Xponance Inc. Acquires 357 Shares of SL Green Realty Corporation (NYSE:SLG)

Xponance Inc. raised its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 6.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,745 shares of the real estate investment trust’s stock after purchasing an additional 357 shares during the period. Xponance Inc.’s holdings in SL Green Realty were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SLG. Norges Bank purchased a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $48,050,000. Northern Trust Corp grew its holdings in shares of SL Green Realty by 79.9% during the fourth quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust’s stock valued at $97,101,000 after buying an additional 634,788 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of SL Green Realty by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock valued at $735,594,000 after buying an additional 564,822 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $29,000,000. Finally, Alyeska Investment Group L.P. grew its holdings in shares of SL Green Realty by 30.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust’s stock valued at $101,419,000 after buying an additional 347,608 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

SLG has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of SL Green Realty from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, July 9th. Piper Sandler cut their price target on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Wall Street Zen cut shares of SL Green Realty from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SL Green Realty in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.60.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction on Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the transaction, the director owned 937 shares in the company, valued at $56,791.57. This trade represents a 72.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.04% of the stock is owned by corporate insiders.

SL Green Realty Trading Down 1.8%

Shares of SL Green Realty stock opened at $60.19 on Friday. The company’s fifty day simple moving average is $61.06 and its 200-day simple moving average is $60.27. The stock has a market capitalization of $4.29 billion, a PE ratio of -111.46 and a beta of 1.65. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.85.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.26. The business had revenue of $147.54 million for the quarter, compared to analysts’ expectations of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 EPS. As a group, equities analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, June 30th. SL Green Realty’s dividend payout ratio is presently -572.22%.

SL Green Realty Profile

3SL Green Realty Corp., 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 June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.