Principal Financial Group Inc. Sells 14,240 Shares of SL Green Realty Corp. (NYSE:SLG)

Principal Financial Group Inc. lessened its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,595 shares of the real estate investment trust's stock after selling 14,240 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of SL Green Realty worth $21,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. UniSuper Management Pty Ltd increased its position in SL Green Realty by 82.0% in the first quarter. UniSuper Management Pty Ltd now owns 33,229 shares of the real estate investment trust's stock worth $1,832,000 after buying an additional 14,975 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of SL Green Realty by 18.7% in 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 acquiring an additional 10,704 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of SL Green Realty by 40.1% in the second quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust's stock worth $6,960,000 after acquiring an additional 35,178 shares during the period. Swedbank AB bought a new position in shares of SL Green Realty in the first quarter worth about $4,675,000. Finally, Waterfall Asset Management LLC purchased a new stake in shares of SL Green Realty during the second quarter worth about $3,172,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank boosted their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. The Goldman Sachs Group raised their price objective on SL Green Realty from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Wednesday, July 31st. Barclays boosted their target price on 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. Evercore ISI raised their price target on SL Green Realty from $67.00 to $79.00 and gave the company an "in-line" rating in a report on Monday, October 21st. Finally, StockNews.com raised SL Green Realty to a "sell" rating in a research note on Friday, July 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $65.57.

SL Green Realty Trading Up 0.5 %

Shares of NYSE SLG traded up $0.41 during midday trading on Thursday, hitting $76.70. The company's stock had a trading volume of 273,563 shares, compared to its average volume of 964,791. SL Green Realty Corp. has a 12-month low of $32.78 and a 12-month high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The firm has a market cap of $5.06 billion, a P/E ratio of -30.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.82. The business's 50 day moving average is $72.21 and its two-hundred day moving average is $62.98.

SL Green Realty (NYSE:SLG - Get Free Report) last released its 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 for 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 business posted $1.27 earnings per share. As a group, equities research analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 3.91%. SL Green Realty's dividend payout ratio (DPR) is currently -120.00%.

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.