Phocas Financial Corp. Buys 38,349 Shares of SL Green Realty Corp. (NYSE:SLG)

Phocas Financial Corp. increased its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 52.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,376 shares of the real estate investment trust's stock after purchasing an additional 38,349 shares during the period. Phocas Financial Corp. owned 0.17% of SL Green Realty worth $7,753,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SLG. Vanguard Group Inc. boosted its position in shares of SL Green Realty by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust's stock valued at $572,524,000 after acquiring an additional 60,032 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of SL Green Realty by 9.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust's stock valued at $56,350,000 after buying an additional 88,309 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of SL Green Realty by 1.8% in the 2nd 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 during the last quarter. Federated Hermes Inc. grew its position in SL Green Realty by 8.2% in the second quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust's stock worth $24,576,000 after acquiring an additional 32,985 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in SL Green Realty by 1.4% during the second quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust's stock worth $13,302,000 after acquiring an additional 3,255 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

NYSE:SLG traded up $1.08 during trading hours on Tuesday, reaching $77.42. The company had a trading volume of 210,721 shares, compared to its average volume of 958,265. The stock has a 50-day moving average of $72.99 and a two-hundred day moving average of $63.60. SL Green Realty Corp. has a one year low of $32.78 and a one year high of $82.81. The firm has a market capitalization of $5.10 billion, a PE ratio of -30.54, a PEG ratio of 2.00 and a beta of 1.82. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06.

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) earnings per share 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 quarter last year, the firm earned $1.27 EPS. Analysts forecast that SL Green Realty Corp. will post 7.61 earnings per share for the current year.

SL Green Realty Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, October 31st. SL Green Realty's dividend payout ratio (DPR) is -120.00%.

Analysts Set New Price Targets

SLG has been the topic of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Morgan Stanley upped their price objective on SL Green Realty from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Compass Point set a $65.00 price objective on SL Green Realty and gave the company a "neutral" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 6th. Finally, Citigroup raised SL Green Realty from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, SL Green Realty has an average rating of "Hold" and a consensus price target of $65.57.

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.