Posted on: July 2, 2022 Posted by: AKDSEO Comments: 0

Pensionfund Sabic trimmed its holdings in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) by 20.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,902 shares of the real estate investment trust’s stock after selling 2,011 shares during the quarter. Pensionfund Sabic’s holdings in SL Green Realty were worth $641,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Wetherby Asset Management Inc. increased its position in SL Green Realty by 4.8% during the fourth quarter. Wetherby Asset Management Inc. now owns 3,169 shares of the real estate investment trust’s stock worth $228,000 after buying an additional 146 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in SL Green Realty by 11.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,455 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 147 shares during the period. Arrow Investment Advisors LLC boosted its holdings in SL Green Realty by 4.2% during the fourth quarter. Arrow Investment Advisors LLC now owns 3,892 shares of the real estate investment trust’s stock valued at $279,000 after acquiring an additional 156 shares during the period. Phocas Financial Corp. boosted its holdings in SL Green Realty by 1.7% during the fourth quarter. Phocas Financial Corp. now owns 12,062 shares of the real estate investment trust’s stock valued at $865,000 after acquiring an additional 197 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in SL Green Realty by 8.8% during the fourth quarter. Schroder Investment Management Group now owns 3,679 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 297 shares during the period. 84.49% of the stock is currently owned by hedge funds and other institutional investors.

SLG has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of SL Green Realty in a report on Wednesday. They set a “neutral” rating for the company. Truist Financial decreased their price target on shares of SL Green Realty from $85.00 to $80.00 in a report on Tuesday, April 26th. Morgan Stanley decreased their price target on shares of SL Green Realty from $65.00 to $58.00 and set an “equal weight” rating for the company in a report on Wednesday, June 1st. Mizuho began coverage on shares of SL Green Realty in a report on Friday, April 22nd. They set a “neutral” rating and a $77.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of SL Green Realty from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $76.29.

NYSE SLG opened at $47.18 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a 50-day simple moving average of $63.04 and a 200 day simple moving average of $72.65. SL Green Realty Corp. has a twelve month low of $47.10 and a twelve month high of $83.96. The stock has a market cap of $3.03 billion, a PE ratio of 6.97, a PEG ratio of 3.52 and a beta of 1.41.

SL Green Realty (NYSE:SLG – Get Rating) last announced its quarterly earnings results on Wednesday, April 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. The firm had revenue of $187.96 million during the quarter, compared to analysts’ expectations of $163.65 million. SL Green Realty had a net margin of 57.70% and a return on equity of 9.32%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Research analysts forecast that SL Green Realty Corp. will post 6.81 earnings per share for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.311 per share. This is a boost from SL Green Realty’s previous monthly dividend of $0.31. The ex-dividend date is Wednesday, June 29th. This represents a $3.73 dividend on an annualized basis and a yield of 7.91%. SL Green Realty’s dividend payout ratio (DPR) is currently 55.08%.

SL Green Realty Profile (Get Rating)

SL Green Realty Corp., an S&P 500 company and Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)



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