Janney Montgomery Scott LLC cut its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 51.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,509 shares of the real estate investment trust's stock after selling 56,086 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of SL Green Realty worth $3,725,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of SLG. Allspring Global Investments Holdings LLC acquired a new position in shares of SL Green Realty during the 2nd quarter valued at $29,000. Friedenthal Financial acquired a new stake in shares of SL Green Realty in the 3rd quarter valued at about $49,000. Blue Trust Inc. increased its position in 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 in the last quarter. Rothschild Investment LLC acquired a new position in SL Green Realty during the 2nd quarter worth approximately $55,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust's stock worth $161,000 after purchasing an additional 144 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors.
SL Green Realty Price Performance
SLG stock traded up $0.26 during midday trading on Monday, reaching $80.99. The company had a trading volume of 577,641 shares, compared to its average volume of 971,176. The company has a market capitalization of $5.34 billion, a P/E ratio of -32.91, a P/E/G ratio of 2.13 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a 1 year low of $29.26 and a 1 year high of $82.81. The firm has a 50-day moving average price of $71.44 and a 200-day moving average price of $62.49.
SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results 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 business 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 in the prior year, the firm earned $1.27 earnings per share. On average, research analysts anticipate that SL Green Realty Corp. will post 7.61 earnings per share for the current fiscal year.
SL Green Realty Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, October 31st. SL Green Realty's dividend payout ratio (DPR) is -120.00%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on SLG shares. Bank of America raised their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, August 22nd. StockNews.com upgraded shares of SL Green Realty to a "sell" rating in a research note on Friday, July 19th. Wells Fargo & Company raised their price target on shares of SL Green Realty from $43.00 to $63.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 11th. Piper Sandler reiterated an "overweight" rating and issued a $90.00 price objective (up previously from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Finally, Citigroup upgraded SL Green Realty from a "sell" rating to a "neutral" rating and upped 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $65.57.
Check Out Our Latest Research Report on SL Green Realty
About SL Green Realty
(
Free Report)
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.
Read More
Before you consider SL Green Realty, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SL Green Realty wasn't on the list.
While SL Green Realty currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
