Pathstone Holdings LLC Has $2.61 Million Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Pathstone Holdings LLC lessened its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 25.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,379 shares of the real estate investment trust's stock after selling 12,885 shares during the quarter. Pathstone Holdings LLC owned approximately 0.06% of SL Green Realty worth $2,605,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SLG. DekaBank Deutsche Girozentrale grew its position in SL Green Realty by 18.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust's stock valued at $3,665,000 after purchasing an additional 10,704 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of SL Green Realty by 40.1% during the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust's stock valued at $6,960,000 after acquiring an additional 35,178 shares in the last quarter. Swedbank AB acquired a new position in shares of SL Green Realty in the first quarter worth $4,675,000. Waterfall Asset Management LLC purchased a new stake in shares of SL Green Realty during the second quarter worth $3,172,000. Finally, Daiwa Securities Group Inc. boosted its position in SL Green Realty by 13.2% during the second quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust's stock valued at $7,244,000 after purchasing an additional 14,871 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLG. 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 research note on Friday. Citigroup upgraded shares of SL Green Realty from a "sell" rating to a "neutral" rating and lifted their target price for the company from $44.00 to $66.00 in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their price target on shares of SL Green Realty from $44.00 to $51.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 6th. Piper Sandler reaffirmed 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, Barclays increased their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $66.00.

SL Green Realty Stock Performance

Shares of NYSE SLG traded down $0.78 during trading hours on Tuesday, reaching $78.17. The stock had a trading volume of 2,720,327 shares, compared to its average volume of 982,907. The company has a market cap of $5.15 billion, a price-to-earnings ratio of -31.60, a PEG ratio of 2.10 and a beta of 1.82. SL Green Realty Corp. has a twelve month low of $32.78 and a twelve month high of $82.81. The business's fifty day moving average is $74.06 and its two-hundred day moving average is $64.55. 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 (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 (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 business had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. During the same period last year, the company earned $1.27 EPS. As a group, research analysts expect that SL Green Realty Corp. will post 7.6 EPS 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 $0.25 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty's dividend payout ratio (DPR) is -120.00%.

SL Green Realty 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.