SL Green Realty Corp. (NYSE:SLG) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 23.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,981 shares of the real estate investment trust’s stock after selling 3,087 shares during the quarter. ProShare Advisors LLC’s holdings in SL Green Realty were worth $565,000 at the end of the most recent reporting period.

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

SL Green Realty Trading Up 0.1 %

Shares of NYSE:SLG opened at $69.50 on Monday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.53 billion, a PE ratio of -8.41, a P/E/G ratio of 1.98 and a beta of 1.83. SL Green Realty Corp. has a 1 year low of $28.55 and a 1 year high of $73.80. The firm has a fifty day moving average price of $65.61 and a 200 day moving average price of $57.83.

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

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.32%. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Wall Street Analyst Weigh In

SLG has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of SL Green Realty from $49.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and raised their target price for the stock from $44.00 to $66.00 in a research report on Friday, September 13th. Bank of America upped their price target on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Compass Point raised SL Green Realty from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $60.00 in a research note on Wednesday, September 18th. Finally, BMO Capital Markets increased their price target on shares of SL Green Realty from $58.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.64.

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.