Franklin Resources Inc. decreased its stake in SL Green Realty Corp (NYSE:SLG) by 4.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 145,169 shares of the real estate investment trust’s stock after selling 6,820 shares during the period. Franklin Resources Inc.’s holdings in SL Green Realty were worth $14,651,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Highbridge Capital Management LLC boosted its holdings in shares of SL Green Realty by 275.5% in the 3rd quarter. Highbridge Capital Management LLC now owns 84,781 shares of the real estate investment trust’s stock valued at $8,590,000 after buying an additional 62,200 shares in the last quarter. American Investment Services Inc. acquired a new position in shares of SL Green Realty in the 4th quarter valued at $240,000. Arizona State Retirement System boosted its holdings in shares of SL Green Realty by 5.2% in the 4th quarter. Arizona State Retirement System now owns 54,518 shares of the real estate investment trust’s stock valued at $5,503,000 after buying an additional 2,691 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of SL Green Realty by 2.9% in the 3rd quarter. California Public Employees Retirement System now owns 220,441 shares of the real estate investment trust’s stock valued at $22,335,000 after buying an additional 6,171 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of SL Green Realty by 12.5% in the 4th quarter. Toronto Dominion Bank now owns 42,370 shares of the real estate investment trust’s stock valued at $4,277,000 after buying an additional 4,710 shares in the last quarter.
In other news, Director Craig M. Hatkoff sold 3,400 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $93.73, for a total value of $318,682.00. Following the completion of the sale, the director now owns 1,365 shares in the company, valued at approximately $127,941.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc Holliday bought 7,880 shares of SL Green Realty stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $25.20 per share, with a total value of $198,576.00. Following the purchase, the chief executive officer now directly owns 88,900 shares in the company, valued at approximately $2,240,280. The disclosure for this purchase can be found here. 3.09% of the stock is currently owned by company insiders.
Shares of SL Green Realty stock opened at $92.94 on Friday. SL Green Realty Corp has a 52 week low of $89.46 and a 52 week high of $109.95. The company has a market cap of $8,675.92, a price-to-earnings ratio of 105.61, a PEG ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.45.
SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, January 24th. The real estate investment trust reported $1.60 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.60. SL Green Realty had a net margin of 6.71% and a return on equity of 1.38%. The company had revenue of $361.30 million during the quarter, compared to analysts’ expectations of $320.48 million. During the same quarter last year, the business earned $1.43 EPS. The business’s revenue was down 3.4% on a year-over-year basis. equities research analysts expect that SL Green Realty Corp will post 6.75 earnings per share for the current fiscal year.
SL Green Realty announced that its board has approved a stock buyback program on Friday, December 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a $0.8125 dividend. This represents a $3.25 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, March 29th. SL Green Realty’s dividend payout ratio (DPR) is presently 369.32%.
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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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