIBC World Markets Inc. bought a new position in SL Green Realty Corp (NYSE:SLG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,693 shares of the real estate investment trust’s stock, valued at approximately $773,000.

A number of other hedge funds have also recently added to or reduced their stakes in SLG. Boston Partners grew its stake in SL Green Realty by 129.5% in the 2nd quarter. Boston Partners now owns 5,359,391 shares of the real estate investment trust’s stock worth $538,780,000 after acquiring an additional 3,024,243 shares during the period. JPMorgan Chase & Co. grew its stake in SL Green Realty by 158.7% in the 1st quarter. JPMorgan Chase & Co. now owns 588,950 shares of the real estate investment trust’s stock worth $57,027,000 after acquiring an additional 361,279 shares during the period. Nuveen Asset Management LLC grew its stake in SL Green Realty by 352.2% in the 1st quarter. Nuveen Asset Management LLC now owns 188,005 shares of the real estate investment trust’s stock worth $18,205,000 after acquiring an additional 146,426 shares during the period. Madison International Realty Holdings LLC grew its stake in SL Green Realty by 25.7% in the 1st quarter. Madison International Realty Holdings LLC now owns 646,723 shares of the real estate investment trust’s stock worth $62,622,000 after acquiring an additional 132,066 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in SL Green Realty by 83.7% in the 1st quarter. Allianz Asset Management GmbH now owns 226,946 shares of the real estate investment trust’s stock worth $21,975,000 after acquiring an additional 103,371 shares during the period.

Shares of SLG opened at $104.38 on Thursday. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 3.20 and a beta of 1.09. SL Green Realty Corp has a fifty-two week low of $89.46 and a fifty-two week high of $106.54. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.91.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, July 18th. The real estate investment trust reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. The company had revenue of $301.10 million for the quarter, compared to analyst estimates of $241.47 million. SL Green Realty had a net margin of 21.45% and a return on equity of 4.24%. SL Green Realty’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. sell-side analysts forecast that SL Green Realty Corp will post 6.75 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the stock. Deutsche Bank lifted their price target on shares of SL Green Realty from $111.00 to $114.00 and gave the company a “hold” rating in a report on Wednesday. TheStreet upgraded shares of SL Green Realty from a “c+” rating to a “b-” rating in a report on Friday, August 10th. ValuEngine upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. BMO Capital Markets reiterated a “$100.62” rating and issued a $115.00 price target on shares of SL Green Realty in a report on Wednesday, July 18th. Finally, Citigroup decreased their price target on shares of SL Green Realty from $118.00 to $116.00 and set a “buy” rating on the stock in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $110.54.

In related news, President Andrew W. Mathias sold 65,000 shares of SL Green Realty stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $105.34, for a total transaction of $6,847,100.00. Following the transaction, the president now owns 277,720 shares in the company, valued at approximately $29,255,024.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.65% of the company’s stock.

About SL Green Realty

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

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