SL Green Realty Corporation $SLG Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,505,637 shares of the real estate investment trust’s stock after selling 49,340 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.11% of SL Green Realty worth $93,199,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SLG. Vanguard Group Inc. grew its stake in SL Green Realty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock valued at $641,238,000 after purchasing an additional 283,009 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of SL Green Realty by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,833,682 shares of the real estate investment trust’s stock valued at $113,518,000 after buying an additional 6,690 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of SL Green Realty by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after buying an additional 130,206 shares in the last quarter. Nuveen LLC bought a new stake in shares of SL Green Realty in the first quarter worth $87,878,000. Finally, Northern Trust Corp increased its stake in shares of SL Green Realty by 2.1% in the first quarter. Northern Trust Corp now owns 1,458,980 shares of the real estate investment trust’s stock worth $84,183,000 after buying an additional 29,344 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $47.13 on Friday. The company has a market cap of $3.36 billion, a PE ratio of 4,717.72 and a beta of 1.75. SL Green Realty Corporation has a fifty-two week low of $42.92 and a fifty-two week high of $79.51. The firm has a 50-day simple moving average of $52.86 and a 200 day simple moving average of $57.29. 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 issued its earnings results on Thursday, October 16th. The real estate investment trust reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. The company had revenue of $244.82 million during the quarter, compared to the consensus estimate of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.SL Green Realty’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. On average, sell-side analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $0.2575 per share. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, November 28th. SL Green Realty’s dividend payout ratio is presently 30,900.00%.

Insiders Place Their Bets

In other SL Green Realty 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 value of $59,115.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on SLG. Citigroup upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $70.00 in a research note on Friday, September 12th. Piper Sandler reaffirmed an “overweight” rating on shares of SL Green Realty in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their price target on SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Truist Financial set a $54.00 price objective on SL Green Realty and gave the company a “hold” rating in a report on Tuesday, October 21st. Finally, Evercore ISI reduced their target price on SL Green Realty from $72.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.33.

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.