Citigroup Inc. Sells 346,235 Shares of SL Green Realty Corporation $SLG

Citigroup Inc. reduced its holdings in SL Green Realty Corporation (NYSE:SLG) by 87.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,676 shares of the real estate investment trust’s stock after selling 346,235 shares during the period. Citigroup Inc. owned approximately 0.07% of SL Green Realty worth $3,091,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of SL Green Realty in the second quarter worth $55,947,000. Prudential Financial Inc. boosted its holdings in SL Green Realty by 104.1% in the 2nd quarter. Prudential Financial Inc. now owns 1,622,594 shares of the real estate investment trust’s stock valued at $100,439,000 after purchasing an additional 827,407 shares during the period. Balyasny Asset Management L.P. grew its position in SL Green Realty by 663.4% in the 2nd quarter. Balyasny Asset Management L.P. now owns 513,556 shares of the real estate investment trust’s stock worth $31,789,000 after purchasing an additional 446,283 shares during the last quarter. BROOKFIELD Corp ON bought a new position in shares of SL Green Realty during the 2nd quarter worth about $18,695,000. Finally, American Century Companies Inc. acquired a new position in shares of SL Green Realty during the second quarter valued at about $12,841,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $39.67 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.66 and a quick ratio of 2.66. The business’s fifty day moving average price is $43.62 and its two-hundred day moving average price is $49.66. SL Green Realty Corporation has a fifty-two week low of $35.03 and a fifty-two week high of $66.91. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -24.64 and a beta of 1.66.

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

Insider Activity

In related news, CEO Marc Holliday sold 22,223 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 9,698 shares of the company’s stock, valued at $430,591.20. This trade represents a 69.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew S. Levine sold 1,493 shares of SL Green Realty stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $45.27, for a total value of $67,588.11. Following the completion of the transaction, the insider owned 7,045 shares of the company’s stock, valued at approximately $318,927.15. The trade was a 17.49% decrease in their position. The SEC filing for this sale provides additional information. 5.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of recent research reports. Morgan Stanley set a $43.00 target price on SL Green Realty in a research report on Thursday, January 29th. Barclays decreased their price objective on SL Green Realty from $54.00 to $43.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. BTIG Research cut their target price on SL Green Realty from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. LADENBURG THALM/SH SH decreased their price target on shares of SL Green Realty from $60.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, December 18th. Finally, Deutsche Bank Aktiengesellschaft set a $45.00 price target on shares of SL Green Realty in a report on Tuesday, January 6th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.80.

SL Green Realty Company 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.