Wealth Enhancement Advisory Services LLC Purchases 148 Shares of SL Green Realty Corp. (NYSE:SLG)

Wealth Enhancement Advisory Services LLC grew its holdings in SL Green Realty Corp. (NYSE:SLG) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,769 shares of the real estate investment trust’s stock after acquiring an additional 148 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in SL Green Realty were worth $262,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in SL Green Realty during the second quarter worth about $29,000. Friedenthal Financial bought a new stake in shares of SL Green Realty in the third quarter valued at approximately $49,000. Rothschild Investment LLC acquired a new stake in shares of SL Green Realty during the 2nd quarter worth $55,000. Blue Trust Inc. increased its holdings in SL Green Realty by 363.2% in the 3rd quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 632 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in SL Green Realty by 33.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,565 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 649 shares in the last quarter. 89.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLG has been the topic of several recent research reports. Scotiabank raised their price objective on SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. StockNews.com upgraded SL Green Realty to a “sell” rating in a report on Friday, July 19th. Evercore ISI upped their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Truist Financial increased their price target on SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Finally, Bank of America upped their target price on SL Green Realty from $59.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and an average target price of $65.57.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $80.99 on Tuesday. The company has a 50 day simple moving average of $71.44 and a two-hundred day simple moving average of $62.49. SL Green Realty Corp. has a fifty-two week low of $29.26 and a fifty-two week high of $82.81. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of -32.91, a P/E/G ratio of 2.13 and a beta of 1.82. 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) 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 quarter in the previous year, the firm posted $1.27 EPS. Analysts expect that SL Green Realty Corp. will post 7.61 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $3.00 annualized dividend and a yield of 3.70%. 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.