Principal Financial Group Inc. Has $14.54 Million Position in SL Green Realty Corp. (NYSE:SLG)

Principal Financial Group Inc. lifted its holdings in SL Green Realty Corp. (NYSE:SLGGet Rating) by 0.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 314,964 shares of the real estate investment trust’s stock after acquiring an additional 716 shares during the quarter. Principal Financial Group Inc.’s holdings in SL Green Realty were worth $14,536,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SLG. Confluence Investment Management LLC grew its stake in shares of SL Green Realty by 54.3% in the second 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 grew its stake 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 acquiring an additional 419,067 shares in the last quarter. Advisors Capital Management LLC acquired a new position in shares of SL Green Realty in the first quarter valued at about $17,338,000. Wellington Management Group LLP grew its stake 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 acquiring an additional 204,750 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake 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 acquiring an additional 132,924 shares in the last quarter. 89.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of SL Green Realty from $57.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. Evercore ISI reduced their price objective on shares of SL Green Realty from $54.00 to $51.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 27th. BTIG Research reduced their price objective on shares of SL Green Realty from $105.00 to $84.00 in a research note on Wednesday, October 19th. TheStreet downgraded shares of SL Green Realty from a “c” rating to a “d+” rating in a research note on Thursday, October 20th. Finally, Morgan Stanley reduced their price objective on shares of SL Green Realty from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Wednesday. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.85.

SL Green Realty Stock Down 0.8 %

SLG stock opened at $40.78 on Friday. The stock has a market capitalization of $2.62 billion, a P/E ratio of -31.37 and a beta of 1.39. The company has a current ratio of 2.34, a quick 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 50-day moving average price of $39.95 and a 200-day moving average price of $47.23.

SL Green Realty (NYSE:SLGGet Rating) last posted its earnings results on Thursday, October 20th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $162.95 million during the quarter, compared to analysts’ expectations of $158.30 million. SL Green Realty had a negative net margin of 8.17% and a negative return on equity of 1.34%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 earnings per share. As a group, equities research analysts anticipate that SL Green Realty Corp. will post 6.71 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.311 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $3.73 dividend on an annualized basis and a yield of 9.15%. SL Green Realty’s dividend payout ratio (DPR) is presently -286.92%.

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.

See Also

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

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