SL Green Realty Corp. (NYSE:SLG) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in SL Green Realty Corp. (NYSE:SLGGet Rating) by 46.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,822 shares of the real estate investment trust’s stock after selling 26,742 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SL Green Realty were worth $1,422,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of SL Green Realty in the 2nd quarter valued at $25,000. CWM LLC grew its position in SL Green Realty by 1,050.0% in the 2nd quarter. CWM LLC now owns 736 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 672 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new position in SL Green Realty in the 2nd quarter valued at $77,000. Clearstead Advisors LLC purchased a new position in SL Green Realty in the 1st quarter valued at $108,000. Finally, Wolverine Asset Management LLC purchased a new position in SL Green Realty in the 2nd quarter valued at $154,000. 89.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLG shares. Morgan Stanley lifted their price objective on shares of SL Green Realty from $41.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, September 9th. Truist Financial lowered their price objective on shares of SL Green Realty from $59.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. Evercore ISI decreased their target price on shares of SL Green Realty from $54.00 to $51.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 27th. BTIG Research decreased their target price on shares of SL Green Realty from $105.00 to $84.00 in a research report on Wednesday, October 19th. Finally, Piper Sandler decreased their target price on shares of SL Green Realty from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, SL Green Realty currently has an average rating of “Hold” and an average target price of $56.15.

SL Green Realty Trading Up 0.2 %

NYSE:SLG opened at $40.03 on Tuesday. The company has a market capitalization of $2.57 billion, a PE ratio of -30.79 and a beta of 1.39. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.19. SL Green Realty Corp. has a 52-week low of $35.77 and a 52-week high of $83.96. The stock has a fifty day simple moving average of $40.26 and a 200-day simple moving average of $47.52.

SL Green Realty (NYSE:SLGGet Rating) last announced its earnings results on Thursday, October 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. SL Green Realty had a negative net margin of 8.17% and a negative return on equity of 1.34%. The firm had revenue of $162.95 million during the quarter, compared to the consensus estimate of $158.30 million. During the same quarter in the previous year, the company posted $1.83 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect that SL Green Realty Corp. will post 6.72 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a $0.311 dividend. This represents a $3.73 annualized dividend and a yield of 9.32%. The ex-dividend date of this dividend is Tuesday, November 29th. SL Green Realty’s payout ratio is -286.92%.

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

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

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