Harrison Street Securities Lowers stake in SL Green Realty Corp (SLG)

SL Green Realty Corp (SLG) : Harrison Street Securities reduced its stake in SL Green Realty Corp by 31.09% during the most recent quarter end. The investment management company now holds a total of 8,330 shares of SL Green Realty Corp which is valued at $992,520 after selling 3,759 shares in SL Green Realty Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.SL Green Realty Corp makes up approximately 3.16% of Harrison Street Securities’s portfolio.

Other Hedge Funds, Including , Weiss Multi-strategy Advisers boosted its stake in SLG in the latest quarter, The investment management firm added 240,018 additional shares and now holds a total of 450,145 shares of SL Green Realty Corp which is valued at $53,634,777. SL Green Realty Corp makes up approx 2.39% of Weiss Multi-strategy Advisers’s portfolio.Kempen Capital Management N.v. boosted its stake in SLG in the latest quarter, The investment management firm added 12,681 additional shares and now holds a total of 34,571 shares of SL Green Realty Corp which is valued at $4,119,135. SL Green Realty Corp makes up approx 0.46% of Kempen Capital Management N.v.’s portfolio.First Mercantile Trust Co reduced its stake in SLG by selling 180 shares or 5.13% in the most recent quarter. The Hedge Fund company now holds 3,330 shares of SLG which is valued at $396,770. SL Green Realty Corp makes up approx 0.05% of First Mercantile Trust Co’s portfolio.South Texas Money Management Ltd boosted its stake in SLG in the latest quarter, The investment management firm added 22,356 additional shares and now holds a total of 280,837 shares of SL Green Realty Corp which is valued at $32,655,726. SL Green Realty Corp makes up approx 1.77% of South Texas Money Management Ltd’s portfolio.Daiwa Securities Group boosted its stake in SLG in the latest quarter, The investment management firm added 763,037 additional shares and now holds a total of 3,952,856 shares of SL Green Realty Corp which is valued at $458,294,125. SL Green Realty Corp makes up approx 2.74% of Daiwa Securities Group’s portfolio.

SL Green Realty Corp closed down -2.19 points or -1.86% at $115.53 with 7,61,943 shares getting traded on Thursday. Post opening the session at $117.73, the shares hit an intraday low of $114.78 and an intraday high of $117.85 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, SL Green Realty Corp reported $3.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $3.16. The company had revenue of $465.43 million for the quarter, compared to analysts expectations of $398.23 million. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

Many Wall Street Analysts have commented on SL Green Realty Corp. Company shares were Reiterated by Stifel on Aug 15, 2016 to “Buy”, Firm has raised the Price Target to $ 125 from a previous price target of $121 .SL Green Realty Corp was Upgraded by Morgan Stanley to ” Overweight” on Jul 25, 2016. Shares were Downgraded by UBS on Jul 1, 2016 to ” Neutral” and Lowered the Price Target to $ 107 from a previous price target of $115 .

SL Green Realty Corp. is a self-managed real estate investment trust or REIT with in-house capabilities in property management acquisitions and dispositions financing development and redevelopment construction and leasing. It operates two segments: real estate and debt and preferred equity investments. The Company owns interests in commercial office properties in the New York Metropolitan area primarily in midtown Manhattan. The Company also manages an approximately 336201 square foot office building owned by a third party and held debt and preferred equity investments with a book value of approximately $1.4 billion. The Company also invests in well-collateralized debt and preferred equity investments.

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