SL Green Realty Corp. (NYSE:SLG) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lessened its position in shares of SL Green Realty Corp. (NYSE:SLG) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,455 shares of the real estate investment trust’s stock after selling 7,293 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.11% of SL Green Realty worth $4,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of SL Green Realty by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock valued at $572,524,000 after acquiring an additional 60,032 shares during the period. Dimensional Fund Advisors LP increased its position in shares of SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after buying an additional 88,309 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SL Green Realty by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock worth $45,906,000 after buying an additional 14,167 shares during the period. Russell Investments Group Ltd. lifted its position in shares of SL Green Realty by 24.7% during the 1st quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock valued at $44,067,000 after buying an additional 158,268 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in SL Green Realty by 8.2% in 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 acquiring an additional 32,985 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $90.00 target price (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their target price on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Barclays lifted their price target on SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Finally, Compass Point set a $65.00 target price on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Friday, October 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.57.

SL Green Realty Stock Performance

SL Green Realty stock opened at $75.62 on Friday. The firm has a 50 day simple moving average of $70.01 and a 200-day simple moving average of $61.14. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -30.25, a price-to-earnings-growth ratio of 2.02 and a beta of 1.83. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59. SL Green Realty Corp. has a 1-year low of $28.55 and a 1-year high of $79.92.

SL Green Realty (NYSE:SLG) last issued 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 return on equity of 3.76% and a negative net margin of 16.78%. The business had revenue of $229.69 million during the quarter, compared to analysts’ expectations of $136.66 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.25 dividend. The ex-dividend date is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 3.97%. SL Green Realty’s dividend payout ratio (DPR) is currently -120.00%.

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.