Insider Selling: SL Green Realty Corp (SLG) CEO Sells $16,100,800.00 in Stock
SL Green Realty Corp (NYSE:SLG) CEO Marc Holliday sold 160,000 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $100.63, for a total transaction of $16,100,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
SL Green Realty Corp (NYSE SLG) opened at $100.04 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.11 and a current ratio of 0.11. SL Green Realty Corp has a one year low of $93.92 and a one year high of $115.34. The stock has a market cap of $9,920.00, a P/E ratio of 99.05, a PEG ratio of 2.57 and a beta of 1.18.
SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.57 by ($1.17). SL Green Realty had a net margin of 7.70% and a return on equity of 1.54%. The business had revenue of $319.50 million for the quarter, compared to the consensus estimate of $326.70 million. During the same quarter in the prior year, the business posted $1.63 earnings per share. SL Green Realty’s revenue for the quarter was down 4.5% on a year-over-year basis. analysts predict that SL Green Realty Corp will post 6.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.8125 per share. The ex-dividend date is Friday, December 29th. This is an increase from SL Green Realty’s previous quarterly dividend of $0.78. This represents a $3.25 dividend on an annualized basis and a dividend yield of 3.25%. SL Green Realty’s dividend payout ratio (DPR) is currently 306.93%.
A number of equities analysts have commented on SLG shares. SunTrust Banks set a $117.00 target price on shares of SL Green Realty and gave the stock a “buy” rating in a research note on Tuesday, December 5th. BTIG Research upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. BMO Capital Markets restated a “buy” rating and issued a $125.00 target price on shares of SL Green Realty in a research note on Wednesday, November 22nd. Zacks Investment Research upgraded shares of SL Green Realty from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Barclays dropped their target price on shares of SL Green Realty from $111.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. SL Green Realty currently has a consensus rating of “Hold” and an average target price of $115.62.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH boosted its stake in SL Green Realty by 2.3% in the second quarter. Keybank National Association OH now owns 3,533 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 79 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in SL Green Realty by 1.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,565 shares of the real estate investment trust’s stock valued at $800,000 after acquiring an additional 104 shares in the last quarter. GAM Holding AG boosted its stake in SL Green Realty by 1.1% in the second quarter. GAM Holding AG now owns 12,259 shares of the real estate investment trust’s stock valued at $1,297,000 after acquiring an additional 135 shares in the last quarter. Pacer Advisors Inc. boosted its stake in SL Green Realty by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,459 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 203 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its stake in SL Green Realty by 7.1% in the second quarter. Riverhead Capital Management LLC now owns 5,000 shares of the real estate investment trust’s stock valued at $529,000 after acquiring an additional 331 shares in the last quarter.
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About SL Green Realty
SL Green Realty Corp. is a self-managed real estate investment trust (REIT), with in-house capabilities in property management, acquisitions and dispositions, financing, development and redevelopment, construction and leasing. The Company operates through two segments: real estate, and debt and preferred equity investments.
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