SL Green Realty Corporation $SLG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in SL Green Realty Corporation (NYSE:SLG) by 36.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,910 shares of the real estate investment trust’s stock after selling 17,480 shares during the quarter. Intech Investment Management LLC’s holdings in SL Green Realty were worth $1,913,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wolverine Asset Management LLC boosted its position in SL Green Realty by 156.1% in the first quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust’s stock valued at $734,000 after buying an additional 7,750 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in SL Green Realty by 8.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,695,862 shares of the real estate investment trust’s stock valued at $97,851,000 after acquiring an additional 130,206 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of SL Green Realty by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust’s stock valued at $30,249,000 after acquiring an additional 50,450 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of SL Green Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust’s stock worth $641,238,000 after acquiring an additional 283,009 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of SL Green Realty by 117.0% during the first quarter. Envestnet Asset Management Inc. now owns 43,513 shares of the real estate investment trust’s stock worth $2,511,000 after purchasing an additional 23,457 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

Wall Street Analyst Weigh In

SLG has been the topic of several recent research reports. New Street Research set a $72.00 price target on shares of SL Green Realty in a report on Thursday, October 9th. Citigroup raised SL Green Realty from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $70.00 in a report on Friday, September 12th. Bank of America lowered their target price on SL Green Realty from $64.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Barclays set a $59.00 price target on SL Green Realty in a research report on Monday, November 3rd. Finally, Piper Sandler reissued an “overweight” rating on shares of SL Green Realty in a report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.33.

SL Green Realty Price Performance

Shares of SL Green Realty stock opened at $43.93 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of 4,396.90 and a beta of 1.75. SL Green Realty Corporation has a twelve month low of $42.92 and a twelve month high of $80.90. 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 business has a 50-day moving average price of $54.53 and a 200 day moving average price of $57.62.

SL Green Realty (NYSE:SLG) last issued its quarterly earnings data on Thursday, October 16th. The real estate investment trust reported $1.58 EPS for the quarter, beating the consensus estimate of $1.34 by $0.24. The company had revenue of $244.82 million for the quarter, compared to analyst estimates of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.SL Green Realty’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. Sell-side analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.2575 dividend. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 28th. SL Green Realty’s payout ratio is presently 30,900.00%.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 937 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.04% of the company’s stock.

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.