State Street Corp Decreases Holdings in SL Green Realty Corp. (NYSE:SLG)

State Street Corp decreased its stake in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,940,713 shares of the real estate investment trust's stock after selling 89,157 shares during the period. State Street Corp owned about 5.98% of SL Green Realty worth $275,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SLG. Rosenberg Matthew Hamilton boosted its stake 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 buying an additional 144 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in SL Green Realty by 4.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust's stock valued at $262,000 after purchasing an additional 148 shares during the period. Xponance Inc. increased its position in shares of SL Green Realty by 6.6% during the 2nd quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust's stock valued at $240,000 after purchasing an additional 262 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 272 shares during the period. Finally, Vert Asset Management LLC boosted its holdings in shares of SL Green Realty by 1.5% in the 3rd quarter. Vert Asset Management LLC now owns 26,909 shares of the real estate investment trust's stock worth $1,873,000 after buying an additional 394 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 down $0.57 during trading hours on Wednesday, hitting $73.58. The stock had a trading volume of 1,105,878 shares, compared to its average volume of 983,950. The company has a 50 day simple moving average of $75.18 and a two-hundred day simple moving average of $66.21. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of -29.43, a P/E/G ratio of 3.68 and a beta of 1.81. 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 one year low of $40.30 and a one year high of $82.81.

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 (EPS) 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 net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the prior year, the business posted $1.27 EPS. Research analysts forecast that SL Green Realty Corp. will post 7.59 earnings per share for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.2575 dividend. This represents a $3.09 annualized dividend and a dividend yield of 4.20%. This is a boost from SL Green Realty's previous monthly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. SL Green Realty's dividend payout ratio is -120.00%.

Analyst Ratings Changes

SLG has been the topic of several research reports. Bank of America lifted their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, August 22nd. Evercore ISI increased their price objective 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. Jefferies Financial Group boosted their target price on SL Green Realty from $70.00 to $72.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Scotiabank upped their price target on SL Green Realty from $80.00 to $81.00 and gave the company a "sector perform" rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on SL Green Realty from $43.00 to $63.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, SL Green Realty currently has an average rating of "Hold" and an average price target of $68.67.

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.