IFM Investors Pty Ltd Reduces Stock Position in SL Green Realty Corporation $SLG

IFM Investors Pty Ltd trimmed its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 19.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,563 shares of the real estate investment trust’s stock after selling 2,831 shares during the period. IFM Investors Pty Ltd’s holdings in SL Green Realty were worth $716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 240 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of SL Green Realty by 2.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust’s stock worth $592,000 after buying an additional 247 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of SL Green Realty by 2.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 300 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of SL Green Realty by 1.3% in the fourth quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust’s stock worth $1,652,000 after acquiring an additional 301 shares during the period. Finally, Xponance Inc. increased its position in SL Green Realty by 6.6% during the first quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 357 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $61.70 on Wednesday. The company has a market capitalization of $4.40 billion, a P/E ratio of -114.26 and a beta of 1.74. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The firm’s 50 day simple moving average is $58.42 and its two-hundred day simple moving average is $58.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $147.54 million during the quarter, compared to analysts’ expectations of $171.24 million. During the same period in the prior year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Research analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently disclosed a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.2575 dividend. This represents a dividend yield of 502.0%. The ex-dividend date is Tuesday, September 30th. SL Green Realty’s payout ratio is presently -572.22%.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of the company’s stock in a transaction dated 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 transaction, the director owned 937 shares of the company’s stock, valued at $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Scotiabank raised SL Green Realty from a “sector perform” rating to a “sector outperform” rating and set a $71.00 target price on the stock in a research report on Friday, July 25th. Truist Financial increased their price objective on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, July 18th. Evercore ISI boosted their target price on shares of SL Green Realty from $73.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. reduced their target price on shares of SL Green Realty from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Finally, Citigroup upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $70.00 in a research note on Friday, September 12th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and an average price target of $67.79.

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.