SL Green Realty Corp. (NYSE:SLG) Position Cut by Swiss National Bank

Swiss National Bank trimmed its stake in SL Green Realty Corp. (NYSE:SLGGet Rating) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 152,598 shares of the real estate investment trust’s stock after selling 5,200 shares during the quarter. Swiss National Bank owned approximately 0.24% of SL Green Realty worth $7,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. California Public Employees Retirement System raised its stake in shares of SL Green Realty by 1.0% during the first quarter. California Public Employees Retirement System now owns 148,847 shares of the real estate investment trust’s stock valued at $12,083,000 after purchasing an additional 1,420 shares in the last quarter. M&T Bank Corp raised its stake in shares of SL Green Realty by 1,935.0% during the second quarter. M&T Bank Corp now owns 7,204 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 6,850 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of SL Green Realty during the second quarter valued at about $4,747,000. Retirement Systems of Alabama raised its stake in shares of SL Green Realty by 0.4% during the second quarter. Retirement Systems of Alabama now owns 84,473 shares of the real estate investment trust’s stock valued at $3,898,000 after purchasing an additional 359 shares in the last quarter. Finally, Intersect Capital LLC raised its stake in shares of SL Green Realty by 56.5% during the first quarter. Intersect Capital LLC now owns 13,640 shares of the real estate investment trust’s stock valued at $1,107,000 after purchasing an additional 4,923 shares in the last quarter. 89.19% of the stock is currently owned by institutional investors.

SL Green Realty Trading Up 2.6 %

NYSE:SLG opened at $41.09 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34. SL Green Realty Corp. has a fifty-two week low of $35.77 and a fifty-two week high of $83.96. The stock’s 50-day moving average is $40.16 and its two-hundred day moving average is $47.32. The stock has a market cap of $2.64 billion, a PE ratio of -31.61 and a beta of 1.39.

SL Green Realty (NYSE:SLGGet Rating) last released 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 return on equity of 1.34% and a negative net margin of 8.17%. The company had revenue of $162.95 million for the quarter, compared to analysts’ expectations of $158.30 million. During the same quarter in the previous year, the business posted $1.83 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that SL Green Realty Corp. will post 6.71 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.311 per share. The ex-dividend date is Tuesday, November 29th. This represents a $3.73 annualized dividend and a yield of 9.08%. SL Green Realty’s dividend payout ratio (DPR) is presently -286.92%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLG. BTIG Research cut their price objective on shares of SL Green Realty from $105.00 to $84.00 in a research note on Wednesday, October 19th. Piper Sandler lowered their target price on SL Green Realty from $52.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, October 7th. Evercore ISI lowered their target price on SL Green Realty from $54.00 to $51.00 and set an “in-line” rating on the stock in a report on Tuesday, September 27th. Mizuho lowered their target price on SL Green Realty from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Finally, Truist Financial lowered their target price on SL Green Realty from $59.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and a consensus target price of $56.31.

About SL Green Realty

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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.

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

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