Swiss National Bank Sells 900 Shares of SL Green Realty Corp. (NYSE:SLG)

Swiss National Bank lessened its position in SL Green Realty Corp. (NYSE:SLG) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 126,598 shares of the real estate investment trust’s stock after selling 900 shares during the period. Swiss National Bank’s holdings in SL Green Realty were worth $8,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of SLG. Venturi Wealth Management LLC raised its holdings in SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 272 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of SL Green Realty during the 2nd quarter worth about $29,000. Friedenthal Financial bought a new position in shares of SL Green Realty during the 3rd quarter worth about $49,000. Rothschild Investment LLC bought a new position in shares of SL Green Realty during the 2nd quarter worth about $55,000. Finally, Blue Trust Inc. increased its holdings in shares of SL Green Realty by 363.2% during the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 632 shares during the period. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLG. Evercore ISI boosted their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. The Goldman Sachs Group boosted their price objective on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Wednesday, July 31st. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America lifted their target price on shares of SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, August 22nd. Finally, Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and lifted their target price for the company from $44.00 to $66.00 in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of “Hold” and a consensus target price of $66.00.

SL Green Realty Price Performance

NYSE:SLG opened at $78.99 on Tuesday. The firm has a market cap of $5.21 billion, a PE 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 12 month low of $32.78 and a 12 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’s 50-day moving average price is $74.06 and its two-hundred day moving average price is $64.55.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results 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). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The firm had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same quarter last year, the firm earned $1.27 earnings per share. On average, equities analysts anticipate that SL Green Realty Corp. will post 7.6 EPS 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 paid a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Friday, November 29th. SL Green Realty’s dividend payout ratio is presently -120.00%.

SL Green Realty Company 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.