ValuEngine upgraded shares of SL Green Realty (NYSE:SLG) from a sell rating to a hold rating in a research note issued to investors on Thursday.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $90.00 price objective on shares of SL Green Realty in a research report on Monday. KeyCorp set a $100.00 price objective on shares of SL Green Realty and gave the company a buy rating in a research report on Thursday, December 20th. Deutsche Bank raised shares of SL Green Realty from a hold rating to a buy rating and boosted their price objective for the company from $114.00 to $118.00 in a research report on Monday, December 10th. TheStreet downgraded shares of SL Green Realty from a b- rating to a c+ rating in a research report on Friday, November 2nd. Finally, SunTrust Banks reaffirmed a hold rating and set a $107.00 price objective on shares of SL Green Realty in a research report on Tuesday, December 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. SL Green Realty currently has an average rating of Hold and a consensus price target of $106.17.
Shares of SL Green Realty stock traded up $0.40 during trading on Thursday, hitting $87.54. The stock had a trading volume of 28,588 shares, compared to its average volume of 842,532. The company has a market cap of $7.28 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 2.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.93 and a quick ratio of 1.93. SL Green Realty has a 1 year low of $76.77 and a 1 year high of $106.54.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, January 2nd will be paid a $0.85 dividend. The ex-dividend date of this dividend is Monday, December 31st. This is a boost from SL Green Realty’s previous quarterly dividend of $0.81. This represents a $3.40 dividend on an annualized basis and a yield of 3.88%. SL Green Realty’s payout ratio is 52.71%.
In other news, CFO Matthew J. Diliberto sold 3,967 shares of the business’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $92.07, for a total value of $365,241.69. Following the completion of the sale, the chief financial officer now directly owns 36,234 shares in the company, valued at $3,336,064.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Holliday sold 110,000 shares of the business’s stock in a transaction on Friday, December 21st. The stock was sold at an average price of $83.23, for a total transaction of $9,155,300.00. The disclosure for this sale can be found here. Insiders sold 203,967 shares of company stock valued at $17,427,192 over the last 90 days. 3.65% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Oakbrook Investments LLC raised its stake in SL Green Realty by 33.6% during the 3rd quarter. Oakbrook Investments LLC now owns 5,013 shares of the real estate investment trust’s stock valued at $489,000 after purchasing an additional 1,262 shares during the last quarter. Bank of Montreal Can raised its stake in SL Green Realty by 48.7% during the 3rd quarter. Bank of Montreal Can now owns 65,378 shares of the real estate investment trust’s stock valued at $6,376,000 after purchasing an additional 21,414 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in SL Green Realty by 34.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 174,411 shares of the real estate investment trust’s stock valued at $17,010,000 after purchasing an additional 44,800 shares during the last quarter. Paloma Partners Management Co acquired a new position in SL Green Realty during the 2nd quarter valued at $3,986,000. Finally, Norinchukin Bank The raised its stake in SL Green Realty by 9.9% during the 3rd quarter. Norinchukin Bank The now owns 11,766 shares of the real estate investment trust’s stock valued at $1,148,000 after purchasing an additional 1,061 shares during the last quarter.
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 September 30, 2018, SL Green held interests in 106 Manhattan buildings totaling 46.4 million square feet.
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