Pensionfund DSM Netherlands trimmed its position in SL Green Realty Corp. (NYSE:SLG) by 57.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 19,639 shares of the real estate investment trust’s stock after selling 26,484 shares during the period. Pensionfund DSM Netherlands’ holdings in SL Green Realty were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Phocas Financial Corp. grew its holdings in shares of SL Green Realty by 1.3% during the 4th quarter. Phocas Financial Corp. now owns 14,455 shares of the real estate investment trust’s stock worth $861,000 after purchasing an additional 189 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of SL Green Realty by 1.6% during the 4th quarter. Lido Advisors LLC now owns 13,653 shares of the real estate investment trust’s stock worth $840,000 after purchasing an additional 220 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of SL Green Realty by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 71,149 shares of the real estate investment trust’s stock worth $4,239,000 after purchasing an additional 308 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of SL Green Realty by 0.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 61,892 shares of the real estate investment trust’s stock worth $3,688,000 after buying an additional 417 shares during the last quarter. Finally, NEXT Financial Group Inc bought a new stake in shares of SL Green Realty during the 4th quarter worth $25,000. 99.58% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on SLG shares. Smith Barney Citigroup upped their price objective on SL Green Realty from $49.00 to $63.00 in a research report on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price objective on SL Green Realty from $49.00 to $63.00 in a research report on Tuesday, December 15th. Finally, Morgan Stanley raised their price objective on SL Green Realty from $55.00 to $58.25 and gave the stock an “equal weight” rating in a research report on Thursday, January 21st. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. SL Green Realty currently has an average rating of “Hold” and a consensus price target of $63.77.
SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Tuesday, January 26th. The real estate investment trust reported $2.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.87. SL Green Realty had a return on equity of 3.99% and a net margin of 19.32%. The firm had revenue of $190.39 million during the quarter, compared to analysts’ expectations of $191.02 million. During the same quarter last year, the firm posted $1.75 earnings per share. The company’s revenue for the quarter was down 24.0% compared to the same quarter last year. Research analysts forecast that SL Green Realty Corp. will post 7.08 EPS for the current year.
The company also recently disclosed a mar 21 dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be paid a $0.3033 dividend. The ex-dividend date is Tuesday, March 30th. This represents a yield of 4.8%. SL Green Realty’s dividend payout ratio (DPR) is presently 52.00%.
In other SL Green Realty news, President Andrew W. Mathias sold 5,928 shares of the firm’s stock in a transaction that occurred on Thursday, February 11th. The stock was sold at an average price of $65.00, for a total value of $385,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.99% of the company’s stock.
About SL Green Realty
SL Green Realty Corp., an S&P 500 company and Manhattan'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 December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.
Further Reading: Market Perform
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