SL Green Realty Corp. (NYSE:SLG) Shares Bought by MML Investors Services LLC

MML Investors Services LLC raised its position in shares of SL Green Realty Corp. (NYSE:SLG) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 6,138 shares of the real estate investment trust’s stock after acquiring an additional 161 shares during the quarter. MML Investors Services LLC’s holdings in SL Green Realty were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC raised its stake 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 purchasing an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of SL Green Realty during the second quarter worth $29,000. Point72 DIFC Ltd acquired a new stake in shares of SL Green Realty in the third quarter valued at about $35,000. Friedenthal Financial purchased a new position in shares of SL Green Realty in the third quarter worth about $49,000. Finally, Blue Trust Inc. boosted its position in 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 worth $56,000 after acquiring an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analysts Set New Price Targets

SLG has been the topic of a number of research reports. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and raised their target price for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. JPMorgan Chase & Co. raised SL Green Realty from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $80.00 in a research note on Tuesday, December 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 target price (up from $72.00) on shares of SL Green Realty in a research note on Monday, October 21st. Wells Fargo & Company boosted their price target 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. Finally, Evercore ISI upped their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.67.

SL Green Realty Trading Down 0.7 %

Shares of NYSE SLG opened at $67.53 on Tuesday. SL Green Realty Corp. has a twelve month low of $41.81 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 has a fifty day simple moving average of $75.95 and a 200-day simple moving average of $67.50. The stock has a market capitalization of $4.45 billion, a PE ratio of -27.01, a PEG ratio of 4.26 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last released its earnings results 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). The firm 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 period in the prior year, the firm earned $1.27 earnings per share. On average, equities analysts forecast that SL Green Realty Corp. will post 7.82 earnings per share for the current year.

SL Green Realty Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 dividend on an annualized basis and a yield of 4.58%. SL Green Realty’s dividend payout ratio is -123.60%.

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.