SG Americas Securities LLC Sells 18,998 Shares of SL Green Realty Corp. (NYSE:SLG)

SG Americas Securities LLC lowered its stake in shares of SL Green Realty Corp. (NYSE:SLG) by 88.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,507 shares of the real estate investment trust’s stock after selling 18,998 shares during the quarter. SG Americas Securities LLC’s holdings in SL Green Realty were worth $175,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SLG. Allspring Global Investments Holdings LLC purchased a new stake in shares of SL Green Realty in the 2nd quarter valued at $29,000. Fidelis Capital Partners LLC purchased a new stake in SL Green Realty during the 1st quarter valued at $55,000. Rothschild Investment LLC bought a new stake in SL Green Realty in the 2nd quarter worth $55,000. Meeder Advisory Services Inc. purchased a new position in shares of SL Green Realty in the first quarter valued at about $201,000. Finally, Virtu Financial LLC bought a new position in shares of SL Green Realty during the first quarter valued at approximately $237,000. 89.96% of the stock is currently owned by institutional investors.

SL Green Realty Stock Performance

NYSE SLG opened at $75.58 on Thursday. The company has a quick ratio of 2.59, a current ratio of 2.58 and a debt-to-equity ratio of 1.07. SL Green Realty Corp. has a twelve month low of $28.55 and a twelve month high of $79.08. The business has a 50-day moving average price of $68.44 and a 200-day moving average price of $60.18. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of -9.15, a price-to-earnings-growth ratio of 2.18 and a beta of 1.83.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings data 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 net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. During the same period last year, the business earned $1.27 earnings per share. As a group, equities research analysts predict that SL Green Realty Corp. will post 7.62 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.25 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Thursday, October 31st. SL Green Realty’s dividend payout ratio (DPR) is presently -36.32%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup raised SL Green Realty from a “sell” rating to a “neutral” rating and increased their target price for the stock from $44.00 to $66.00 in a research report on Friday, September 13th. The Goldman Sachs Group boosted their price target on SL Green Realty from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Barclays boosted their price objective on shares of SL Green Realty from $66.00 to $78.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Compass Point set a $65.00 price target on shares of SL Green Realty and gave the stock a “neutral” rating in a research note on Friday, October 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $64.71.

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.