Redpoint Investment Management Pty Ltd Sells 2,031 Shares of SL Green Realty Corp. (NYSE:SLG)

Redpoint Investment Management Pty Ltd trimmed its stake in SL Green Realty Corp. (NYSE:SLGGet Rating) by 28.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,207 shares of the real estate investment trust’s stock after selling 2,031 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in SL Green Realty were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SLG. Confluence Investment Management LLC raised its stake in shares of SL Green Realty by 54.3% in the 2nd quarter. Confluence Investment Management LLC now owns 2,079,154 shares of the real estate investment trust’s stock valued at $95,953,000 after acquiring an additional 731,500 shares in the last quarter. State Street Corp raised its stake in shares of SL Green Realty by 12.2% in the 1st quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock valued at $314,295,000 after acquiring an additional 419,067 shares in the last quarter. abrdn plc increased its position in SL Green Realty by 933.9% in the 1st quarter. abrdn plc now owns 273,848 shares of the real estate investment trust’s stock worth $22,419,000 after buying an additional 247,360 shares during the period. Advisors Capital Management LLC bought a new position in SL Green Realty in the 1st quarter worth approximately $17,338,000. Finally, Wellington Management Group LLP increased its position in SL Green Realty by 20.6% in the 1st quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust’s stock worth $97,200,000 after buying an additional 204,750 shares during the period. 89.19% of the stock is owned by institutional investors.

SL Green Realty Stock Up 2.4 %

Shares of NYSE:SLG opened at $46.90 on Monday. The company has a market capitalization of $3.02 billion, a PE ratio of 10.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.20 and a current ratio of 2.20. The company’s fifty day moving average is $47.27 and its 200-day moving average is $59.60. SL Green Realty Corp. has a 52 week low of $42.74 and a 52 week high of $83.96.

SL Green Realty (NYSE:SLGGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.76). The firm had revenue of $155.20 million during the quarter, compared to analyst estimates of $157.74 million. SL Green Realty had a net margin of 40.01% and a return on equity of 6.35%. SL Green Realty’s quarterly revenue was down 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. Equities research analysts predict that SL Green Realty Corp. will post 6.75 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.3108 per share. The ex-dividend date was Tuesday, August 30th. This represents a $3.73 dividend on an annualized basis and a yield of 7.95%. SL Green Realty’s dividend payout ratio is 82.60%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SLG shares. Piper Sandler dropped their price target on SL Green Realty to $52.00 in a research report on Friday, July 22nd. Morgan Stanley lifted their price target on SL Green Realty from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, September 9th. Deutsche Bank Aktiengesellschaft dropped their price target on SL Green Realty from $81.00 to $57.00 in a research report on Wednesday, July 20th. Jefferies Financial Group lowered their price objective on SL Green Realty from $78.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Finally, Truist Financial raised SL Green Realty from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Wednesday, September 14th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.00.

SL Green Realty Profile

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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.

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Institutional Ownership by Quarter for SL Green Realty (NYSE:SLG)

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