Bank of New York Mellon Corp Purchases 14,167 Shares of SL Green Realty Corp. (NYSE:SLG)

Bank of New York Mellon Corp increased its position in shares of SL Green Realty Corp. (NYSE:SLG) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 810,490 shares of the real estate investment trust’s stock after acquiring an additional 14,167 shares during the period. Bank of New York Mellon Corp owned approximately 1.23% of SL Green Realty worth $45,906,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in SL Green Realty in the 4th quarter worth approximately $18,664,000. Prospect Financial Services LLC purchased a new position in SL Green Realty in the 4th quarter worth approximately $12,373,000. Kettle Hill Capital Management LLC purchased a new position in SL Green Realty in the 4th quarter worth approximately $11,832,000. Russell Investments Group Ltd. grew its stake in SL Green Realty by 24.7% in the 1st quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock worth $44,067,000 after buying an additional 158,268 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in SL Green Realty by 148.0% in the 4th quarter. Allianz Asset Management GmbH now owns 259,027 shares of the real estate investment trust’s stock worth $11,700,000 after buying an additional 154,578 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Down 0.1 %

Shares of SLG opened at $66.64 on Monday. The stock has a market capitalization of $4.34 billion, a P/E ratio of -8.07, a PEG ratio of 2.09 and a beta of 1.83. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $61.57 and a two-hundred day simple moving average of $55.08. SL Green Realty Corp. has a twelve month low of $28.55 and a twelve month high of $68.92.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.09. SL Green Realty had a negative net margin of 19.31% and a negative return on equity of 3.92%. The business had revenue of $222.82 million during the quarter, compared to analyst estimates of $133.83 million. During the same period in the prior year, the business earned $1.43 EPS. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, research analysts anticipate that SL Green Realty Corp. will post 7.58 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 30th. This represents a $3.00 annualized dividend and a yield of 4.50%. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Analyst Ratings Changes

SLG has been the subject of a number of research reports. Truist Financial boosted their price target on shares of SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Barclays upped their price objective on shares of SL Green Realty from $49.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. BMO Capital Markets upped their price objective on shares of SL Green Realty from $58.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Scotiabank upped their price objective on shares of SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 7th. Finally, Bank of America upped their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $53.77.

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.