SL Green Realty Corp. (NYSE:SLG) Shares Sold by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV lessened its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 11.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,905 shares of the real estate investment trust's stock after selling 7,428 shares during the period. SL Green Realty accounts for approximately 2.1% of Tandem Capital Management Corp ADV's investment portfolio, making the stock its 14th biggest position. Tandem Capital Management Corp ADV owned about 0.08% of SL Green Realty worth $3,822,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SLG. Moody Aldrich Partners LLC grew its stake in shares of SL Green Realty by 12.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 117,926 shares of the real estate investment trust's stock valued at $8,209,000 after buying an additional 13,427 shares during the period. International Assets Investment Management LLC grew its stake in shares of SL Green Realty by 6,861.0% in the 3rd quarter. International Assets Investment Management LLC now owns 14,618 shares of the real estate investment trust's stock valued at $1,018,000 after buying an additional 14,408 shares during the period. Friedenthal Financial purchased a new stake in shares of SL Green Realty in the 3rd quarter valued at approximately $49,000. Blue Trust Inc. grew its stake in shares of SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 632 shares during the period. Finally, Vert Asset Management LLC grew its stake in shares of SL Green Realty by 1.5% in the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust's stock valued at $1,873,000 after buying an additional 394 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Down 1.1 %

Shares of SL Green Realty stock traded down $0.85 during trading on Friday, hitting $76.62. 636,315 shares of the stock were exchanged, compared to its average volume of 983,478. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of -30.65, a price-to-earnings-growth ratio of 2.12 and a beta of 1.83. The firm's 50-day moving average price is $68.97 and its 200 day moving average price is $60.46. SL Green Realty Corp. has a 12-month low of $28.55 and a 12-month high of $79.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.58 and a quick ratio of 2.59.

SL Green Realty (NYSE:SLG - Get Free Report) last announced 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). SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. The company had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same quarter in the prior year, the business earned $1.27 earnings per share. As a group, analysts forecast that SL Green Realty Corp. will post 7.62 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 3.92%. SL Green Realty's dividend payout ratio is currently -120.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLG. Bank of America upped their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, August 22nd. The Goldman Sachs Group upped their price objective on shares of SL Green Realty from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Wednesday, July 31st. Citigroup upgraded shares of SL Green Realty from a "sell" rating to a "neutral" rating and increased their target price for the stock from $44.00 to $66.00 in a report on Friday, September 13th. BMO Capital Markets reissued an "outperform" rating and issued a $87.00 price target (up previously from $72.00) on shares of SL Green Realty in a research report on Monday. Finally, StockNews.com raised shares of SL Green Realty to a "sell" rating in a research report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $65.57.

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.