Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG - Get Rating) by 21.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,735 shares of the real estate investment trust's stock after selling 4,993 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in SL Green Realty were worth $752,000 at the end of the most recent quarter.
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A number of other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in SL Green Realty by 1.8% in the second quarter. Victory Capital Management Inc. now owns 16,015 shares of the real estate investment trust's stock valued at $739,000 after purchasing an additional 283 shares during the period. Bramshill Investments LLC lifted its position in shares of SL Green Realty by 1.9% during the 2nd quarter. Bramshill Investments LLC now owns 15,464 shares of the real estate investment trust's stock valued at $714,000 after acquiring an additional 291 shares during the period. Yousif Capital Management LLC lifted its position in shares of SL Green Realty by 0.8% during the 1st quarter. Yousif Capital Management LLC now owns 37,024 shares of the real estate investment trust's stock valued at $3,006,000 after acquiring an additional 299 shares during the period. Phocas Financial Corp. lifted its position in shares of SL Green Realty by 2.6% during the 3rd quarter. Phocas Financial Corp. now owns 13,250 shares of the real estate investment trust's stock valued at $532,000 after acquiring an additional 330 shares during the period. Finally, Salem Investment Counselors Inc. raised its position in shares of SL Green Realty by 21.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,944 shares of the real estate investment trust's stock worth $90,000 after purchasing an additional 346 shares during the last quarter. Institutional investors and hedge funds own 82.00% of the company's stock.
Shares of NYSE SLG opened at $38.62 on Friday. SL Green Realty Corp. has a 52-week low of $32.15 and a 52-week high of $83.96. The firm has a fifty day moving average of $36.80 and a 200-day 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 (NYSE:SLG - Get Rating) last posted its earnings results on Wednesday, January 25th. The real estate investment trust reported ($1.01) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.49). The business had revenue of $197.29 million for the quarter, compared to analyst estimates of $194.74 million. SL Green Realty had a negative net margin of 9.44% and a negative return on equity of 1.62%. The business's revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, sell-side analysts predict that SL Green Realty Corp. will post 5.49 EPS for the current year.
The firm also recently announced a monthly dividend, which was paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st were issued a dividend of $0.271 per share. The ex-dividend date of this dividend was Monday, January 30th. This represents a $3.25 annualized dividend and a dividend yield of 8.42%. SL Green Realty's payout ratio is -218.12%.
Several research analysts recently issued reports on the company. Mizuho cut their price objective on SL Green Realty from $48.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, January 4th. Wells Fargo & Company cut their price objective on SL Green Realty to $36.00 in a research report on Wednesday, December 14th. Truist Financial cut their price objective on SL Green Realty from $59.00 to $51.00 and set a "buy" rating for the company in a research report on Tuesday, October 25th. Morgan Stanley lowered their target price on shares of SL Green Realty from $44.00 to $38.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 23rd. Finally, Citigroup lifted their target price on shares of SL Green Realty from $30.00 to $35.00 and gave the stock a "sell" rating in a research note on Wednesday, February 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, SL Green Realty has an average rating of "Hold" and a consensus price target of $47.13.
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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