Amalgamated Bank Sells 725 Shares of SL Green Realty Corp. (NYSE:SLG)

Amalgamated Bank trimmed its position in SL Green Realty Corp. (NYSE:SLG) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 19,076 shares of the real estate investment trust’s stock after selling 725 shares during the period. Amalgamated Bank’s holdings in SL Green Realty were worth $1,328,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty in the 2nd quarter valued at $29,000. Friedenthal Financial acquired a new stake in SL Green Realty during the 3rd quarter worth $49,000. Rothschild Investment LLC acquired a new stake in SL Green Realty during the 2nd quarter worth $55,000. Blue Trust Inc. raised its stake in SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 632 shares during the period. Finally, Rosenberg Matthew Hamilton raised its stake in SL Green Realty by 6.6% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock worth $161,000 after buying an additional 144 shares during the period. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $76.32 on Thursday. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of -30.41, a PEG ratio of 2.03 and a beta of 1.82. The business has a 50-day moving average of $71.98 and a 200-day moving average of $62.89. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a fifty-two week low of $32.03 and a fifty-two week high of $82.81.

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

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, October 31st. SL Green Realty’s payout ratio is currently -120.00%.

Analyst Upgrades and Downgrades

SLG has been the topic of several research analyst reports. Evercore ISI raised their price objective on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Truist Financial raised their price objective on SL Green Realty from $47.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. Piper Sandler reissued an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, Barclays lifted their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.57.

SL Green Realty 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.