Amalgamated Bank Has $3.65 Million Stake in SL Green Realty Corp. (NYSE:SLG)

Amalgamated Bank decreased its stake in SL Green Realty Corp. (NYSE:SLGGet Rating) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,975 shares of the real estate investment trust’s stock after selling 2,914 shares during the quarter. Amalgamated Bank owned approximately 0.07% of SL Green Realty worth $3,651,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its stake in SL Green Realty by 12.2% in the 1st quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock valued at $314,295,000 after buying an additional 419,067 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in SL Green Realty by 3.7% in the first quarter. DAVENPORT & Co LLC now owns 1,501,051 shares of the real estate investment trust’s stock worth $122,222,000 after purchasing an additional 53,513 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of SL Green Realty by 1.2% during the first quarter. Confluence Investment Management LLC now owns 1,347,654 shares of the real estate investment trust’s stock worth $109,403,000 after acquiring an additional 15,805 shares during the last quarter. Wellington Management Group LLP raised its position in shares of SL Green Realty by 20.6% during the first quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust’s stock worth $97,200,000 after acquiring an additional 204,750 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of SL Green Realty by 13.6% during the first quarter. Northern Trust Corp now owns 1,099,235 shares of the real estate investment trust’s stock worth $89,236,000 after acquiring an additional 131,984 shares during the last quarter. Institutional investors and hedge funds own 89.19% of the company’s stock.

SL Green Realty Stock Down 2.8 %

Shares of SL Green Realty stock opened at $42.86 on Friday. SL Green Realty Corp. has a 1 year low of $42.55 and a 1 year high of $83.96. The business has a 50-day moving average of $47.28 and a two-hundred day moving average of $59.18. The company has a market capitalization of $2.76 billion, a P/E ratio of 9.49 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.20 and a quick ratio of 2.20.

SL Green Realty (NYSE:SLGGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.76). SL Green Realty had a return on equity of 6.35% and a net margin of 40.01%. The business had revenue of $155.20 million during the quarter, compared to the consensus estimate of $157.74 million. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue was down 15.9% compared to the same quarter last year. As a group, equities analysts predict that SL Green Realty Corp. will post 6.75 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.3108 dividend. The ex-dividend date is Thursday, September 29th. This represents a $3.73 annualized dividend and a dividend yield of 8.70%. SL Green Realty’s dividend payout ratio (DPR) is currently 82.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on SL Green Realty from $48.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 30th. Credit Suisse Group assumed coverage on SL Green Realty in a research report on Wednesday, June 22nd. They set a “neutral” rating and a $51.00 target price for the company. Mizuho dropped their target price on SL Green Realty from $77.00 to $55.00 and set a “neutral” rating for the company in a research report on Wednesday, July 6th. Piper Sandler dropped their target price on SL Green Realty to $52.00 in a research report on Friday, July 22nd. Finally, BMO Capital Markets upgraded SL Green Realty from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $60.00 to $56.00 in a research report on Thursday, September 8th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty has an average rating of “Hold” and a consensus target price of $58.00.

SL Green Realty Profile

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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.

See Also

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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