Nisa Investment Advisors LLC Sells 548 Shares of SL Green Realty Corp. (NYSE:SLG)

Nisa Investment Advisors LLC trimmed its position in shares of SL Green Realty Corp. (NYSE:SLG) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,474 shares of the real estate investment trust’s stock after selling 548 shares during the period. Nisa Investment Advisors LLC owned 0.19% of SL Green Realty worth $8,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SLG. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 148 shares during the period. Xponance Inc. boosted its holdings in shares of SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after acquiring an additional 262 shares during the period. Vert Asset Management LLC boosted its holdings in shares of SL Green Realty by 1.5% in the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust’s stock worth $1,873,000 after acquiring an additional 394 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of SL Green Realty by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 32,600 shares of the real estate investment trust’s stock worth $1,846,000 after acquiring an additional 500 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of SL Green Realty in the second quarter worth $29,000. 89.96% of the stock is owned by institutional investors.

SL Green Realty Stock Up 0.5 %

SLG opened at $77.88 on Thursday. The company has a market cap of $5.07 billion, a P/E ratio of -31.15, a P/E/G ratio of 2.02 and a beta of 1.83. The business’s 50-day moving average price is $69.78 and its 200-day moving average price is $61.04. The company has a current ratio of 2.58, a quick ratio of 2.59 and a debt-to-equity ratio of 1.07. SL Green Realty Corp. has a 12 month low of $28.55 and a 12 month high of $79.92.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). The company 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 quarter in the prior year, the firm posted $1.27 EPS. On average, equities analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a dividend yield of 3.85%. SL Green Realty’s dividend payout ratio is currently -120.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SLG. Wells Fargo & Company increased their price objective on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Barclays increased their price objective on SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $44.00 to $66.00 in a research report on Friday, September 13th. Evercore ISI increased their price objective on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Finally, Bank of America increased their price objective on SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.