Sumitomo Mitsui Trust Holdings Inc. reduced its stake in SL Green Realty Corp. (NYSE:SLG – Free Report) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC) on Form 13F. The institutional investor owned 72,321 shares of the real estate investment trust after selling 629 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.11% of SL Green Realty worth $4,096,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new stake in shares of SL Green Realty during the 1st quarter valued at approximately $55,000. GAMMA Investing LLC acquired a new stake in shares of SL Green Realty during the fourth quarter valued at approximately $140,000. Meeder Advisory Services Inc. acquired a new stake in shares of SL Green Realty during the 1st quarter valued at approximately $201,000. Mackenzie Financial Corp acquired a new stake in shares of SL Green Realty during the 4th quarter valued at approximately $206,000. Finally, Virtu Financial LLC acquired a new stake in shares of SL Green Realty during the first quarter valued at approximately $237,000. 89.96% of the shares are currently owned by hedge funds and other institutional investors.
Wall Street analysts predict growth
Several research analysts have recently commented on the stock. Goldman Sachs Group increased their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their price target on SL Green Realty from $58.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Scotiabank increased their price target on SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Citigroup increased their price target on SL Green Realty from $31.00 to $37.00 and gave the company a “sell” rating in a research report on Thursday, June 13th. Finally, StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a research report on Friday, July 19. Six investment analysts have rated the stock with a “sell,” five have rated it with a “hold” rating, and two have rated it with a “buy.” The company has a consensus rating of “Hold” and an average price target of $52.58, according to data from MarketBeat.com.
Check out our latest stock report on SLG
SL Green Realty price development
SL Green Realty stock opened at $64.59 on Thursday. SL Green Realty Corp. has a 12-month low of $28.55 and a 12-month high of $68.92. The company has a liquidity ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $60.24 and a 200-day moving average price of $53.91. The company has a market cap of $4.21 billion, a P/E ratio of -7.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.83.
SL Green Realty (NYSE:SLG – Get Free Report) last announced its quarterly results on Wednesday, July 17. The real estate investment trust reported earnings per share (EPS) of ($0.04) for the quarter, beating the consensus estimate of ($0.13) by $0.09. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. The company posted revenue of $222.82 million during the quarter, compared to the consensus estimate of $133.83 million. In the same quarter last year, the company posted earnings per share of $1.43. The company’s quarterly revenue declined 9.4% compared to the same quarter last year. As a group, equities analysts forecast that SL Green Realty Corp. will post earnings per share of $7.58 for the current year.
SL Green Realty announces dividend
The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will receive a dividend of $0.25. This represents a $3.00 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, August 30th. SL Green Realty’s payout ratio is currently -36.32%.
SL Green Realty Company Profile
(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.
Selected articles
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