Advisors Asset Management Inc. Has $663,000 Stock Holdings in SL Green Realty Corporation $SLG

Advisors Asset Management Inc. trimmed its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 17.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,486 shares of the real estate investment trust’s stock after selling 2,501 shares during the period. Advisors Asset Management Inc.’s holdings in SL Green Realty were worth $663,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Summit Place Financial Advisors LLC boosted its stake in shares of SL Green Realty by 149.6% during the 1st quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust’s stock worth $1,030,000 after buying an additional 10,695 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of SL Green Realty by 6.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 384 shares during the last quarter. KBC Group NV boosted its stake in shares of SL Green Realty by 20.9% during the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock worth $193,000 after buying an additional 577 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in shares of SL Green Realty by 156.1% during the 1st quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust’s stock worth $734,000 after buying an additional 7,750 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of SL Green Realty by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust’s stock worth $20,130,000 after buying an additional 6,112 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SLG shares. Scotiabank upgraded shares of SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 target price for the company in a research note on Friday, July 25th. Wall Street Zen downgraded shares of SL Green Realty from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Evercore ISI cut their target price on shares of SL Green Realty from $74.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, August 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of SL Green Realty in a research note on Friday, May 23rd. Finally, Truist Financial raised their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the company a “hold” rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.29.

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director directly owned 937 shares in the company, valued at $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.04% of the stock is owned by insiders.

SL Green Realty Stock Up 2.0%

NYSE SLG opened at $60.45 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a 50 day moving average of $58.28 and a 200-day moving average of $58.06. The company has a market cap of $4.31 billion, a price-to-earnings ratio of -111.93 and a beta of 1.74.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same period in the previous year, the business earned $2.05 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, equities research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.2575 dividend. This represents a yield of 543.0%. The ex-dividend date is Friday, August 29th. SL Green Realty’s dividend payout ratio is presently -572.22%.

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.