Nomura Asset Management Co. Ltd. raised its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Get Rating) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,530 shares of the real estate investment trust's stock after purchasing an additional 5,170 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.10% of SL Green Realty worth $2,551,000 at the end of the most recent reporting period.
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Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp lifted its position in shares of SL Green Realty by 12.2% during the first quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust's stock worth $314,295,000 after purchasing an additional 419,067 shares during the last quarter. Confluence Investment Management LLC raised its holdings in shares of SL Green Realty by 0.6% in the third quarter. Confluence Investment Management LLC now owns 2,092,665 shares of the real estate investment trust's stock valued at $84,041,000 after acquiring an additional 13,511 shares in the last quarter. DAVENPORT & Co LLC raised its holdings in shares of SL Green Realty by 53.2% in the third quarter. DAVENPORT & Co LLC now owns 1,941,644 shares of the real estate investment trust's stock valued at $77,976,000 after acquiring an additional 674,516 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of SL Green Realty by 20.6% in the first quarter. Wellington Management Group LLP now owns 1,197,334 shares of the real estate investment trust's stock valued at $97,200,000 after acquiring an additional 204,750 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of SL Green Realty by 13.6% in the first quarter. Northern Trust Corp now owns 1,099,235 shares of the real estate investment trust's stock valued at $89,236,000 after acquiring an additional 131,984 shares in the last quarter. 82.00% of the stock is currently owned by institutional investors.
SLG has been the subject of several recent research reports. Truist Financial decreased their price objective on SL Green Realty from $59.00 to $51.00 and set a "buy" rating for the company in a report on Tuesday, October 25th. StockNews.com downgraded SL Green Realty from a "hold" rating to a "sell" rating in a report on Wednesday, November 9th. Citigroup lifted their price objective on SL Green Realty from $30.00 to $35.00 and gave the company a "sell" rating in a report on Wednesday, February 8th. Morgan Stanley cut their target price on SL Green Realty from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 23rd. Finally, Mizuho cut their target price on SL Green Realty from $48.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 4th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, SL Green Realty currently has an average rating of "Hold" and a consensus price target of $47.13.
Shares of SLG stock opened at $37.51 on Tuesday. SL Green Realty Corp. has a fifty-two week low of $32.15 and a fifty-two week high of $83.96. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.34 and a current ratio of 2.64. The stock's 50-day simple moving average is $36.94 and its 200-day simple moving average is $40.26.
SL Green Realty (NYSE:SLG - Get Rating) last issued its earnings results on Wednesday, January 25th. The real estate investment trust reported ($1.01) EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($2.49). The firm had revenue of $197.29 million during the quarter, compared to analysts' expectations of $194.74 million. SL Green Realty had a negative net margin of 9.44% and a negative return on equity of 1.62%. SL Green Realty's quarterly revenue was up 31.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, sell-side analysts forecast that SL Green Realty Corp. will post 5.49 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a $0.2708 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $3.25 dividend on an annualized basis and a yield of 8.66%. SL Green Realty's dividend payout ratio is currently -218.12%.
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.
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