Daiwa Securities Group Inc. Has $6.91 Million Stake in SL Green Realty Corp. (NYSE:SLG)

Daiwa Securities Group Inc. cut its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,239 shares of the real estate investment trust's stock after selling 28,660 shares during the quarter. Daiwa Securities Group Inc. owned about 0.15% of SL Green Realty worth $6,908,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of SL Green Realty by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,268,138 shares of the real estate investment trust's stock valued at $88,275,000 after purchasing an additional 97,653 shares during the period. Lighthouse Investment Partners LLC raised its position in shares of SL Green Realty by 150.0% in the second quarter. Lighthouse Investment Partners LLC now owns 150,000 shares of the real estate investment trust's stock valued at $8,496,000 after purchasing an additional 90,000 shares during the period. Dimensional Fund Advisors LP increased its position in SL Green Realty by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust's stock worth $56,350,000 after acquiring an additional 88,309 shares during the period. Swedbank AB bought a new position in SL Green Realty during the first quarter worth $4,675,000. Finally, Waterfall Asset Management LLC bought a new stake in SL Green Realty in the 2nd quarter valued at $3,172,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SLG. 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 report on Monday, October 21st. Jefferies Financial Group boosted their target price on shares of SL Green Realty from $70.00 to $72.00 and gave the company a "hold" rating in a research note on Friday. Barclays boosted their target price on shares of SL Green Realty from $66.00 to $78.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. Bank of America boosted their target price 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. Finally, Morgan Stanley boosted their target price on shares of SL Green Realty from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and a consensus target price of $66.00.

SL Green Realty Trading Down 1.0 %

Shares of NYSE SLG traded down $0.78 during midday trading on Tuesday, reaching $78.17. 2,734,638 shares of the stock were exchanged, compared to its average volume of 982,970. SL Green Realty Corp. has a 12 month low of $32.78 and a 12 month high of $82.81. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of -31.60, a P/E/G ratio of 2.10 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. The business has a 50-day simple moving average of $74.06 and a two-hundred day simple moving average of $64.55.

SL Green Realty (NYSE:SLG - Get Free Report) last released 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 company had revenue of $229.69 million during the quarter, compared to analyst estimates of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same quarter last year, the company earned $1.27 EPS. As a group, equities 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. Stockholders of record on Friday, November 29th will be issued a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, November 29th. SL Green Realty's dividend payout ratio (DPR) is presently -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.