Canada Pension Plan Investment Board increased its position in shares of SL Green Realty Corp (NYSE:SLG) by 34.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,411 shares of the real estate investment trust’s stock after purchasing an additional 44,800 shares during the period. Canada Pension Plan Investment Board owned approximately 0.20% of SL Green Realty worth $17,010,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in SL Green Realty by 11.7% in the 2nd quarter. Bank of Montreal Can now owns 43,964 shares of the real estate investment trust’s stock valued at $4,420,000 after purchasing an additional 4,602 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of SL Green Realty during the second quarter worth $104,000. Daiwa Securities Group Inc. raised its position in shares of SL Green Realty by 9.8% during the second quarter. Daiwa Securities Group Inc. now owns 21,277 shares of the real estate investment trust’s stock worth $2,139,000 after acquiring an additional 1,900 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of SL Green Realty during the second quarter worth $274,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of SL Green Realty during the second quarter worth $798,000.
SLG stock opened at $96.42 on Monday. The firm has a market cap of $8.22 billion, a PE ratio of 14.95, a PEG ratio of 3.19 and a beta of 1.05. SL Green Realty Corp has a twelve month low of $89.46 and a twelve month high of $106.54. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be paid a dividend of $0.85 per share. The ex-dividend date 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 dividend yield of 3.53%. SL Green Realty’s payout ratio is 50.39%.
In related news, CFO Matthew J. Diliberto sold 3,967 shares of SL Green Realty stock in a transaction on Friday, October 26th. The stock was sold at an average price of $92.07, for a total transaction of $365,241.69. Following the completion of the sale, the chief financial officer now directly owns 36,234 shares of the company’s stock, valued at $3,336,064.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Diliberto sold 35,000 shares of SL Green Realty stock in a transaction on Monday, October 29th. The stock was sold at an average price of $92.27, for a total value of $3,229,450.00. Following the sale, the chief financial officer now directly owns 36,234 shares of the company’s stock, valued at $3,343,311.18. The disclosure for this sale can be found here. 3.65% of the stock is owned by insiders.
A number of equities research analysts have recently weighed in on SLG shares. JPMorgan Chase & Co. downgraded SL Green Realty from an “overweight” rating to a “neutral” rating in a research report on Friday, October 5th. ValuEngine upgraded SL Green Realty from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. TheStreet downgraded SL Green Realty from a “b-” rating to a “c+” rating in a research report on Friday, November 2nd. Robert W. Baird downgraded SL Green Realty from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $109.00 to $103.00 in a research report on Tuesday, October 23rd. Finally, Scotiabank started coverage on SL Green Realty in a research report on Tuesday, October 16th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $108.36.
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SL Green Realty 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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