SL Green Realty Corporation $SLG Position Increased by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in SL Green Realty Corporation (NYSE:SLG) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 543,026 shares of the real estate investment trust’s stock after buying an additional 19,844 shares during the period. Federated Hermes Inc. owned about 0.76% of SL Green Realty worth $33,613,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of SL Green Realty by 67.8% during the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 253 shares during the last quarter. MAI Capital Management boosted its position in SL Green Realty by 25.9% during the 2nd quarter. MAI Capital Management now owns 988 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 203 shares during the period. Allworth Financial LP grew its stake in SL Green Realty by 2,432.8% during the 2nd quarter. Allworth Financial LP now owns 1,697 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 1,630 shares during the last quarter. State of Wyoming acquired a new stake in SL Green Realty in the first quarter worth $172,000. Finally, Profund Advisors LLC bought a new stake in SL Green Realty in the second quarter valued at $210,000. Institutional investors and hedge funds own 89.96% of the company’s stock.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of SL Green Realty stock in a transaction that occurred on Thursday, September 11th. The stock was 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 SEC, which is available at this link. 5.04% of the stock is currently owned by company insiders.

SL Green Realty Stock Up 2.1%

Shares of SL Green Realty stock opened at $42.42 on Wednesday. The business has a fifty day simple moving average of $50.60 and a 200 day simple moving average of $56.66. The stock has a market cap of $3.03 billion, a PE ratio of 4,246.45 and a beta of 1.61. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.03. SL Green Realty Corporation has a 12 month low of $40.26 and a 12 month high of $78.37.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.24. The business had revenue of $244.82 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%. SL Green Realty’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. Research analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 7.3%. SL Green Realty’s dividend payout ratio (DPR) is currently 30,900.00%.

Analysts Set New Price Targets

SLG has been the topic of a number of analyst reports. BMO Capital Markets dropped their price objective on shares of SL Green Realty from $63.00 to $60.00 and set an “outperform” rating on the stock in a report on Monday. JPMorgan Chase & Co. raised 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 note on Thursday, October 9th. Wells Fargo & Company reduced their price objective on SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, October 27th. Evercore ISI set a $54.00 price objective on SL Green Realty and gave the stock an “outperform” rating in a report on Monday. Finally, UBS Group set a $47.00 target price on SL Green Realty in a research note on Monday. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.67.

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.