SL Green Realty Corporation $SLG Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in SL Green Realty Corporation (NYSE:SLG) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,841 shares of the real estate investment trust’s stock after selling 7,465 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of SL Green Realty worth $3,271,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of SL Green Realty during the 1st quarter valued at about $87,878,000. Vanguard Group Inc. lifted its position in shares of SL Green Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock worth $641,238,000 after buying an additional 283,009 shares during the last quarter. Vision Capital Corp acquired a new position in SL Green Realty during the 1st quarter valued at approximately $11,540,000. Aberdeen Group plc boosted its position in SL Green Realty by 633.1% during the 1st quarter. Aberdeen Group plc now owns 162,294 shares of the real estate investment trust’s stock valued at $9,364,000 after purchasing an additional 140,157 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in SL Green Realty by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock valued at $97,851,000 after purchasing an additional 130,206 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 937 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $63.09, for a total transaction of $59,115.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLG. Weiss Ratings reiterated a “sell (d+)” rating on shares of SL Green Realty in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on SL Green Realty from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Scotiabank raised 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 research report on Friday, July 25th. Citigroup raised SL Green Realty from a “neutral” rating to a “buy” rating and upped their target price for the stock from $65.00 to $70.00 in a research report on Friday, September 12th. Finally, Truist Financial upped their target price on SL Green Realty from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $67.79.

SL Green Realty Price Performance

Shares of SLG stock opened at $58.07 on Thursday. The stock has a 50 day moving average of $58.32 and a two-hundred day moving average of $58.18. 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 12 month low of $45.15 and a 12 month high of $82.81. The company has a market capitalization of $4.14 billion, a P/E ratio of -107.54 and a beta of 1.77.

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, topping analysts’ consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The company had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same quarter last year, the company earned $2.05 EPS. The company’s quarterly 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. As a group, equities analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently announced a sep 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a dividend yield of 517.0%. 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.