Swiss National Bank cut its position in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,598 shares of the real estate investment trust’s stock after selling 5,200 shares during the period. Swiss National Bank’s holdings in SL Green Realty were worth $7,042,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $25,000. CWM LLC increased its position in shares of SL Green Realty by 1,050.0% during the second quarter. CWM LLC now owns 736 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 672 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $47,000. Total Clarity Wealth Management Inc. bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $77,000. Finally, Clearstead Advisors LLC bought a new stake in shares of SL Green Realty during the first quarter valued at approximately $108,000. 89.19% of the stock is currently owned by institutional investors.
SL Green Realty Trading Up 2.6 %
Shares of SLG opened at $41.09 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 1.19. SL Green Realty Corp. has a 12-month low of $35.77 and a 12-month high of $83.96. The firm has a market capitalization of $2.64 billion, a PE ratio of -31.61 and a beta of 1.39. The stock’s fifty day simple moving average is $40.16 and its 200-day simple moving average is $47.32.
SL Green Realty Dividend Announcement
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 paid a dividend of $0.311 per share. This represents a $3.73 annualized dividend and a dividend yield of 9.08%. The ex-dividend date is Tuesday, November 29th. SL Green Realty’s dividend payout ratio (DPR) is presently -286.92%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SLG. TheStreet cut SL Green Realty from a “c” rating to a “d+” rating in a research report on Thursday, October 20th. StockNews.com cut SL Green Realty from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Wells Fargo & Company upped their price target on SL Green Realty from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday. BTIG Research lowered their price target on SL Green Realty from $105.00 to $84.00 in a research report on Wednesday, October 19th. Finally, Piper Sandler lowered their price target on SL Green Realty from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average target price of $56.31.
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.
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