Nisa Investment Advisors LLC Lowers Holdings in SL Green Realty Corporation $SLG

Nisa Investment Advisors LLC decreased its holdings in shares of SL Green Realty Corporation (NYSE:SLG) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,808 shares of the real estate investment trust’s stock after selling 4,445 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SL Green Realty were worth $7,013,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SLG. Vanguard Group Inc. grew its holdings in shares of SL Green Realty by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock worth $641,238,000 after purchasing an additional 283,009 shares during the period. Goldman Sachs Group Inc. boosted its stake in SL Green Realty by 8.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock worth $97,851,000 after buying an additional 130,206 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in SL Green Realty by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust’s stock worth $89,722,000 after buying an additional 126,969 shares during the period. Nuveen LLC acquired a new stake in shares of SL Green Realty during the first quarter valued at about $87,878,000. Finally, Northern Trust Corp raised its stake in shares of SL Green Realty by 2.1% in the 1st quarter. Northern Trust Corp now owns 1,458,980 shares of the real estate investment trust’s stock valued at $84,183,000 after acquiring an additional 29,344 shares during the period. Institutional investors and hedge funds own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $63.00 in a research report on Monday, October 13th. Truist Financial set a $54.00 price target on SL Green Realty and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of SL Green Realty in a research note on Wednesday, October 8th. Evercore ISI decreased their target price on 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. Finally, Scotiabank set a $66.00 target price on SL Green Realty and gave the company a “sector outperform” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, SL Green Realty currently has an average rating of “Hold” and a consensus price target of $64.40.

SL Green Realty Price Performance

SLG stock opened at $53.27 on Wednesday. The business’s 50-day moving average is $58.06 and its two-hundred day moving average is $58.19. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The firm has a market capitalization of $3.80 billion, a P/E ratio of 5,332.53 and a beta of 1.77. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81.

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

SL Green Realty Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a $0.2575 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is presently 30,900.00%.

Insider Activity

In related news, Director Carol N. Brown sold 937 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total transaction of $59,115.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.04% of the company’s stock.

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.