Mitsubishi UFJ Trust & Banking Corp Increases Stock Position in SL Green Realty Corp. (NYSE:SLG)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of SL Green Realty Corp. (NYSE:SLGGet Rating) by 61.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,236 shares of the real estate investment trust’s stock after buying an additional 4,658 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in SL Green Realty were worth $565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in SL Green Realty by 1.0% during the first quarter. California Public Employees Retirement System now owns 148,847 shares of the real estate investment trust’s stock valued at $12,083,000 after buying an additional 1,420 shares during the period. M&T Bank Corp raised its position in shares of SL Green Realty by 1,935.0% in the 2nd quarter. M&T Bank Corp now owns 7,204 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 6,850 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of SL Green Realty in the 2nd quarter worth about $4,747,000. Retirement Systems of Alabama raised its position in shares of SL Green Realty by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 84,473 shares of the real estate investment trust’s stock worth $3,898,000 after purchasing an additional 359 shares during the last quarter. Finally, Intersect Capital LLC raised its position in shares of SL Green Realty by 56.5% in the 1st quarter. Intersect Capital LLC now owns 13,640 shares of the real estate investment trust’s stock worth $1,107,000 after purchasing an additional 4,923 shares during the last quarter. Hedge funds and other institutional investors own 89.19% of the company’s stock.

SL Green Realty Stock Performance

NYSE:SLG opened at $40.03 on Tuesday. The stock’s fifty day moving average is $40.26 and its 200 day moving average is $47.52. SL Green Realty Corp. has a fifty-two week low of $35.77 and a fifty-two week high of $83.96. The firm has a market capitalization of $2.57 billion, a PE ratio of -30.79 and a beta of 1.39. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.34 and a current ratio of 2.34.

SL Green Realty (NYSE:SLGGet Rating) last released its quarterly earnings results on Thursday, October 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $162.95 million for the quarter, compared to analyst estimates of $158.30 million. SL Green Realty had a negative return on equity of 1.34% and a negative net margin of 8.17%. SL Green Realty’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. On average, sell-side analysts anticipate that SL Green Realty Corp. will post 6.72 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.311 per share. This represents a $3.73 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date of this dividend is Tuesday, November 29th. SL Green Realty’s payout ratio is -286.92%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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. Evercore ISI cut their price target on SL Green Realty from $54.00 to $51.00 and set an “in-line” rating for the company in a research note on Tuesday, September 27th. BTIG Research cut their price objective on SL Green Realty from $105.00 to $84.00 in a research note on Wednesday, October 19th. Truist Financial cut their price objective on SL Green Realty from $59.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, October 25th. Finally, TheStreet cut SL Green Realty from a “c” rating to a “d+” rating in a report on Thursday, October 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.15.

SL Green Realty Company 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.

Further Reading

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

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