Sumitomo Mitsui Trust Group Inc. Sells 2,112 Shares of SL Green Realty Corp. (NYSE:SLG)

Sumitomo Mitsui Trust Group Inc. cut its stake in SL Green Realty Corp. (NYSE:SLG) by 2.9% in the third quarter, HoldingsChannel reports. The fund owned 70,209 shares of the real estate investment trust’s stock after selling 2,112 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in SL Green Realty were worth $4,887,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLG. Lighthouse Investment Partners LLC raised its stake in shares of SL Green Realty by 150.0% in the second quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust’s stock worth $8,496,000 after acquiring an additional 90,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of SL Green Realty by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after buying an additional 88,309 shares during the period. Swedbank AB acquired a new stake in shares of SL Green Realty during the 1st quarter worth approximately $4,675,000. State Board of Administration of Florida Retirement System grew its position in shares of SL Green Realty by 411.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 85,924 shares of the real estate investment trust’s stock worth $4,737,000 after buying an additional 69,119 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of SL Green Realty by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock worth $572,524,000 after buying an additional 60,032 shares during the period. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Up 1.0 %

SL Green Realty stock opened at $76.36 on Tuesday. The stock has a market capitalization of $5.03 billion, a PE ratio of -30.26, a price-to-earnings-growth ratio of 2.00 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $32.78 and a twelve month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average of $72.72 and a 200-day moving average of $63.43.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The business had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period in the prior year, the firm earned $1.27 EPS. On average, equities research analysts anticipate that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Thursday, October 31st. SL Green Realty’s dividend payout ratio is presently -120.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price target on shares of SL Green Realty from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Finally, Barclays boosted their price objective on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, SL Green Realty currently has a consensus rating of “Hold” and a consensus price target of $65.57.

SL Green Realty Profile

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.