Vert Asset Management LLC Purchases 394 Shares of SL Green Realty Corp. (NYSE:SLG)

Vert Asset Management LLC boosted its position in shares of SL Green Realty Corp. (NYSE:SLG) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,909 shares of the real estate investment trust’s stock after acquiring an additional 394 shares during the quarter. SL Green Realty accounts for 0.6% of Vert Asset Management LLC’s portfolio, making the stock its 29th biggest holding. Vert Asset Management LLC’s holdings in SL Green Realty were worth $1,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of SL Green Realty by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after purchasing an additional 78,322 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in SL Green Realty by 479.1% during the first quarter. Daiwa Securities Group Inc. now owns 113,028 shares of the real estate investment trust’s stock valued at $6,231,000 after buying an additional 93,511 shares during the last quarter. Janney Montgomery Scott LLC raised its position in SL Green Realty by 12.0% in the first quarter. Janney Montgomery Scott LLC now owns 124,978 shares of the real estate investment trust’s stock worth $6,890,000 after acquiring an additional 13,412 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of SL Green Realty by 82.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust’s stock worth $1,832,000 after acquiring an additional 14,975 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of SL Green Realty by 24.7% during the 1st quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock valued at $44,067,000 after acquiring an additional 158,268 shares during the period. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SLG shares. BMO Capital Markets raised their target price on SL Green Realty from $58.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Morgan Stanley lifted their price objective on SL Green Realty from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Barclays boosted their price objective on SL Green Realty from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Finally, Compass Point set a $65.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.79.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $78.77 on Friday. The company has a market cap of $5.13 billion, a P/E ratio of -29.50, a P/E/G ratio of 1.94 and a beta of 1.83. SL Green Realty Corp. has a 52-week low of $28.55 and a 52-week high of $79.08. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.59 and a current ratio of 2.59. The firm’s fifty day moving average is $67.57 and its two-hundred day moving average is $59.61.

SL Green Realty (NYSE:SLG) last issued its earnings results 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 firm had revenue of $229.69 million during the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. During the same period last year, the firm posted $1.27 earnings per share. As a group, analysts anticipate that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.81%. SL Green Realty’s dividend payout ratio is currently -112.36%.

SL Green Realty Company 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.