Daiwa Securities Group buys $458,294,125 stake in SL Green Realty Corp (SLG)

SL Green Realty Corp (SLG) : Daiwa Securities Group scooped up 763,037 additional shares in SL Green Realty Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm 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 approximately 2.74% of Daiwa Securities Group’s portfolio.

Other Hedge Funds, Including , Cornerstone Advisors added SLG to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $1,855.Oakbrook Investments boosted its stake in SLG in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 6,253 shares of SL Green Realty Corp which is valued at $717,969. SL Green Realty Corp makes up approx 0.04% of Oakbrook Investments’s portfolio.Next Financial Group Inc boosted its stake in SLG in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 125 shares of SL Green Realty Corp which is valued at $13,248.

SL Green Realty Corp opened for trading at $116.37 and hit $118.42 on the upside on Friday, eventually ending the session at $117.82, with a gain of 1.31% or 1.52 points. The heightened volatility saw the trading volume jump to 7,00,972 shares. Company has a market cap of $11,810 M.

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. 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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