Pictet Asset Management SA Decreases Position in SL Green Realty Corp. (NYSE:SLG)

Pictet Asset Management SA decreased its stake in SL Green Realty Corp. (NYSE:SLGGet Rating) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,626 shares of the real estate investment trust’s stock after selling 1,184 shares during the period. Pictet Asset Management SA’s holdings in SL Green Realty were worth $1,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SeaCrest Wealth Management LLC purchased a new stake in shares of SL Green Realty in the second quarter worth about $47,000. Lazard Asset Management LLC boosted its position in shares of SL Green Realty by 212.7% in the second quarter. Lazard Asset Management LLC now owns 12,099 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 8,230 shares during the period. CWS Financial Advisors LLC boosted its position in shares of SL Green Realty by 38.3% in the second quarter. CWS Financial Advisors LLC now owns 9,446 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 2,615 shares during the period. State of Michigan Retirement System purchased a new stake in shares of SL Green Realty in the second quarter worth about $751,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of SL Green Realty by 464.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 20,309 shares of the real estate investment trust’s stock worth $937,000 after buying an additional 16,708 shares during the period. Hedge funds and other institutional investors own 89.19% of the company’s stock.

SL Green Realty Price Performance

Shares of NYSE:SLG opened at $41.09 on Wednesday. The company’s 50-day moving average price is $40.16 and its two-hundred day moving average price is $47.32. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34. SL Green Realty Corp. has a one year low of $35.77 and a one year high of $83.96.

SL Green Realty (NYSE:SLGGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. SL Green Realty had a negative net margin of 8.17% and a negative return on equity of 1.34%. The firm had revenue of $162.95 million for the quarter, compared to analysts’ expectations of $158.30 million. During the same period in the previous year, the firm posted $1.83 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts anticipate that SL Green Realty Corp. will post 6.71 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.311 per share. The ex-dividend date is Tuesday, November 29th. This represents a $3.73 annualized dividend and a yield of 9.08%. SL Green Realty’s dividend payout ratio (DPR) is presently -286.92%.

Analyst Ratings Changes

SLG has been the subject of several analyst reports. TheStreet downgraded SL Green Realty from a “c” rating to a “d+” rating in a research report on Thursday, October 20th. Mizuho cut their price target on SL Green Realty from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 19th. BMO Capital Markets upgraded SL Green Realty from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $60.00 to $56.00 in a research note on Thursday, September 8th. Wells Fargo & Company boosted their price target on SL Green Realty from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, StockNews.com cut SL Green Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.31.

About SL Green Realty

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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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