Natixis Advisors LLC Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

Natixis Advisors LLC grew its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 10.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,764 shares of the real estate investment trust’s stock after acquiring an additional 2,145 shares during the period. Natixis Advisors LLC’s holdings in SL Green Realty were worth $1,233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in SL Green Realty by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock valued at $572,524,000 after purchasing an additional 60,032 shares during the period. Wellington Management Group LLP boosted its holdings in shares of SL Green Realty by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after buying an additional 78,322 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of SL Green Realty by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,383 shares of the real estate investment trust’s stock worth $46,271,000 after purchasing an additional 30,289 shares in the last quarter. Bank of New York Mellon Corp increased its stake in SL Green Realty by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock valued at $45,906,000 after purchasing an additional 14,167 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position 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 valued at $44,067,000 after acquiring an additional 158,268 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Up 2.4 %

SL Green Realty stock opened at $64.19 on Wednesday. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -7.77, a price-to-earnings-growth ratio of 1.97 and a beta of 1.83. SL Green Realty Corp. has a 52 week low of $28.55 and a 52 week high of $68.92. The business’s 50-day moving average price is $62.76 and its 200 day moving average price is $55.95. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. The business had revenue of $222.82 million for the quarter, compared to the consensus estimate of $133.83 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 earnings per share. As a group, sell-side analysts anticipate that SL Green Realty Corp. will post 7.58 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.67%. SL Green Realty’s dividend payout ratio is presently -36.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SLG shares. Scotiabank boosted 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 report on Wednesday, August 7th. StockNews.com raised SL Green Realty to a “sell” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their price objective on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Citigroup upped their target price on SL Green Realty from $31.00 to $37.00 and gave the stock a “sell” rating in a report on Thursday, June 13th. Finally, BMO Capital Markets upped their price objective on SL Green Realty from $58.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus 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.