Amalgamated Bank Has $3.65 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Amalgamated Bank cut its stake in shares of SL Green Realty Corp. (NYSE:SLGGet Rating) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,975 shares of the real estate investment trust’s stock after selling 2,914 shares during the period. Amalgamated Bank’s holdings in SL Green Realty were worth $3,651,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SLG. State Street Corp lifted its position in shares of SL Green Realty by 12.2% in the first quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust’s stock valued at $314,295,000 after buying an additional 419,067 shares during the last quarter. abrdn plc lifted its position in shares of SL Green Realty by 933.9% in the first quarter. abrdn plc now owns 273,848 shares of the real estate investment trust’s stock valued at $22,419,000 after buying an additional 247,360 shares during the last quarter. Advisors Capital Management LLC acquired a new stake in shares of SL Green Realty in the first quarter valued at approximately $17,338,000. Wellington Management Group LLP lifted its position in shares of SL Green Realty by 20.6% in the first quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust’s stock valued at $97,200,000 after buying an additional 204,750 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of SL Green Realty by 95.3% in the first quarter. Prudential Financial Inc. now owns 272,391 shares of the real estate investment trust’s stock valued at $22,114,000 after buying an additional 132,924 shares during the last quarter. 89.19% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Trading Down 2.8 %

Shares of SLG stock opened at $42.86 on Friday. The stock’s fifty day moving average price is $47.28 and its two-hundred day moving average price is $59.18. The company has a market cap of $2.76 billion, a PE ratio of 9.49 and a beta of 1.47. SL Green Realty Corp. has a fifty-two week low of $42.55 and a fifty-two week high of $83.96. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.20 and a current ratio of 2.20.

SL Green Realty (NYSE:SLGGet Rating) last issued its earnings results on Wednesday, July 20th. The real estate investment trust reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.76). The business 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%. The company’s revenue for the quarter was down 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.65 EPS. Equities analysts predict that SL Green Realty Corp. will post 6.75 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a dividend of $0.3108 per share. This represents a $3.73 annualized dividend and a dividend yield of 8.70%. The ex-dividend date is Thursday, September 29th. SL Green Realty’s dividend payout ratio (DPR) is 82.60%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SLG shares. Wells Fargo & Company cut their price objective on SL Green Realty from $48.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 30th. Piper Sandler lowered their target price on SL Green Realty to $52.00 in a research note on Friday, July 22nd. Truist Financial upgraded SL Green Realty from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft lowered their target price on SL Green Realty from $81.00 to $57.00 in a research note on Wednesday, July 20th. Finally, Jefferies Financial Group lowered their target price on SL Green Realty from $78.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.

See Also

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

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