Charles Schwab Investment Management Inc. Acquires 97,653 Shares of SL Green Realty Corp. (NYSE:SLG)

Charles Schwab Investment Management Inc. grew its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 8.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,268,138 shares of the real estate investment trust's stock after buying an additional 97,653 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.92% of SL Green Realty worth $88,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in shares of SL Green Realty by 272.0% during the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 272 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty during the second quarter worth approximately $29,000. Friedenthal Financial acquired a new position in shares of SL Green Realty during the third quarter worth approximately $49,000. Rothschild Investment LLC acquired a new position in shares of SL Green Realty during the second quarter worth approximately $55,000. Finally, Blue Trust Inc. lifted its position in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 632 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SLG has been the topic of several analyst reports. Piper Sandler restated an "overweight" rating and issued a $90.00 price objective (up from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the company a "neutral" rating in a report on Friday, October 18th. Citigroup upgraded shares of SL Green Realty from a "sell" rating to a "neutral" rating and increased their price objective for the company from $44.00 to $66.00 in a report on Friday, September 13th. Wells Fargo & Company increased their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an "equal weight" rating in a report on Wednesday, September 11th. Finally, Evercore ISI increased their price objective on shares of SL Green Realty from $67.00 to $79.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and an average target price of $66.00.

SL Green Realty Stock Up 0.9 %

Shares of SLG stock traded up $0.68 during trading hours on Thursday, hitting $78.85. 938,877 shares of the company were exchanged, compared to its average volume of 982,776. The business has a 50 day moving average of $74.38 and a two-hundred day moving average of $64.83. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. SL Green Realty Corp. has a 52 week low of $33.64 and a 52 week high of $82.81. The company has a market capitalization of $5.20 billion, a PE ratio of -31.54, a PEG ratio of 2.08 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($1.42). The company had revenue of $229.69 million for the quarter, compared to the consensus estimate 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 in the prior year, the company earned $1.27 EPS. Analysts anticipate that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, November 29th. SL Green Realty's dividend payout ratio (DPR) is currently -120.00%.

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.