Wealth Enhancement Advisory Services LLC Purchases 148 Shares of SL Green Realty Corp. (NYSE:SLG)

Wealth Enhancement Advisory Services LLC raised its position in SL Green Realty Corp. (NYSE:SLG) by 4.1% during the third quarter, Holdings Channel reports. The fund owned 3,769 shares of the real estate investment trust’s stock after acquiring an additional 148 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SL Green Realty were worth $262,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SLG. Allspring Global Investments Holdings LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter worth $29,000. Friedenthal Financial bought a new position in shares of SL Green Realty during the third quarter worth $49,000. Blue Trust Inc. grew its position in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 632 shares in the last quarter. Rothschild Investment LLC purchased a new position in SL Green Realty during the 2nd quarter valued at approximately $55,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in SL Green Realty by 33.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,565 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 649 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Performance

NYSE:SLG opened at $80.99 on Tuesday. The stock has a market capitalization of $5.34 billion, a PE ratio of -32.91, a P/E/G ratio of 2.13 and a beta of 1.82. The company has a fifty day moving average of $71.44 and a two-hundred day moving average of $62.49. SL Green Realty Corp. has a fifty-two week low of $29.26 and a fifty-two week high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The company had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same quarter in the previous year, the business posted $1.27 EPS. As a group, research analysts forecast that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Thursday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is -120.00%.

Wall Street Analyst Weigh In

SLG has been the topic of several recent research reports. Scotiabank increased their price target on SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Morgan Stanley increased their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. StockNews.com raised SL Green Realty to a “sell” rating in a report on Friday, July 19th. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.57.

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.