SL Green Realty Corporation (NYSE:SLG) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in SL Green Realty Corporation (NYSE:SLG) by 20.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,340 shares of the real estate investment trust’s stock after buying an additional 577 shares during the period. KBC Group NV’s holdings in SL Green Realty were worth $193,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Walleye Capital LLC acquired a new position in shares of SL Green Realty in the 4th quarter valued at about $857,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of SL Green Realty by 12.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after buying an additional 159,870 shares during the period. BNP Paribas Financial Markets acquired a new position in SL Green Realty during the 4th quarter valued at about $1,832,000. Thrivent Financial for Lutherans boosted its stake in SL Green Realty by 13.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 57,780 shares of the real estate investment trust’s stock valued at $3,924,000 after purchasing an additional 6,882 shares during the period. Finally, Vanguard Group Inc. boosted its stake in SL Green Realty by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock valued at $735,594,000 after purchasing an additional 564,822 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Down 0.8%

Shares of NYSE:SLG opened at $61.83 on Monday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of -147.20 and a beta of 1.65. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.85 and a current ratio of 2.85. The company has a 50 day moving average price of $59.49 and a 200 day moving average price of $60.53.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.13. The firm had revenue of $144.52 million during the quarter, compared to analysts’ expectations of $158.44 million. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. On average, research analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.2575 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.03 annualized dividend and a dividend yield of 1.67%. SL Green Realty’s dividend payout ratio (DPR) is presently -735.71%.

Analyst Ratings Changes

A number of research analysts have issued reports on SLG shares. Morgan Stanley boosted their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 12th. Piper Sandler reduced their price target on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Barclays reduced their price target on shares of SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Evercore ISI raised shares of SL Green Realty from an “in-line” rating to an “outperform” rating and reduced their price target for the stock from $74.00 to $73.00 in a research note on Monday, March 17th. Finally, Wells Fargo & Company reduced their price target on shares of SL Green Realty from $69.00 to $58.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, SL Green Realty has an average rating of “Hold” and a consensus target price of $66.33.

SL Green Realty Company Profile

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.