Citigroup Inc. Increases Holdings in SL Green Realty Corp. (NYSE:SLG)

Citigroup Inc. increased its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 54.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,587 shares of the real estate investment trust's stock after acquiring an additional 30,220 shares during the period. Citigroup Inc. owned about 0.13% of SL Green Realty worth $5,958,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in SL Green Realty by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock worth $88,275,000 after acquiring an additional 97,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust's stock worth $56,350,000 after acquiring an additional 88,309 shares during the period. Bank of New York Mellon Corp boosted its holdings in SL Green Realty by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust's stock valued at $45,906,000 after acquiring an additional 14,167 shares in the last quarter. Federated Hermes Inc. increased its position in SL Green Realty by 8.2% during the 2nd quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust's stock valued at $24,576,000 after purchasing an additional 32,985 shares during the period. Finally, Rhumbline Advisers raised its holdings in SL Green Realty by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust's stock worth $13,302,000 after purchasing an additional 3,255 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SLG has been the topic of several research analyst reports. Scotiabank boosted their price target on shares of SL Green Realty from $68.00 to $80.00 and gave the company a "sector perform" rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective on SL Green Realty from $43.00 to $63.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 11th. Compass Point set a $65.00 price objective on shares of SL Green Realty and gave the stock a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley raised their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Finally, Piper Sandler reissued an "overweight" rating and issued a $90.00 price target (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $66.00.

SL Green Realty Stock Performance

Shares of SL Green Realty stock traded down $2.47 on Monday, hitting $75.72. 1,063,179 shares of the company's stock were exchanged, compared to its average volume of 981,770. SL Green Realty Corp. has a 1 year low of $39.66 and a 1 year high of $82.81. The company has a 50-day simple moving average of $74.71 and a 200-day simple moving average of $65.41. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market capitalization of $4.99 billion, a PE ratio of -30.29, a PEG ratio of 3.82 and a beta of 1.82.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $229.69 million during 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 last year, the business earned $1.27 EPS. As a group, equities analysts anticipate that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.25 dividend. The ex-dividend date is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.96%. SL Green Realty's payout ratio is currently -120.00%.

About SL Green Realty

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.