Sequoia Financial Advisors LLC increased its holdings in SL Green Realty Corp. (NYSE:SLG – Free Report) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,352 shares of the real estate investment trust after purchasing an additional 606 shares during the period. Sequoia Financial Advisors LLC’s holdings in SL Green Realty were worth $813,000, according to the most recent SEC filing.
Several other major investors also made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new stake in SL Green Realty during the first quarter valued at approximately $55,000. GAMMA Investing LLC acquired a new stake in SL Green Realty during the fourth quarter valued at $140,000. Meeder Advisory Services Inc. acquired a new stake in SL Green Realty during the first quarter valued at approximately $201,000. Mackenzie Financial Corp acquired a new stake in SL Green Realty during the fourth quarter valued at approximately $206,000. Finally, Virtu Financial LLC acquired a new stake in SL Green Realty during the first quarter valued at approximately $237,000. 89.96% of the shares are owned by hedge funds and other institutional investors.
SL Green Realty shares rise 2.5%
SLG stock opened at $62.28 on Wednesday. The company has a market cap of $4.06 billion, a P/E ratio of -7.54, a PEG ratio of 1.99 and a beta of 1.83. SL Green Realty Corp. has a 12-month low of $28.55 and a 12-month high of $68.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.59 and a quick ratio of 2.59. The company has a 50-day moving average of $59.09 and a 200-day moving average of $53.23.
SL Green Realty (NYSE:SLG – Get Free Report) last announced its earnings results on Wednesday, July 17. The real estate investment trust reported earnings per share (EPS) of -$0.04 for the quarter, beating analysts’ consensus estimates of -$0.13 by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The company posted revenue of $222.82 million for the quarter, compared to analyst estimates of $133.83 million. During the same period last year, the company posted earnings per share of $1.43. SL Green Realty’s revenue for the quarter decreased 9.4% compared to the same quarter last year. Equities analysts forecast that SL Green Realty Corp. will post earnings per share of $7.58 for the current fiscal year.
SL Green Realty cuts dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will receive a dividend of $0.25. The ex-dividend date is Wednesday, July 31st. This represents a $3.00 annualized dividend and a dividend yield of 4.82%. SL Green Realty’s payout ratio is currently -36.32%.
Wall Street analysts comment
Several equities analysts have commented on the stock. Truist Financial increased their price target on shares of SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Evercore ISI increased their price target on shares of SL Green Realty from $47.00 to $49.00 and gave the company an “underperform” rating in a research report on Monday, July 1st. Barclays increased their price target on shares of SL Green Realty from $49.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Scotiabank raised their price target on shares of SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 7. Six equities analysts have rated the stock with a sell rating, five have given a hold rating, and two have given a buy rating. The company has a consensus rating of “Hold” and an average price target of $52.58, according to data from MarketBeat.
Read our latest report on SL Green Realty
About SL Green Realty
(Free report)
3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust (REIT) primarily focused on acquiring, managing and maximizing the value of commercial real estate in Manhattan. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.
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