OVERSEA CHINESE BANKING Corp Ltd Has $3.83 Million Holdings in SL Green Realty Corporation $SLG

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in SL Green Realty Corporation (NYSE:SLG) by 66.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,912 shares of the real estate investment trust’s stock after purchasing an additional 24,767 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in SL Green Realty were worth $3,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SLG. Envestnet Portfolio Solutions Inc. grew its stake in shares of SL Green Realty by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 466 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of SL Green Realty by 6.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 384 shares in the last quarter. KBC Group NV grew its stake in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 577 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of SL Green Realty in the first quarter valued at $601,000. Finally, Principal Financial Group Inc. grew its stake in shares of SL Green Realty by 1.8% in the first quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust’s stock valued at $20,130,000 after buying an additional 6,112 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLG. LADENBURG THALM/SH SH began coverage on shares of SL Green Realty in a research note on Monday, October 13th. They issued a “neutral” rating and a $63.00 target price for the company. Evercore ISI decreased their target price on shares of SL Green Realty from $72.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Bank of America reduced their price objective on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Piper Sandler reaffirmed an “overweight” rating on shares of SL Green Realty in a research report on Wednesday. Finally, Citigroup raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $70.00 in a research report on Friday, September 12th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $64.67.

Insider Activity

In other news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.04% of the company’s stock.

SL Green Realty Trading Up 0.2%

SLG stock opened at $51.88 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The company has a fifty day moving average price of $58.13 and a two-hundred day moving average price of $58.15. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 5,192.99 and a beta of 1.77.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.24. The firm had revenue of $149.67 million during the quarter, compared to analysts’ expectations of $170.27 million. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 earnings per share. Equities analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $0.2575 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty’s payout ratio is presently 30,900.00%.

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.