Nan Fung Trinity HK Ltd. Has $8.59 Million Holdings in SL Green Realty Corporation $SLG

Nan Fung Trinity HK Ltd. lifted its stake in SL Green Realty Corporation (NYSE:SLG) by 264.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,700 shares of the real estate investment trust’s stock after acquiring an additional 100,600 shares during the period. Nan Fung Trinity HK Ltd. owned approximately 0.19% of SL Green Realty worth $8,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SLG. Teacher Retirement System of Texas acquired a new position in SL Green Realty in the 1st quarter valued at approximately $601,000. Envestnet Asset Management Inc. raised its stake in shares of SL Green Realty by 117.0% in the first quarter. Envestnet Asset Management Inc. now owns 43,513 shares of the real estate investment trust’s stock valued at $2,511,000 after purchasing an additional 23,457 shares in the last quarter. M&T Bank Corp lifted its position in SL Green Realty by 6.6% in the first quarter. M&T Bank Corp now owns 5,921 shares of the real estate investment trust’s stock worth $342,000 after purchasing an additional 366 shares during the period. Xponance Inc. lifted its position in SL Green Realty by 6.6% in the first quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 357 shares during the period. Finally, Arizona State Retirement System boosted its stake in SL Green Realty by 9.4% during the first quarter. Arizona State Retirement System now owns 20,578 shares of the real estate investment trust’s stock worth $1,187,000 after buying an additional 1,767 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Insider Transactions at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. 5.04% of the stock is currently owned by company insiders.

SL Green Realty Price Performance

NYSE:SLG opened at $50.78 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 3.22 and a debt-to-equity ratio of 1.04. The firm has a market cap of $3.62 billion, a PE ratio of 5,082.78 and a beta of 1.75. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $81.46. The company’s 50-day moving average price is $57.01 and its two-hundred day moving average price is $58.13.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.24. The company had revenue of $149.67 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, equities analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors 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 6.1%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty’s payout ratio is currently 30,900.00%.

Analysts Set New Price Targets

SLG has been the subject of a number of recent research reports. Bank of America dropped their price objective on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Evercore ISI lowered their target price on shares of 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. Jefferies Financial Group raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $63.00 in a research report on Monday, October 13th. JPMorgan Chase & Co. raised their price target on shares of SL Green Realty from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Finally, Wells Fargo & Company lowered their price objective on 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 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.33.

SL Green Realty 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.