MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Holdings in SL Green Realty Corporation $SLG

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 22.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,106 shares of the real estate investment trust’s stock after buying an additional 14,225 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.11% of SL Green Realty worth $4,507,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Mackenzie Financial Corp raised its position in shares of SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 240 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in shares of SL Green Realty by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust’s stock valued at $804,000 after buying an additional 300 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust’s stock valued at $1,652,000 after buying an additional 301 shares in the last quarter. Xponance Inc. raised its position in shares of SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust’s stock valued at $331,000 after buying an additional 357 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of SL Green Realty by 6.6% during the 1st quarter. M&T Bank Corp now owns 5,921 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 366 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

Shares of NYSE:SLG opened at $63.36 on Friday. The firm has a market cap of $4.52 billion, a PE ratio of -117.33 and a beta of 1.74. The firm’s 50 day simple moving average is $58.31 and its 200-day simple moving average is $58.06. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.26. The business had revenue of $147.54 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. As a group, equities analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 543.0%. SL Green Realty’s dividend payout ratio (DPR) is -572.22%.

Insider Activity at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owned 937 shares of the company’s stock, valued at approximately $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 5.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLG shares. Truist Financial upped their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of SL Green Realty in a research report on Friday, May 23rd. Evercore ISI dropped their target price on SL Green Realty from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, August 18th. Wall Street Zen lowered SL Green Realty from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th. Finally, Scotiabank upgraded SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 target price for the company in a research report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and a consensus price target of $67.29.

About SL Green Realty

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.