SL Green Realty Corporation $SLG Shares Acquired by Ethic Inc.

Ethic Inc. increased its stake in SL Green Realty Corporation (NYSE:SLG) by 29.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,939 shares of the real estate investment trust’s stock after acquiring an additional 1,797 shares during the period. Ethic Inc.’s holdings in SL Green Realty were worth $490,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SLG. State of Wyoming purchased a new position in SL Green Realty in the first quarter valued at approximately $172,000. KBC Group NV increased its stake 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 buying an additional 577 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of SL Green Realty by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 466 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of SL Green Realty in the second quarter worth $225,000. Finally, United Services Automobile Association acquired a new position in SL Green Realty in the first quarter worth $253,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLG. Piper Sandler reissued an “overweight” rating on shares of SL Green Realty in a report on Wednesday, October 22nd. Truist Financial set a $54.00 target price on shares of SL Green Realty and gave the company a “hold” rating in a research report on Tuesday, October 21st. LADENBURG THALM/SH SH assumed coverage on shares of SL Green Realty in a report on Monday, October 13th. They issued a “neutral” rating and a $63.00 price target for the company. Citigroup raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and upped their price target for the company from $65.00 to $70.00 in a report on Friday, September 12th. Finally, Bank of America cut their price target on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.40.

Insider Activity

In other news, Director Carol N. Brown sold 937 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.04% of the company’s stock.

SL Green Realty Price Performance

NYSE SLG opened at $53.27 on Wednesday. The company has a 50 day simple moving average of $58.06 and a 200-day simple moving average of $58.19. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 5,332.53 and a beta of 1.77. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81.

SL Green Realty (NYSE:SLG) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The business had revenue of $149.67 million during the quarter, compared to analyst estimates of $170.27 million. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict 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 declared a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a dividend of $0.2575 per share. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is 30,900.00%.

About SL Green Realty

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.