Hsbc Holdings PLC Increases Holdings in SL Green Realty Corp. (NYSE:SLG)

Hsbc Holdings PLC boosted its position in SL Green Realty Corp. (NYSE:SLG) by 37.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 65,485 shares of the real estate investment trust’s stock after purchasing an additional 17,815 shares during the period. Hsbc Holdings PLC’s holdings in SL Green Realty were worth $4,448,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of SL Green Realty during the 4th quarter worth about $48,050,000. Vanguard Group Inc. boosted its position in SL Green Realty by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust’s stock worth $735,594,000 after purchasing an additional 564,822 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust’s stock valued at $96,990,000 after purchasing an additional 159,870 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $7,705,000. Finally, Geode Capital Management LLC raised its stake in shares of SL Green Realty by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust’s stock worth $119,001,000 after buying an additional 110,594 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

SL Green Realty Stock Performance

Shares of SLG stock opened at $52.97 on Wednesday. The company’s fifty day simple moving average is $56.47 and its 200-day simple moving average is $66.09. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a market cap of $3.78 billion, a PE ratio of 662.13, a P/E/G ratio of 5.30 and a beta of 1.61.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The company had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. As a group, equities research analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.94%. The ex-dividend date is Wednesday, April 30th. SL Green Realty’s dividend payout ratio is currently -735.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLG. Jefferies Financial Group assumed coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a “hold” rating and a $58.00 target price on the stock. Scotiabank dropped their price target on SL Green Realty from $81.00 to $75.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company cut their price objective on shares of SL Green Realty from $76.00 to $69.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Bank of America cut their target price on SL Green Realty from $80.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Finally, Truist Financial decreased their price objective on shares of SL Green Realty from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average target price of $68.13.

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.