UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 396.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 446,170 shares of the real estate investment trust's stock after buying an additional 356,275 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.68% of SL Green Realty worth $31,058,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of SLG. Venturi Wealth Management LLC boosted its stake in SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 272 shares during the period. Allspring Global Investments Holdings LLC bought a new position in SL Green Realty during the 2nd quarter worth $29,000. Friedenthal Financial acquired a new stake in SL Green Realty in the third quarter worth $49,000. Blue Trust Inc. boosted its holdings in shares of SL Green Realty by 363.2% during the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust's stock valued at $56,000 after acquiring an additional 632 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of SL Green Realty during the second quarter worth about $55,000. 89.96% of the stock is owned by institutional investors and hedge funds.
SL Green Realty Price Performance
Shares of NYSE SLG traded down $0.73 during trading on Thursday, hitting $73.66. The company had a trading volume of 700,254 shares, compared to its average volume of 981,386. SL Green Realty Corp. has a 52 week low of $40.30 and a 52 week high of $82.81. The business's 50-day moving average is $74.93 and its 200 day moving average is $65.67. The company has a market cap of $4.86 billion, a P/E ratio of -29.46, a PEG ratio of 3.61 and a beta of 1.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.
SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $229.69 million for the quarter, compared to analyst estimates of $136.66 million. During the same period last year, the firm earned $1.27 earnings per share. Equities research analysts predict that SL Green Realty Corp. will post 7.6 earnings per share for the current fiscal year.
SL Green Realty Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders 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 4.07%. The ex-dividend date of this dividend is Friday, November 29th. SL Green Realty's payout ratio is -120.00%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on SLG. 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. Scotiabank increased their price objective on SL Green Realty from $68.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price on SL Green Realty from $43.00 to $63.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 11th. Barclays increased their price target on SL Green Realty from $66.00 to $78.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Finally, Bank of America lifted 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. 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 company's stock. Based on data from MarketBeat, SL Green Realty currently has an average rating of "Hold" and a consensus price target of $66.00.
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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.
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