Glenmede Trust Co. NA Grows Position in SL Green Realty Corp. (NYSE:SLG)

Glenmede Trust Co. NA raised its position in shares of SL Green Realty Corp. (NYSE:SLG) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,721 shares of the real estate investment trust’s stock after buying an additional 2,337 shares during the quarter. Glenmede Trust Co. NA’s holdings in SL Green Realty were worth $1,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its position in SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in SL Green Realty in the 2nd quarter worth approximately $29,000. Friedenthal Financial purchased a new position in shares of SL Green Realty during the third quarter worth $49,000. Rothschild Investment LLC purchased a new stake in shares of SL Green Realty in the second quarter worth about $55,000. Finally, Blue Trust Inc. increased its holdings in shares of 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 valued at $56,000 after purchasing an additional 632 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Trading Down 3.2 %

Shares of SLG opened at $75.72 on Tuesday. The firm has a market capitalization of $4.99 billion, a P/E ratio of -30.29, a price-to-earnings-growth ratio of 3.82 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $39.66 and a twelve month high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $74.71 and its 200 day simple moving average is $65.41.

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

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 3.96%. SL Green Realty’s dividend payout ratio is presently -120.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SLG shares. Wells Fargo & Company lifted their price objective on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Compass Point set a $65.00 price target on shares of SL Green Realty and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Jefferies Financial Group lifted their target price on SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $66.00.

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.