SL Green Realty Corp. (NYSE:SLG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 5.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 50,898 shares of the real estate investment trust’s stock after selling 2,900 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of SL Green Realty worth $3,543,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in shares of SL Green Realty by 18.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock valued at $3,665,000 after acquiring an additional 10,704 shares during the period. Edgestream Partners L.P. raised its stake in shares of SL Green Realty by 40.1% in the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after purchasing an additional 35,178 shares during the last quarter. Swedbank AB acquired a new stake in shares of SL Green Realty during the first quarter worth about $4,675,000. Waterfall Asset Management LLC purchased a new stake in SL Green Realty in the second quarter valued at approximately $3,172,000. Finally, Daiwa Securities Group Inc. increased its holdings in SL Green Realty by 13.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock worth $7,244,000 after buying an additional 14,871 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. The Goldman Sachs Group increased their price target on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI raised their target price on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, SL Green Realty has a consensus rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $78.99 on Tuesday. The firm has a 50-day simple moving average of $74.06 and a 200-day simple moving average of $64.55. 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 stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of -31.60, a price-to-earnings-growth ratio of 2.10 and a beta of 1.82. SL Green Realty Corp. has a 52 week low of $32.78 and a 52 week high of $82.81.

SL Green Realty (NYSE:SLG) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share 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 analysts’ expectations 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 last year, the business earned $1.27 earnings per share. On average, equities analysts predict that SL Green Realty Corp. will post 7.6 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty’s payout ratio is currently -120.00%.

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.