Moody Aldrich Partners LLC Acquires 49,212 Shares of SL Green Realty Corporation $SLG

Key Points

• Moody Aldrich Partners increased its SL Green Realty stake by 63.3% in the third quarter, acquiring 49,212 shares and bringing its holdings to 126,982 shares valued at approximately $6.2 million.
• Institutional investors own nearly 90% of SL Green Realty, while analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $54.50.
• SL Green Realty reported quarterly earnings of $1.01 per share, exceeding estimates, but revenue fell short of expectations. The company maintains a quarterly dividend of $0.6175 per share, equivalent to a 5.0% annualized yield.

Moody Aldrich Partners LLC grew its holdings in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 63.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 126,982 shares of the real estate investment trust's stock after acquiring an additional 49,212 shares during the quarter. SL Green Realty comprises approximately 1.2% of Moody Aldrich Partners LLC's holdings, making the stock its 17th largest position. Moody Aldrich Partners LLC owned approximately 0.18% of SL Green Realty worth $6,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SLG. Asset Management One Co. Ltd. increased its stake in shares of SL Green Realty by 6.5% during the third quarter. Asset Management One Co. Ltd. now owns 105,474 shares of the real estate investment trust's stock valued at $5,160,000 after acquiring an additional 6,435 shares during the period. Summit Place Financial Advisors LLC bought a new stake in SL Green Realty during the third quarter worth approximately $1,478,000. Probity Advisors Inc. lifted its position in SL Green Realty by 6.1% in the third quarter. Probity Advisors Inc. now owns 11,546 shares of the real estate investment trust's stock worth $565,000 after purchasing an additional 665 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in SL Green Realty in the third quarter worth approximately $238,000. Finally, Trellis Wealth Advisors LLC acquired a new position in shares of SL Green Realty during the 3rd quarter valued at $41,000. Institutional investors own 89.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on SLG shares. Weiss Ratings reissued a "sell (d+)" rating on shares of SL Green Realty in a research note on Tuesday, August 25th. UBS Group set a $60.00 target price on SL Green Realty in a research note on Monday, July 27th. Evercore set a $60.00 target price on SL Green Realty in a report on Monday, September 21st. Wall Street Zen raised SL Green Realty from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Finally, Scotiabank dropped their price target on shares of SL Green Realty from $60.00 to $59.00 and set a "sector outperform" rating on the stock in a research report on Thursday, September 17th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.50.

SL Green Realty Stock Down 0.8%

SLG stock opened at $49.00 on Thursday. SL Green Realty Corporation has a 12 month low of $34.77 and a 12 month high of $60.09. The firm has a market cap of $3.49 billion, a PE ratio of -23.79, a P/E/G ratio of 4.06 and a beta of 1.66. The firm has a 50 day simple moving average of $51.65 and a 200 day simple moving average of $46.84. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.92 and a quick ratio of 3.10.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, October 21st. The real estate investment trust reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $1.26. The firm had revenue of $165.55 million during the quarter, compared to analysts' expectations of $176.97 million. SL Green Realty had a negative net margin of 12.03% and a negative return on equity of 3.18%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. Equities research analysts forecast that SL Green Realty Corporation will post 5.72 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.6175 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Wednesday, September 30th. SL Green Realty's dividend payout ratio is -119.90%.

Insider Activity at SL Green Realty

In other news, insider Harrison Sitomer sold 23,113 shares of the firm's stock in a transaction on 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 completion of the sale, the insider directly owned 109,468 shares of the company's stock, valued at $6,317,398.28. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.94% of the company's stock.

SL Green Realty Profile

SL Green Realty Corp. NYSE: SLG is a self-managed real estate investment trust focused primarily on acquiring, owning, managing and redeveloping commercial properties in Manhattan. The company is one of New York City's prominent office landlords, with a portfolio concentrated in high-quality office buildings and related retail assets.

Its activities include leasing office and retail space, property management, redevelopment and development projects, and providing amenities and services designed to support tenants.

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