SL Green Realty Corp. (NYSE:SLG) Shares Sold by Liberty Mutual Group Asset Management Inc.

Liberty Mutual Group Asset Management Inc. reduced its holdings in SL Green Realty Corp. (NYSE:SLG) by 10.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,746 shares of the real estate investment trust’s stock after selling 2,762 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in SL Green Realty were worth $1,402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SLG. Allspring Global Investments Holdings LLC bought a new position in SL Green Realty in the second quarter worth about $29,000. Fidelis Capital Partners LLC acquired a new position in SL Green Realty during the 1st quarter valued at approximately $55,000. Rothschild Investment LLC bought a new position in SL Green Realty during the 2nd quarter worth $55,000. GAMMA Investing LLC increased its position in SL Green Realty by 6.3% in the first quarter. GAMMA Investing LLC now owns 3,305 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 196 shares during the period. Finally, Meeder Advisory Services Inc. bought a new stake in SL Green Realty in the first quarter valued at $201,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLG. Bank of America increased their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Scotiabank lifted their price target on SL Green Realty from $53.00 to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised their target price on SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. Finally, Piper Sandler lifted their price objective on shares of SL Green Realty from $58.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SL Green Realty has an average rating of “Hold” and an average price target of $59.64.

SL Green Realty Trading Down 1.0 %

SL Green Realty stock opened at $69.44 on Friday. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of -8.41, a price-to-earnings-growth ratio of 2.25 and a beta of 1.83. SL Green Realty Corp. has a 1 year low of $28.55 and a 1 year high of $73.80. The firm’s 50 day moving average price is $65.27 and its two-hundred day moving average price is $57.57. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.59 and a current ratio of 2.59.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The business had revenue of $222.82 million for the quarter, compared to analysts’ expectations of $133.83 million. During the same period in the previous year, the firm posted $1.43 EPS. The company’s quarterly revenue was down 9.4% on a year-over-year basis. On average, research analysts predict that SL Green Realty Corp. will post 7.58 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Monday, September 30th. SL Green Realty’s dividend payout ratio is presently -36.32%.

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.