SL Green Realty Corp. (NYSE:SLG) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its position in SL Green Realty Corp. (NYSE:SLG) by 25.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,379 shares of the real estate investment trust’s stock after selling 12,885 shares during the quarter. Pathstone Holdings LLC owned approximately 0.06% of SL Green Realty worth $2,605,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SLG. Venturi Wealth Management LLC lifted its stake in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SL Green Realty during the 2nd quarter worth $29,000. Friedenthal Financial acquired a new stake in SL Green Realty during the 3rd quarter worth $49,000. Blue Trust Inc. grew its position in 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 last quarter. Finally, Rothschild Investment LLC acquired a new position in SL Green Realty in the second quarter valued at $55,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SLG shares. Evercore ISI raised their price target 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. Piper Sandler restated an “overweight” rating and set a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Compass Point set a $65.00 price target on SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price objective on shares of SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Finally, Scotiabank raised their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.00.

SL Green Realty Price Performance

SL Green Realty stock opened at $78.99 on Tuesday. 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 firm’s 50-day simple moving average is $74.06 and its 200 day simple moving average is $64.55. SL Green Realty Corp. has a 52 week low of $32.78 and a 52 week high of $82.81. The firm has a market capitalization of $5.21 billion, a PE ratio of -31.60, a P/E/G ratio of 2.10 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The company had revenue of $229.69 million for the quarter, compared to analyst estimates 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 earned $1.27 earnings per share. On average, equities research analysts predict that SL Green Realty Corp. will post 7.6 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.25 per share. 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 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.