SL Green Realty Corp. (NYSE:SLG) Shares Acquired by Barclays PLC

Barclays PLC boosted its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 304.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,866 shares of the real estate investment trust's stock after buying an additional 83,478 shares during the quarter. Barclays PLC owned 0.17% of SL Green Realty worth $7,718,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in shares of SL Green Realty by 272.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 272 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in SL Green Realty in the 2nd quarter valued at about $29,000. Point72 DIFC Ltd purchased a new stake in SL Green Realty during the third quarter worth about $35,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty during the third quarter worth about $49,000. Finally, Blue Trust Inc. boosted its stake in shares of SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 632 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on SLG. BMO Capital Markets reiterated an "outperform" rating and set a $87.00 target price (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Scotiabank increased their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a research note on Tuesday, December 10th. Barclays boosted their target price on SL Green Realty from $66.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on SL Green Realty from $43.00 to $63.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised SL Green Realty from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $51.00 to $80.00 in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $68.67.

SL Green Realty Stock Performance

Shares of SLG traded down $2.26 during midday trading on Thursday, reaching $66.79. 1,472,959 shares of the stock were exchanged, compared to its average volume of 983,588. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -26.72, a PEG ratio of 4.26 and a beta of 1.81. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a twelve month low of $41.81 and a twelve month high of $82.81. The business's 50-day moving average price is $75.94 and its 200 day moving average price is $67.20.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). The firm had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period last year, the firm earned $1.27 EPS. On average, sell-side analysts expect that SL Green Realty Corp. will post 7.82 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.09 dividend on an annualized basis and a yield of 4.63%. This is a boost from SL Green Realty's previous monthly dividend of $0.25. SL Green Realty's dividend payout ratio is currently -123.60%.

SL Green Realty Company 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.