SL Green Realty Corporation (NYSE:SLG) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of SL Green Realty Corporation (NYSE:SLG) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,113,302 shares of the real estate investment trust’s stock after purchasing an additional 283,009 shares during the period. Vanguard Group Inc. owned 15.59% of SL Green Realty worth $641,238,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of SL Green Realty in the fourth quarter worth approximately $75,000. GF Fund Management CO. LTD. acquired a new stake in shares of SL Green Realty in the fourth quarter worth approximately $80,000. Sterling Capital Management LLC boosted its position in shares of SL Green Realty by 909.4% in the fourth quarter. Sterling Capital Management LLC now owns 2,261 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 2,037 shares during the last quarter. Norinchukin Bank The boosted its position in shares of SL Green Realty by 6.6% in the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 192 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock worth $193,000 after acquiring an additional 577 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Up 3.4%

SLG opened at $55.60 on Thursday. The firm has a market capitalization of $3.96 billion, a P/E ratio of -102.96 and a beta of 1.69. The firm’s 50 day moving average is $60.84 and its 200-day moving average is $59.18. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a quick ratio of 2.85, a current ratio of 2.72 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.26. The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. Analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a $0.2575 dividend. This represents a dividend yield of 510.0%. The ex-dividend date is Thursday, July 31st. SL Green Realty’s payout ratio is -572.22%.

Wall Street Analyst Weigh In

SLG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of SL Green Realty in a research report on Friday, May 23rd. Truist Financial raised their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a report on Friday, July 18th. Piper Sandler cut their price target on shares of SL Green Realty from $90.00 to $72.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Scotiabank upgraded shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 price target on the stock in a report on Friday, July 25th. Finally, Barclays cut their price target on shares of SL Green Realty from $76.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.29.

Insider Activity

In related news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction on Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.04% of the company’s stock.

SL Green Realty 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.