Victory Capital Management Inc. Grows Stock Holdings in SL Green Realty Corp. (NYSE:SLG)

Victory Capital Management Inc. increased its stake in SL Green Realty Corp. (NYSE:SLG) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,900 shares of the real estate investment trust’s stock after buying an additional 1,380 shares during the period. Victory Capital Management Inc.’s holdings in SL Green Realty were worth $1,664,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its stake in shares of SL Green Realty by 18.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock worth $3,665,000 after buying an additional 10,704 shares in the last quarter. Edgestream Partners L.P. lifted its position in SL Green Realty by 40.1% in the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock valued at $6,960,000 after acquiring an additional 35,178 shares in the last quarter. Swedbank AB purchased a new stake in SL Green Realty during the 1st quarter valued at $4,675,000. Waterfall Asset Management LLC bought a new stake in shares of SL Green Realty in the 2nd quarter worth $3,172,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of SL Green Realty by 13.2% in the second quarter. Daiwa Securities Group Inc. now owns 127,899 shares of the real estate investment trust’s stock worth $7,244,000 after purchasing an additional 14,871 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Down 0.8 %

Shares of SL Green Realty stock opened at $78.99 on Tuesday. SL Green Realty Corp. has a twelve month low of $32.78 and a twelve month high of $82.81. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $74.06 and a 200-day moving average price of $64.55. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -31.60, a PEG ratio of 2.10 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate 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 business had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. During the same quarter last year, the business earned $1.27 EPS. Equities research analysts anticipate that SL Green Realty Corp. will post 7.6 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 annualized dividend and a yield of 3.80%. SL Green Realty’s payout ratio is presently -120.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their target price 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. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Evercore ISI lifted 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 research report on Monday, October 21st. Scotiabank boosted their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Barclays raised 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. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $66.00.

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.