SL Green Realty (NYSE:SLG) Insider Harrison Sitomer Sells 23,113 Shares

SL Green Realty Corporation (NYSE:SLG) insider Harrison Sitomer sold 23,113 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the sale, the insider directly owned 109,468 shares in the company, valued at $6,317,398.28. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, August 20th, Harrison Sitomer sold 16,887 shares of SL Green Realty stock. The stock was sold at an average price of $58.52, for a total transaction of $988,227.24.

SL Green Realty Stock Up 2.0%

Shares of NYSE SLG traded up $1.13 during mid-day trading on Monday, hitting $58.58. The company had a trading volume of 871,897 shares, compared to its average volume of 1,233,333. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $52.76 and a two-hundred day simple moving average of $45.34. The company has a market capitalization of $4.17 billion, a PE ratio of -21.46, a price-to-earnings-growth 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 earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative return on equity of 4.37% and a negative net margin of 16.92%.The business had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. During the same quarter in the prior year, the company posted $1.63 earnings per share. SL Green Realty’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts expect that SL Green Realty Corporation will post 5.44 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.6175 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.2%. SL Green Realty’s dividend payout ratio is currently -90.48%.

Hedge Funds Weigh In On SL Green Realty

A number of large investors have recently made changes to their positions in the company. Integrity Alliance LLC. raised its position in shares of SL Green Realty by 4.1% in the fourth quarter. Integrity Alliance LLC. now owns 5,970 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 237 shares during the period. Empowered Funds LLC boosted its holdings in SL Green Realty by 6.2% in the 4th quarter. Empowered Funds LLC now owns 6,220 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 361 shares during the period. Hantz Financial Services Inc. boosted its holdings in SL Green Realty by 30.6% in 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 period. ProShare Advisors LLC grew its stake in SL Green Realty by 3.3% in the 4th quarter. ProShare Advisors LLC now owns 13,970 shares of the real estate investment trust’s stock valued at $641,000 after buying an additional 442 shares in the last quarter. Finally, Fourth Dimension Wealth LLC raised its holdings in SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after acquiring an additional 500 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SLG has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of SL Green Realty from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Morgan Stanley set a $52.00 price target on SL Green Realty and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price objective (up from $52.00) on shares of SL Green Realty in a research report on Monday, July 27th. LADENBURG THALM/SH SH upped their price objective on shares of SL Green Realty from $42.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of SL Green Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SL Green Realty 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.