Commerce Bank Makes New Investment in SL Green Realty Corporation $SLG

Commerce Bank purchased a new stake in shares of SL Green Realty Corporation (NYSE:SLG) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 13,380 shares of the real estate investment trust’s stock, valued at approximately $693,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Integrity Alliance LLC. increased its stake in SL Green Realty by 4.1% in the 4th quarter. Integrity Alliance LLC. now owns 5,970 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 237 shares during the period. Empowered Funds LLC increased its position in SL Green Realty by 6.2% during the 4th quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 361 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of SL Green Realty by 30.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 378 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of SL Green Realty by 3.3% in the 4th quarter. ProShare Advisors LLC now owns 13,970 shares of the real estate investment trust’s stock valued at $641,000 after purchasing an additional 442 shares in the last quarter. Finally, Fourth Dimension Wealth LLC lifted its position in shares of SL Green Realty by 45.5% in the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Insiders Place Their Bets

In other news, insider Harrison Sitomer sold 23,113 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the transaction, the insider directly owned 109,468 shares in the company, valued at $6,317,398.28. The trade was a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLG. LADENBURG THALM/SH SH lifted their price target on SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Wells Fargo & Company increased their price objective on shares of SL Green Realty from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Weiss Ratings upgraded SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. BMO Capital Markets restated an “outperform” rating and set a $60.00 price objective (up from $52.00) on shares of SL Green Realty in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of SL Green Realty from $51.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $56.20.

SL Green Realty Stock Down 1.7%

Shares of NYSE SLG opened at $58.83 on Thursday. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29. The company’s 50-day simple moving average is $53.28 and its 200-day simple moving average is $45.69. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.05. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -21.55, a price-to-earnings-growth ratio of 2.63 and a beta of 1.58.

SL Green Realty (NYSE:SLG) last announced its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. The business had revenue of $264.00 million during the quarter, compared to analysts’ expectations of $179.01 million. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Equities analysts predict that SL Green Realty Corporation will post 5.44 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.6175 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.2%. SL Green Realty’s payout ratio is presently -90.48%.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.