Kestra Investment Management LLC Purchases Shares of 12,584 SL Green Realty Corp. (NYSE:SLG)

Kestra Investment Management LLC purchased a new stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,584 shares of the real estate investment trust's stock, valued at approximately $876,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its stake in SL Green Realty by 6.6% in the third quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust's stock valued at $161,000 after purchasing an additional 144 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust's stock worth $262,000 after acquiring an additional 148 shares in the last quarter. Xponance Inc. boosted its holdings in SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust's stock worth $240,000 after acquiring an additional 262 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 272 shares in the last quarter. Finally, Vert Asset Management LLC boosted its holdings in SL Green Realty by 1.5% in the third quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust's stock worth $1,873,000 after acquiring an additional 394 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLG. JPMorgan Chase & Co. raised their price target on SL Green Realty from $44.00 to $51.00 and gave the stock an "underweight" rating in a report on Tuesday, August 6th. Jefferies Financial Group raised their price target on SL Green Realty from $70.00 to $72.00 and gave the stock a "hold" rating in a report on Friday, November 22nd. Citigroup raised SL Green Realty from a "sell" rating to a "neutral" rating and raised their price target for the stock from $44.00 to $66.00 in a report on Friday, September 13th. Bank of America lifted their target price on SL Green Realty from $59.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, August 22nd. Finally, Scotiabank lifted their target price on SL Green Realty from $68.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $66.00.

SL Green Realty Trading Down 3.0 %

NYSE SLG traded down $2.36 on Monday, reaching $75.83. 280,220 shares of the company were exchanged, compared to its average volume of 978,274. The business's fifty day moving average price is $74.63 and its 200 day moving average price is $65.25. The stock has a market capitalization of $5.00 billion, a P/E ratio of -31.34, a price-to-earnings-growth ratio of 3.82 and a beta of 1.82. 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 fifty-two week low of $39.66 and a fifty-two week high of $82.81.

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) earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($1.42). The business had revenue of $229.69 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the company posted $1.27 earnings per share. Analysts forecast that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, November 29th. SL Green Realty's dividend payout ratio is presently -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.