MML Investors Services LLC Buys 161 Shares of SL Green Realty Corp. (NYSE:SLG)

MML Investors Services LLC raised its stake in SL Green Realty Corp. (NYSE:SLG) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,138 shares of the real estate investment trust’s stock after acquiring an additional 161 shares during the quarter. MML Investors Services LLC’s holdings in SL Green Realty were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of SL Green Realty by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock worth $45,906,000 after purchasing an additional 14,167 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in SL Green Realty during the 2nd quarter valued at about $29,000. Rothschild Investment LLC bought a new stake in SL Green Realty during the 2nd quarter worth approximately $55,000. Commonwealth Equity Services LLC increased its holdings in shares of SL Green Realty by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 29,770 shares of the real estate investment trust’s stock worth $1,686,000 after purchasing an additional 799 shares during the period. Finally, Essex Financial Services Inc. increased its position in shares of SL Green Realty by 32.2% in the second quarter. Essex Financial Services Inc. now owns 18,124 shares of the real estate investment trust’s stock worth $1,031,000 after purchasing an additional 4,416 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Stock Down 0.7 %

Shares of SL Green Realty stock opened at $67.53 on Tuesday. SL Green Realty Corp. has a 52-week low of $41.81 and a 52-week high of $82.81. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58. The company has a 50-day simple moving average of $75.95 and a two-hundred day simple moving average of $67.50. The stock has a market capitalization of $4.45 billion, a PE ratio of -27.01, a price-to-earnings-growth ratio of 4.26 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($1.42). The business had revenue of $229.69 million during the quarter, compared to analysts’ expectations of $136.66 million. SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. During the same quarter in the prior year, the firm earned $1.27 EPS. On average, analysts anticipate that SL Green Realty Corp. will post 7.82 EPS for the current fiscal year.

SL Green Realty Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.2575 dividend. This represents a $3.09 annualized dividend and a yield of 4.58%. The ex-dividend date is Tuesday, December 31st. This is a positive change from SL Green Realty’s previous monthly dividend of $0.25. SL Green Realty’s payout ratio is presently -123.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SLG shares. Morgan Stanley lifted 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 report on Wednesday, October 9th. Scotiabank raised their price objective on SL Green Realty from $80.00 to $81.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research note on Monday, October 21st. Barclays upped their price target on SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their price objective on shares of SL Green Realty from $70.00 to $72.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.67.

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.