Russell Investments Group Ltd. Reduces Position in SL Green Realty Corporation (NYSE:SLG)

Russell Investments Group Ltd. decreased its stake in SL Green Realty Corporation (NYSE:SLG) by 23.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 317,782 shares of the real estate investment trust’s stock after selling 95,180 shares during the period. Russell Investments Group Ltd. owned about 0.32% of SL Green Realty Corporation worth $33,624,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in shares of SL Green Realty Corporation during the first quarter valued at $203,000. Achmea Investment Management B.V. bought a new stake in shares of SL Green Realty Corporation during the first quarter valued at $224,000. OppenheimerFunds Inc. boosted its stake in shares of SL Green Realty Corporation by 13.0% in the first quarter. OppenheimerFunds Inc. now owns 2,136 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 246 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of SL Green Realty Corporation by 35.1% in the first quarter. Global X Management Co. LLC now owns 2,146 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 557 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of SL Green Realty Corporation during the first quarter valued at $232,000.

Shares of SL Green Realty Corporation (NYSE:SLG) traded down 1.03% during mid-day trading on Friday, hitting $99.00. The company had a trading volume of 941,859 shares. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 101.75 and a beta of 1.18. SL Green Realty Corporation has a 52-week low of $93.90 and a 52-week high of $119.91. The firm has a 50-day moving average price of $103.21 and a 200 day moving average price of $106.07.

SL Green Realty Corporation (NYSE:SLG) last issued its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $1.54. SL Green Realty Corporation had a net margin of 7.20% and a return on equity of 1.43%. The business had revenue of $279.41 million during the quarter, compared to analysts’ expectations of $281.40 million. Analysts expect that SL Green Realty Corporation will post $1.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.775 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $3.10 annualized dividend and a yield of 3.13%. SL Green Realty Corporation’s dividend payout ratio is presently 319.59%.

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Several brokerages have weighed in on SLG. Barclays PLC reduced their price objective on SL Green Realty Corporation from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $112.00 target price on shares of SL Green Realty Corporation in a research note on Thursday, August 3rd. BidaskClub cut SL Green Realty Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday. Jefferies Group LLC reaffirmed a “hold” rating and set a $113.00 target price on shares of SL Green Realty Corporation in a research note on Thursday, August 3rd. Finally, UBS AG raised SL Green Realty Corporation from a “neutral” rating to a “buy” rating and set a $117.00 target price on the stock in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $117.62.

In other news, Director John H. Alschuler, Jr. sold 6,000 shares of SL Green Realty Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $106.74, for a total transaction of $640,440.00. Following the completion of the sale, the director now directly owns 7,196 shares of the company’s stock, valued at approximately $768,101.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.09% of the stock is currently owned by insiders.

About SL Green Realty Corporation

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.

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

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