JPMorgan Chase & Co. Purchases 81,910 Shares of SL Green Realty Corporation $SLG

JPMorgan Chase & Co. increased its position in shares of SL Green Realty Corporation (NYSE:SLG) by 12.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 727,906 shares of the real estate investment trust’s stock after purchasing an additional 81,910 shares during the period. JPMorgan Chase & Co.’s holdings in SL Green Realty were worth $43,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ethic Inc. lifted its stake in SL Green Realty by 2.4% in the third quarter. Ethic Inc. now owns 8,132 shares of the real estate investment trust’s stock worth $486,000 after purchasing an additional 193 shares during the last quarter. MAI Capital Management raised its holdings in shares of SL Green Realty by 25.9% in the second quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 203 shares during the period. Amalgamated Bank lifted its stake in shares of SL Green Realty by 1.2% during the 2nd quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock worth $1,253,000 after acquiring an additional 235 shares during the last quarter. Bessemer Group Inc. boosted its holdings in SL Green Realty by 67.8% during the 2nd quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 253 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in SL Green Realty by 5.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,489 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 267 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SL Green Realty

In related news, CEO Marc Holliday sold 22,223 shares of SL Green Realty stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $44.40, for a total transaction of $986,701.20. Following the completion of the transaction, the chief executive officer directly owned 9,698 shares in the company, valued at approximately $430,591.20. This trade represents a 69.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew S. Levine sold 1,493 shares of SL Green Realty stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $45.27, for a total transaction of $67,588.11. Following the transaction, the insider directly owned 7,045 shares in the company, valued at $318,927.15. This trade represents a 17.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.04% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG opened at $39.38 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 1.05. The firm has a market cap of $2.81 billion, a PE ratio of -24.46 and a beta of 1.63. SL Green Realty Corporation has a 12 month low of $36.12 and a 12 month high of $66.91. The stock has a fifty day moving average price of $44.24 and a 200-day moving average price of $50.19.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. SL Green Realty had a negative net margin of 9.66% and a negative return on equity of 2.44%. The business had revenue of $159.82 million for the quarter, compared to analyst estimates of $162.73 million. During the same quarter in the prior year, the business posted $1.81 EPS. SL Green Realty’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SLG shares. BMO Capital Markets lowered their target price on shares of SL Green Realty from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, December 8th. Scotiabank lowered their price objective on shares of SL Green Realty from $66.00 to $61.00 and set a “sector outperform” rating for the company in a research report on Wednesday, January 14th. Raymond James Financial set a $44.00 target price on shares of SL Green Realty in a research report on Tuesday, February 3rd. UBS Group set a $61.00 price target on shares of SL Green Realty in a research note on Wednesday, January 14th. Finally, Evercore set a $54.00 price objective on SL Green Realty and gave the stock an “outperform” rating in a research note on Monday, December 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, SL Green Realty has an average rating of “Hold” and an average target price of $53.30.

SL Green Realty Profile

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.