Hsbc Holdings PLC Increases Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Hsbc Holdings PLC boosted its stake in SL Green Realty Corp. (NYSE:SLG) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,732 shares of the real estate investment trust’s stock after acquiring an additional 4,794 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of SL Green Realty worth $3,267,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its position in SL Green Realty by 40.1% in the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock valued at $6,960,000 after buying an additional 35,178 shares during the last quarter. Quantbot Technologies LP grew its stake in SL Green Realty by 28.1% during the 2nd quarter. Quantbot Technologies LP now owns 106,360 shares of the real estate investment trust’s stock valued at $6,024,000 after purchasing an additional 23,314 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in SL Green Realty by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after purchasing an additional 88,309 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of SL Green Realty by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 39,786 shares of the real estate investment trust’s stock valued at $2,253,000 after purchasing an additional 557 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of SL Green Realty by 8.2% during the 2nd quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust’s stock valued at $24,576,000 after buying an additional 32,985 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLG. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and upped their price target for the company from $44.00 to $66.00 in a report on Friday, September 13th. Barclays increased their price target on shares of SL Green Realty from $49.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group boosted their price objective on SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a report on Wednesday, July 31st. Scotiabank increased their target price on SL Green Realty from $53.00 to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.64.

SL Green Realty Trading Down 1.8 %

Shares of NYSE:SLG opened at $70.22 on Thursday. SL Green Realty Corp. has a fifty-two week low of $28.55 and a fifty-two week high of $73.80. 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 company has a market cap of $4.62 billion, a PE ratio of -8.50, a P/E/G ratio of 2.25 and a beta of 1.83. The company’s 50-day moving average price is $65.27 and its 200 day moving average price is $57.57.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The firm had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $133.83 million. During the same period last year, the firm earned $1.43 EPS. The firm’s revenue was down 9.4% compared to the same quarter last year. 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 announced a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.27%. SL Green Realty’s dividend payout ratio is presently -36.32%.

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.