Swiss National Bank Sells 3,400 Shares of SL Green Realty Corporation $SLG

Swiss National Bank decreased its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 2.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 135,598 shares of the real estate investment trust’s stock after selling 3,400 shares during the period. Swiss National Bank’s holdings in SL Green Realty were worth $8,394,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in SL Green Realty during the 1st quarter worth $947,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SL Green Realty by 1.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,776 shares of the real estate investment trust’s stock worth $2,584,000 after purchasing an additional 623 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of SL Green Realty by 4.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 240 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of SL Green Realty during the first quarter worth $1,252,000. Finally, Probity Advisors Inc. increased its holdings in SL Green Realty by 9.4% in the first quarter. Probity Advisors Inc. now owns 6,751 shares of the real estate investment trust’s stock valued at $390,000 after purchasing an additional 581 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of SL Green Realty stock in a transaction on 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 5.04% of the company’s stock.

SL Green Realty Stock Performance

SLG opened at $47.13 on Friday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 4,717.72 and a beta of 1.75. The business’s 50-day moving average price is $52.86 and its two-hundred day moving average price is $57.29. SL Green Realty Corporation has a 1 year low of $42.92 and a 1 year high of $79.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72.

SL Green Realty (NYSE:SLG) last announced its earnings results on Thursday, October 16th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. The business had revenue of $244.82 million for the quarter, compared to analyst estimates of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.SL Green Realty’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 EPS. Equities analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.2575 per share. The ex-dividend date is Friday, November 28th. This represents a c) annualized dividend and a yield of 6.6%. SL Green Realty’s dividend payout ratio is presently 30,900.00%.

Analysts Set New Price Targets

SLG has been the topic of a number of recent analyst reports. Barclays set a $59.00 target price on SL Green Realty in a report on Monday, November 3rd. Piper Sandler reiterated an “overweight” rating on shares of SL Green Realty in a research report on Wednesday, October 22nd. Evercore ISI reduced their price objective on shares of SL Green Realty from $72.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Jefferies Financial Group upgraded shares of SL Green Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $63.00 in a report on Monday, October 13th. Finally, New Street Research set a $72.00 target price on shares of SL Green Realty in a report on Thursday, October 9th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.33.

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.