SL Green Realty Corporation (NYSE:SLG) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in SL Green Realty Corporation (NYSE:SLG) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,113,302 shares of the real estate investment trust’s stock after purchasing an additional 283,009 shares during the quarter. Vanguard Group Inc. owned approximately 0.16% of SL Green Realty worth $641,238,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in SL Green Realty in the fourth quarter worth $75,000. GF Fund Management CO. LTD. acquired a new position in SL Green Realty in the fourth quarter worth $80,000. Sterling Capital Management LLC boosted its holdings in SL Green Realty by 909.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,261 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 2,037 shares during the period. KBC Group NV boosted its holdings in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 577 shares during the period. Finally, Norinchukin Bank The boosted its holdings in SL Green Realty by 6.6% in the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 192 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Buying and Selling at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the sale, the director directly owned 937 shares in the company, valued at $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.04% of the stock is currently owned by corporate insiders.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $55.60 on Thursday. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm’s 50-day simple moving average is $60.84 and its 200 day simple moving average is $59.18. The company has a quick ratio of 2.85, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The stock has a market cap of $3.96 billion, a P/E ratio of -102.96 and a beta of 1.69.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business had revenue of $147.54 million for the quarter, compared to analysts’ expectations of $171.24 million. During the same period in the previous year, the business earned $2.05 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $0.2575 per share. This represents a dividend yield of 510.0%. The ex-dividend date is Thursday, July 31st. SL Green Realty’s payout ratio is currently -572.22%.

Analyst Ratings Changes

SLG has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Piper Sandler decreased their price objective on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wall Street Zen downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. reduced their price target on shares of SL Green Realty from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Finally, Scotiabank raised shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price target for the company in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.29.

SL Green Realty Company 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.