SL Green Realty Corporation $SLG Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in SL Green Realty Corporation (NYSE:SLG) by 12.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 727,906 shares of the real estate investment trust’s stock after purchasing an additional 81,910 shares during the quarter. JPMorgan Chase & Co. owned 1.02% of SL Green Realty worth $43,536,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Triumph Capital Management bought a new stake in SL Green Realty during the third quarter worth approximately $45,000. Hudson Bay Capital Management LP increased its position in shares of SL Green Realty by 51.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,460,373 shares of the real estate investment trust’s stock valued at $87,345,000 after purchasing an additional 497,040 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of SL Green Realty in the 3rd quarter worth $458,000. Dark Forest Capital Management LP raised its stake in shares of SL Green Realty by 38.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 72,242 shares of the real estate investment trust’s stock worth $4,321,000 after buying an additional 20,028 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of SL Green Realty by 93.0% in the third quarter. Verition Fund Management LLC now owns 185,386 shares of the real estate investment trust’s stock valued at $11,088,000 after buying an additional 89,353 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SLG. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a report on Wednesday, January 21st. Barclays dropped their target price on shares of 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. Scotiabank set a $52.00 target price on shares of SL Green Realty and gave the stock a “sector outperform” rating in a report on Friday, March 13th. Raymond James Financial set a $44.00 price target on shares of SL Green Realty in a research report on Tuesday, February 3rd. Finally, Citigroup dropped their price target on SL Green Realty from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.80.

Insider Buying and Selling at SL Green Realty

In other news, CEO Marc Holliday sold 22,223 shares of SL Green Realty 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 transaction, the chief executive officer owned 9,698 shares in the company, valued at approximately $430,591.20. The trade was a 69.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew S. Levine sold 1,493 shares of the company’s 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 transaction, the insider directly owned 7,045 shares in the company, valued at $318,927.15. The trade was a 17.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.04% of the stock is owned by insiders.

SL Green Realty Price Performance

NYSE SLG opened at $37.48 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. SL Green Realty Corporation has a 1 year low of $35.03 and a 1 year high of $66.91. The company has a market cap of $2.67 billion, a PE ratio of -23.28 and a beta of 1.66. The stock’s 50-day moving average price is $41.62 and its two-hundred day moving average price is $48.25.

SL Green Realty (NYSE:SLG) last announced its earnings results on Wednesday, January 28th. The real estate investment trust reported $1.13 EPS for the quarter, topping the consensus estimate 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 company had revenue of $159.82 million during the quarter, compared to analysts’ expectations of $162.73 million. During the same period last year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

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.