SL Green Realty Corporation $SLG Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. cut its stake in SL Green Realty Corporation (NYSE:SLG) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,896 shares of the real estate investment trust’s stock after selling 2,029 shares during the period. Asset Management One Co. Ltd. owned approximately 0.14% of SL Green Realty worth $6,245,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SLG. State of Wyoming acquired a new stake in shares of SL Green Realty in the first quarter worth approximately $172,000. KBC Group NV lifted its position in SL Green Realty by 20.9% during the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 577 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in SL Green Realty by 13.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 466 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in SL Green Realty during the second quarter valued at approximately $225,000. Finally, United Services Automobile Association acquired a new position in SL Green Realty during the first quarter valued at approximately $253,000. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Up 1.0%

SLG opened at $53.27 on Wednesday. The firm has a market capitalization of $3.80 billion, a P/E ratio of 5,332.53 and a beta of 1.77. The firm’s 50 day moving average is $58.06 and its 200-day moving average is $58.19. 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 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 1.04.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLG shares. New Street Research set a $72.00 price target on shares of SL Green Realty in a research report on Thursday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Truist Financial set a $54.00 price target 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 started coverage on shares of SL Green Realty in a research report on Monday, October 13th. They set a “neutral” rating and a $63.00 price target on the stock. Finally, Evercore ISI reduced their price target on shares of SL Green Realty from $72.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $64.40.

Insider Activity

In related news, Director Carol N. Brown sold 937 shares of SL Green Realty 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.04% of the stock is owned by corporate insiders.

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.