Charles Schwab Investment Management Inc. Buys 97,653 Shares of SL Green Realty Corp. (NYSE:SLG)

Charles Schwab Investment Management Inc. grew its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 8.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,268,138 shares of the real estate investment trust’s stock after acquiring an additional 97,653 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SL Green Realty were worth $88,275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rosenberg Matthew Hamilton grew its stake in SL Green Realty by 6.6% during the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 144 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 148 shares during the period. Xponance Inc. raised its position in shares of SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 262 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in SL Green Realty by 272.0% during the third 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. Finally, Vert Asset Management LLC grew its position in SL Green Realty by 1.5% during the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after buying an additional 394 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SLG. Jefferies Financial Group raised their price target on SL Green Realty from $70.00 to $72.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company lifted their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their target price 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 equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $66.00.

SL Green Realty Trading Up 0.9 %

NYSE SLG opened at $78.85 on Thursday. The firm has a market cap of $5.20 billion, a PE ratio of -31.54, a price-to-earnings-growth ratio of 2.08 and a beta of 1.82. SL Green Realty Corp. has a 1-year low of $33.64 and a 1-year high of $82.81. The stock has a 50-day moving average of $74.38 and a 200-day moving average of $64.83. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06.

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 firm posted $1.27 EPS. As a group, sell-side analysts forecast that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 annualized dividend and a yield of 3.80%. SL Green Realty’s payout ratio is currently -120.00%.

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.