SL Green Stock Slides While One Insider Trims Stake
Key Points
The chief legal officer of SL Green Realty sold 1,493 shares in an open-market transaction on Dec. 22.
This sale represented 17.5% of Levine's direct holdings, as reported, reducing his post-transaction direct position to 7,045 shares.
The transaction was executed through direct ownership, with no involvement of indirect entities or derivative instruments.
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On Dec. 22, Andrew S. Levine, the chief legal officer of SL Green Realty (NYSE:SLG), directly sold 1,493 shares for approximately $67,588, according to an SEC Form 4 filing. The transaction occurred amid ongoing portfolio and capital management efforts.
Transaction summary
| Metric | Value | Context |
|---|---|---|
| Shares sold (direct) | 1,493 | Open-market shares sold by Levine directly on Dec. 22 |
| Transaction value | $67,588.11 | Based on SEC Form 4 reported price ($45.27 per share) |
| Post-transaction shares (direct) | 7,045 | Directly held by Levine after the transaction |
| Post-transaction value (direct ownership) | $317,518.15 | Based on Dec. 22 market close price ($45.27) |
Transaction value based on SEC Form 4 reported price ($45.27); post-transaction value based on the Dec. 22 market close price ($45.27).
Key questions
- How substantial was this sale relative to Levine's overall holdings?
This transaction involved 17.5% of Levine's direct common stock position, marking a significant -- but not complete -- reduction, with 7,045 shares remaining after the sale. - Did the trade reflect any indirect or derivative activity?
No; the sale was conducted entirely through direct equity ownership, with no shares traded via trusts, family entities, or derivative securities. - How does this sale compare to Levine's historical trading pattern?
In the most recent period, Levine has completed two sell transactions, with the prior sale being substantially larger (45,785 shares). - What is the current market value of Levine's remaining stake?
Following the transaction, his direct holdings are valued at approximately $317,500 based on the Dec. 22 market close, representing a small residual position relative to his prior peak holdings.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $910.38 million |
| Net income (TTM) | $25.63 million |
| Dividend yield | 6.3% |
| 1-year price change | (26.73%) |
* 1-year price change calculated as of Dec. 22.
Company snapshot
- SL Green Realty owns, acquires, and manages commercial office properties, primarily in Manhattan, generating rental income as the main revenue source.
- The company operates as a real estate investment trust (REIT), focusing on maximizing property value and leveraging debt and preferred equity investments.
- It targets institutional tenants, corporate clients, and businesses seeking office space in prime New York City locations.
SL Green Realty is Manhattan's largest office landlord, with a portfolio emphasizing high-value commercial properties in New York City. The company employs an integrated REIT model, combining property ownership with active asset management and capital deployment strategies. Its scale and focus on premier office assets provide a competitive advantage in one of the world's most dynamic real estate markets.
What this transaction means for investors
Small transactions like this tend to say more about routine portfolio management than shifting conviction. While the stock has struggled over the past year amid ongoing uncertainty around Manhattan office demand, the transaction’s dollar value is immaterial relative to both Levine’s historical activity and the company’s overall equity base.
The more useful context sits at the business level. In its most recent quarter, SL Green Realty reported third-quarter 2025 EPS of $0.34 -- an improvement from a loss of $0.21 one year prior -- and funds from operations of $1.58 per share, reflecting improving profitability versus the prior year even as leasing spreads remained slightly negative. Meanwhile, occupancy in the company’s Manhattan same-store office portfolio climbed to 92.4%, with management guiding toward further improvement by year-end. The upcoming earnings report should offer a clearer read on that trajectory. But in the meantime, investors shouldn’t be worried about a sale like this one.
Glossary
Form 4: A required SEC filing disclosing insider trades of company securities by officers, directors, or major shareholders.
Direct ownership: Shares held personally by an individual, not through trusts, family members, or other entities.
Open-market transaction: A trade executed on a public exchange, not through private agreements or company-issued shares.
Derivative instruments: Financial contracts whose value is based on the price of an underlying asset, such as options or futures.
Disposition: The act of selling or otherwise transferring ownership of an asset.
Indirect entities: Organizations or accounts, such as trusts or family partnerships, used to hold assets on behalf of an individual.
REIT (real estate investment trust): A company that owns, operates, or finances income-producing real estate and distributes most profits as dividends.
Dividend yield: The annual dividend payment divided by the stock's current price, shown as a percentage.
TTM: The 12-month period ending with the most recent quarterly report.
Asset management: The professional management of investments, such as real estate or securities, to meet specific goals.
Preferred equity: A class of ownership in a company with higher claim on assets and earnings than common equity, often with fixed dividends.
Capital deployment: The allocation of financial resources to investments or business activities to generate returns.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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