Charles Schwab Investment Management Inc. Purchases 97,653 Shares of SL Green Realty Corp. (NYSE:SLG)

Charles Schwab Investment Management Inc. lifted its position in shares of SL Green Realty Corp. (NYSE:SLG) by 8.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,268,138 shares of the real estate investment trust’s stock after purchasing an additional 97,653 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.92% of SL Green Realty worth $88,275,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC raised its holdings in SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in SL Green Realty in the 2nd quarter valued at about $29,000. Friedenthal Financial acquired a new position in SL Green Realty during the 3rd quarter valued at about $49,000. Rothschild Investment LLC bought a new stake in SL Green Realty during the 2nd quarter worth approximately $55,000. Finally, Blue Trust Inc. raised its stake in shares of SL Green Realty by 363.2% in the third 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 last quarter. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

NYSE:SLG opened at $78.85 on Thursday. The company has a market capitalization of $5.20 billion, a P/E ratio of -31.54, a P/E/G ratio of 2.08 and a beta of 1.82. The business has a fifty day simple moving average of $74.38 and a two-hundred day simple moving average of $64.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a 1 year low of $33.64 and a 1 year high of $82.81.

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

SL Green Realty Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors 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 dividend payout ratio (DPR) is presently -120.00%.

Analysts Set New Price Targets

Several research analysts recently issued reports on SLG shares. Citigroup raised 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. Wells Fargo & Company upped their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. The Goldman Sachs Group raised their price target on shares of SL Green Realty from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $87.00 target price (up previously from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $66.00.

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.