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Craig M. Hatkoff, a director at SL Green Realty Corp. (NYSE:SLG), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Hatkoff sold 3,455 shares of common stock at an average price of $66.30 per share, totaling approximately $229,066. Following this transaction, Hatkoff now holds 2,052 shares directly. The shares were sold in multiple transactions, with prices ranging from $66.04 to $66.77 per share.The $5.09 billion market cap real estate company currently offers a 4.68% dividend yield and has maintained dividend payments for 29 consecutive years. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with analysts anticipating a sales decline in the current year. According to InvestingPro data, SLG shows high earnings multiples and volatile price movements, with 6 additional key insights available to subscribers.
In other recent news, SL Green Realty Corp reported a significant increase in fourth quarter Funds From Operations (FFO) per share, rising to $1.81 from the previous year's 72 cents per share. This surpassed average analyst estimates and was accompanied by a 16% year-on-year revenue growth, reaching $245.9 million. Net operating income also saw a 7.8% increase from the same period last year.
Analysts from Truist Securities revised the company's price target upwards from $61.00 to $62.00, maintaining a Hold rating on the stock. Analyst Michael R. Lewis (JO:LEWJ) from Truist Securities stated this adjustment reflects an increase in the estimated FFO for 2025 and 2026, prompted by the stronger-than-anticipated quarterly performance.
In addition, SL Green Realty Corp extended the tenure of CEO Marc Holliday until July 18, 2028, with an annual base salary of $1.4 million. His compensation package also includes long-term incentive plan units valued at no less than $5 million annually.
Moreover, several analyst firms, including JPMorgan, Jefferies, Barclays (LON:BARC), and BMO Capital Markets, adjusted their targets for SL Green Realty. Notably, JPMorgan raised its target for the company to $80 from $51. These are among the recent developments for SL Green Realty Corp.
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