Northwestern Mutual Wealth Management Co. Purchases 21,210 Shares of SL Green Realty Corporation $SLG

Northwestern Mutual Wealth Management Co. grew its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 379.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,794 shares of the real estate investment trust’s stock after acquiring an additional 21,210 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in SL Green Realty were worth $1,387,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Triumph Capital Management acquired a new stake in SL Green Realty in the third quarter valued at $45,000. Davis Capital Management bought a new stake in shares of SL Green Realty in the 1st quarter valued at about $46,000. Global Retirement Partners LLC bought a new stake in shares of SL Green Realty in the 2nd quarter valued at about $53,000. Fourth Dimension Wealth LLC increased its stake in shares of SL Green Realty by 45.5% in the fourth quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 500 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of SL Green Realty by 30.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLG. Mizuho lifted their price objective on SL Green Realty from $38.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d+)” rating on shares of SL Green Realty in a report on Tuesday, August 25th. UBS Group set a $60.00 price target on shares of SL Green Realty in a research report on Monday, July 27th. Evercore lowered shares of SL Green Realty from an “outperform” rating to an “in-line” rating and set a $56.00 price objective on the stock. in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded shares of SL Green Realty from a “strong sell” rating to a “sell” rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, SL Green Realty presently has an average rating of “Hold” and an average price target of $56.83.

SL Green Realty Trading Up 1.2%

SLG opened at $55.56 on Friday. The company has a market cap of $3.95 billion, a P/E ratio of -20.35, a price-to-earnings-growth ratio of 2.40 and a beta of 1.60. The company has a fifty day moving average price of $54.07 and a two-hundred day moving average price of $46.37. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a 1-year low of $34.77 and a 1-year high of $66.29.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.21. The business had revenue of $264.00 million during the quarter, compared to analyst estimates of $179.01 million. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. SL Green Realty’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. Analysts predict that SL Green Realty Corporation will post 5.53 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.6175 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, June 30th. SL Green Realty’s payout ratio is presently -90.48%.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $57.71, for a total value of $1,333,851.23. Following the transaction, the insider owned 109,468 shares of the company’s stock, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.94% of the stock is owned by insiders.

SL Green Realty Company Profile

SL Green Realty Corp. (NYSE: SLG) is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City’s largest office landlords, the company’s portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.