Commonwealth Equity Services LLC Boosts Stake in SL Green Realty Corp. (NYSE:SLG)

Commonwealth Equity Services LLC lifted its holdings in SL Green Realty Corp. (NYSE:SLG) by 2.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 29,770 shares of the real estate investment trust’s stock after purchasing an additional 799 shares during the period. Commonwealth Equity Services LLC’s holdings in SL Green Realty were worth $1,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in SL Green Realty during the 2nd quarter valued at $29,000. Rothschild Investment LLC purchased a new position in SL Green Realty in the 2nd quarter worth $55,000. Fidelis Capital Partners LLC purchased a new position in SL Green Realty in the 1st quarter worth $55,000. GAMMA Investing LLC raised its stake in shares of SL Green Realty by 6.3% during the 1st quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 196 shares during the last quarter. Finally, Meeder Advisory Services Inc. purchased a new position in shares of SL Green Realty during the 1st quarter valued at about $201,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE:SLG opened at $69.40 on Friday. The company has a fifty day simple moving average of $63.49 and a two-hundred day simple moving average of $56.34. The company has a market cap of $4.52 billion, a price-to-earnings ratio of -8.40, a price-to-earnings-growth ratio of 2.11 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. SL Green Realty Corp. has a 52 week low of $28.55 and a 52 week high of $71.31.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $222.82 million during the quarter, compared to the consensus estimate of $133.83 million. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The company’s revenue was down 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that SL Green Realty Corp. will post 7.58 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.32%. SL Green Realty’s payout ratio is -36.32%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SLG shares. BMO Capital Markets raised their target price on SL Green Realty from $58.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Truist Financial boosted their target price on SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. The Goldman Sachs Group lifted their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on SL Green Realty from $54.00 to $55.00 and gave the company an “underperform” rating in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued 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 $56.50.

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.