SL Green Realty (NYSE:SLG) Insider Harrison Sitomer Sells 16,887 Shares of Stock

SL Green Realty Corporation (NYSE:SLG) insider Harrison Sitomer sold 16,887 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $58.52, for a total value of $988,227.24. Following the completion of the sale, the insider owned 132,581 shares of the company’s stock, valued at $7,758,640.12. This represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Harrison Sitomer also recently made the following trade(s):

• On Friday, August 21st, Harrison Sitomer sold 23,113 shares of SL Green Realty stock. The stock was sold at an average price of $57.71, for a total value of $1,333,851.23.

SL Green Realty Stock Up 2.0%

Shares of SLG stock traded up $1.13 on Monday, hitting $58.58. The stock had a trading volume of 871,897 shares, compared to its average volume of 1,233,333. 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 business has a 50 day moving average price of $52.76 and a 200 day moving average price of $45.34. The company has a market cap of $4.17 billion, a PE ratio of -21.46, a P/E/G ratio of 2.52 and a beta of 1.58. SL Green Realty Corporation has a one year low of $34.77 and a one year high of $66.29.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The company had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. During the same period in the prior year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Research analysts anticipate that SL Green Realty Corporation will post 5.44 earnings per share 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. Stockholders of record on Tuesday, June 30th were given a $0.6175 dividend. This represents a $2.47 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Tuesday, June 30th. SL Green Realty’s dividend payout ratio is presently -90.48%.

Institutional Investors Weigh In On SL Green Realty

Several institutional investors have recently bought and sold shares of the company. Triumph Capital Management purchased a new position in SL Green Realty in the third quarter worth $45,000. Davis Capital Management purchased a new stake in shares of SL Green Realty during the 1st quarter valued at $46,000. Global Retirement Partners LLC purchased a new stake in shares of SL Green Realty during the 2nd quarter valued at $53,000. Fourth Dimension Wealth LLC boosted 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 in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after buying an additional 378 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler set a $79.00 price objective on shares of SL Green Realty and gave the company an “overweight” rating in a report on Friday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of SL Green Realty in a research report on Monday, July 27th. Scotiabank lifted their price target on SL Green Realty from $56.00 to $60.00 and gave the company a “sector outperform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, UBS Group set a $60.00 price target on SL Green Realty in a research report on Monday, July 27th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.70.

About SL Green Realty

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.