Sumitomo Mitsui Trust Holdings Inc. Purchases 41,648 Shares of SL Green Realty Corp (NYSE:SLG)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SL Green Realty Corp (NYSE:SLG) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,529 shares of the real estate investment trust’s stock after purchasing an additional 41,648 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.48% of SL Green Realty worth $32,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Boston Partners raised its position in SL Green Realty by 0.9% during the first quarter. Boston Partners now owns 6,375,454 shares of the real estate investment trust’s stock valued at $573,281,000 after purchasing an additional 58,138 shares during the period. Geode Capital Management LLC raised its position in SL Green Realty by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 1,332,281 shares of the real estate investment trust’s stock valued at $105,202,000 after purchasing an additional 78,771 shares during the period. Long Pond Capital LP raised its position in SL Green Realty by 38.3% during the first quarter. Long Pond Capital LP now owns 546,211 shares of the real estate investment trust’s stock valued at $49,115,000 after purchasing an additional 151,211 shares during the period. OppenheimerFunds Inc. raised its position in SL Green Realty by 4.7% during the first quarter. OppenheimerFunds Inc. now owns 487,217 shares of the real estate investment trust’s stock valued at $43,811,000 after purchasing an additional 22,066 shares during the period. Finally, California Public Employees Retirement System raised its position in SL Green Realty by 8.4% during the first quarter. California Public Employees Retirement System now owns 433,103 shares of the real estate investment trust’s stock valued at $38,945,000 after purchasing an additional 33,672 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

In other news, Director Edwin T. Burton III sold 7,000 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $81.00, for a total value of $567,000.00. Following the sale, the director now directly owns 292 shares in the company, valued at $23,652. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.99% of the company’s stock.

A number of equities research analysts have issued reports on SLG shares. BMO Capital Markets restated a “buy” rating and set a $100.00 price objective on shares of SL Green Realty in a research report on Thursday, April 18th. ValuEngine downgraded SL Green Realty from a “hold” rating to a “sell” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley set a $85.00 price objective on SL Green Realty and gave the company a “sell” rating in a research report on Monday, June 17th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $95.70.

Shares of NYSE SLG opened at $78.01 on Wednesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.65 and a current ratio of 1.91. The business has a 50 day simple moving average of $80.51. SL Green Realty Corp has a fifty-two week low of $75.46 and a fifty-two week high of $106.54. The stock has a market capitalization of $6.43 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 3.26 and a beta of 1.10.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.21. SL Green Realty had a return on equity of 3.99% and a net margin of 19.88%. The firm had revenue of $244.96 million for the quarter, compared to the consensus estimate of $241.61 million. During the same period in the prior year, the business posted $1.69 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that SL Green Realty Corp will post 6.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $3.40 annualized dividend and a dividend yield of 4.36%. SL Green Realty’s payout ratio is 51.36%.

SL Green Realty Company 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, 2019, SL Green held interests in 96 Manhattan buildings totaling 46.4 million square feet.

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

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