Bank of New York Mellon Corp Buys 21,853 Shares of SL Green Realty Corporation $SLG

Bank of New York Mellon Corp boosted its stake in shares of SL Green Realty Corporation (NYSE:SLG) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 632,463 shares of the real estate investment trust’s stock after buying an additional 21,853 shares during the quarter. Bank of New York Mellon Corp’s holdings in SL Green Realty were worth $39,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of SL Green Realty by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 33,200 shares of the real estate investment trust’s stock valued at $2,055,000 after acquiring an additional 200 shares during the period. Amalgamated Bank boosted its stake in shares of SL Green Realty by 1.2% during the 2nd quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock worth $1,253,000 after purchasing an additional 235 shares during the period. Mackenzie Financial Corp grew its holdings in SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 240 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in SL Green Realty by 2.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 10,257 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 247 shares during the period. Finally, Bessemer Group Inc. lifted its stake in SL Green Realty by 67.8% in the second quarter. Bessemer Group Inc. now owns 626 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 253 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Trading Down 1.9%

NYSE:SLG opened at $49.84 on Thursday. The firm has a 50-day simple moving average of $56.84 and a 200-day simple moving average of $58.07. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $80.90. The firm has a market cap of $3.55 billion, a P/E ratio of 4,988.79 and a beta of 1.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.72 and a current ratio of 3.22.

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

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $0.2575 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, October 31st. SL Green Realty’s dividend payout ratio is 30,900.00%.

Insiders Place Their Bets

In other SL Green Realty 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 5.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on SLG. JPMorgan Chase & Co. upped their target price on SL Green Realty from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. LADENBURG THALM/SH SH began coverage on SL Green Realty in a research report on Monday, October 13th. They issued a “neutral” rating and a $63.00 price objective on the stock. Citigroup upgraded SL Green Realty from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $70.00 in a research report on Friday, September 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on shares of SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $64.33.

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.