Thrivent Financial for Lutherans Has $1.28 Million Position in SL Green Realty Corp. (NYSE:SLG)

Thrivent Financial for Lutherans lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG – Get Rating) by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 37,869 shares of the real estate investment trust’s stock after selling 2,887 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of SL Green Realty worth $1,277,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Hsbc Holdings PLC raised its position in shares of SL Green Realty by 58.5% during the third quarter. Hsbc Holdings PLC now owns 48,897 shares of the real estate investment trust’s stock valued at $1,960,000 after buying an additional 18,052 shares during the last quarter. Quadrature Capital Ltd acquired a new position in SL Green Realty in the third quarter worth about $805,000. FORA Capital LLC acquired a new position in SL Green Realty in the third quarter worth about $362,000. Total Clarity Wealth Management Inc. raised its position in SL Green Realty by 53.0% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 24,696 shares of the real estate investment trust’s stock worth $833,000 after purchasing an additional 8,552 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in SL Green Realty by 10.5% in the third quarter. Penserra Capital Management LLC now owns 5,274 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 82.00% of the company’s stock.

Insiders Place Their Bets

In other SL Green Realty news, Director Betsy S. Atkins sold 5,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $21.47, for a total value of $107,350.00. Following the sale, the director now directly owns 11,662 shares in the company, valued at $250,383.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Matthew J. Diliberto acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were acquired at an average cost of $16.44 per share, for a total transaction of $164,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,000 shares in the company, valued at approximately $213,720. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Betsy S. Atkins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.47, for a total transaction of $107,350.00. Following the sale, the director now owns 11,662 shares in the company, valued at $250,383.14. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

SL Green Realty Price Performance

Shares of SLG stock opened at $23.36 on Tuesday. SL Green Realty Corp. has a 52-week low of $19.06 and a 52-week high of $63.17. The stock has a market cap of $1.50 billion, a PE ratio of -10.48, a PEG ratio of 0.52 and a beta of 1.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.52 and a current ratio of 2.52. The firm’s 50 day moving average price is $23.12 and its two-hundred day moving average price is $32.18.

SL Green Realty (NYSE:SLG – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The real estate investment trust reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($2.05). The business had revenue of $223.58 million during the quarter, compared to the consensus estimate of $193.56 million. SL Green Realty had a negative net margin of 14.56% and a negative return on equity of 2.65%. SL Green Realty’s revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 earnings per share. As a group, analysts forecast that SL Green Realty Corp. will post 5.49 EPS for the current year.

SL Green Realty Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a $0.271 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This is a positive change from SL Green Realty’s previous monthly dividend of $0.27. This represents a $3.25 annualized dividend and a yield of 13.92%. SL Green Realty’s dividend payout ratio (DPR) is -145.74%.

Analyst Ratings Changes

Several research firms recently issued reports on SLG. Wells Fargo & Company dropped their price target on shares of SL Green Realty from $36.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, March 16th. Evercore ISI dropped their price target on shares of SL Green Realty from $38.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, March 27th. BMO Capital Markets increased their price target on shares of SL Green Realty from $30.00 to $32.00 in a research report on Monday, April 24th. Piper Sandler decreased their price objective on shares of SL Green Realty from $42.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 21st. Finally, Citigroup decreased their price objective on shares of SL Green Realty from $35.00 to $17.00 and set a “sell” rating on the stock in a research note on Monday, March 27th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.19.

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.