Russell Investments Group Ltd. decreased its position in SL Green Realty Corp. (NYSE:SLG - Get Rating) by 86.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,728 shares of the real estate investment trust's stock after selling 89,021 shares during the quarter. Russell Investments Group Ltd.'s holdings in SL Green Realty were worth $547,000 at the end of the most recent quarter.
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A number of other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its holdings in SL Green Realty by 12.2% in the first quarter. State Street Corp now owns 3,857,153 shares of the real estate investment trust's stock valued at $314,295,000 after acquiring an additional 419,067 shares during the period. Confluence Investment Management LLC increased its position in 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 worth $84,041,000 after buying an additional 13,511 shares in the last quarter. DAVENPORT & Co LLC increased its position in 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 worth $77,976,000 after buying an additional 674,516 shares in the last quarter. Wellington Management Group LLP increased its position in 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 worth $97,200,000 after buying an additional 204,750 shares in the last quarter. Finally, Northern Trust Corp increased its position in 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 worth $89,236,000 after buying an additional 131,984 shares in the last quarter. Institutional investors own 82.00% of the company's stock.
SLG has been the subject of a number of analyst reports. StockNews.com cut SL Green Realty from a "hold" rating to a "sell" rating in a research report on Wednesday, November 9th. Citigroup upped their price target on SL Green Realty from $30.00 to $35.00 and gave the stock a "sell" rating in a research report on Wednesday, February 8th. Scotiabank cut SL Green Realty from a "sector perform" rating to an "underperform" rating and reduced their price target for the stock from $43.00 to $34.00 in a research report on Tuesday, December 6th. BTIG Research cut their target price on SL Green Realty from $105.00 to $84.00 in a research report on Wednesday, October 19th. Finally, BMO Capital Markets cut SL Green Realty from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $47.00 to $41.00 in a research report on Tuesday, December 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, SL Green Realty has a consensus rating of "Hold" and an average price target of $47.13.
NYSE SLG opened at $39.71 on Wednesday. The stock has a market capitalization of $2.55 billion, a PE ratio of -26.65 and a beta of 1.49. The business has a 50 day simple moving average of $36.68 and a two-hundred day simple moving average of $40.55. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.64 and a quick ratio of 2.34. SL Green Realty Corp. has a 1-year low of $32.15 and a 1-year high of $83.96.
SL Green Realty (NYSE:SLG - Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($2.49). The company had revenue of $197.29 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. On average, research analysts predict that SL Green Realty Corp. will post 5.49 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st will be paid a $0.271 dividend. This represents a $3.25 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Monday, January 30th. SL Green Realty's payout ratio is -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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