On January 26, 2024, Betsy Atkins, a director of SL Green Realty Corp (NYSE:SLG), divested 9,894 shares of the company’s stock, as disclosed in a recent SEC filing. The transaction, executed at a price of $47.25 per share, amounted to a total sale value of $467,489.50.
SL Green Realty Corp is a real estate investment trust (REIT) specializing in the acquisition, management, and optimization of commercial properties in Manhattan. As New York City’s largest office landlord, the company maintains a diverse portfolio of office buildings serving various tenants.
In the past year, Atkins has sold a total of 14,894 shares of SL Green Realty Corp’s stock, without making any purchases. This recent sale aligns with a broader pattern of insider transactions within the company, which has witnessed five insider sales and no insider purchases over the same period.
As of the date of the insider transaction, SL Green Realty Corp’s shares were trading at $47.25, translating to a market capitalization of $3.058 billion. The stock’s price-to-GF-Value ratio, derived from GuruFocus’s proprietary intrinsic value estimate, stands at 0.87, indicating a modest undervaluation based on the GF Value metric. This estimate is computed using historical trading multiples, adjustments for the company’s past performance, and future business performance forecasts by Morningstar analysts.
Insider transactions are closely monitored by investors and analysts as they can offer insights into a company’s internal perspectives regarding its stock’s valuation and future prospects. The recent sales activity by Director Betsy Atkins at SL Green Realty Corp may be of interest to stakeholders evaluating the company’s stock performance and valuation metrics.
