JPMorgan Chase & Co. Decreases Stake in SL Green Realty Corp. (NYSE:SLG)

JPMorgan Chase & Co. decreased its holdings in SL Green Realty Corp. (NYSE:SLG) by 5.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,132,797 shares of the real estate investment trust’s stock after selling 63,254 shares during the period. JPMorgan Chase & Co. owned approximately 1.72% of SL Green Realty worth $78,854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its stake in shares of SL Green Realty by 6.6% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 2,313 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 144 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in SL Green Realty by 4.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,769 shares of the real estate investment trust’s stock valued at $262,000 after purchasing an additional 148 shares during the period. MML Investors Services LLC lifted its stake in shares of SL Green Realty by 2.7% during the third quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 161 shares in the last quarter. Xponance Inc. boosted its position in shares of SL Green Realty by 6.6% in the second quarter. Xponance Inc. now owns 4,234 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 262 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of SL Green Realty by 272.0% in the third quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 272 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $90.00 price target (up previously from $75.00) on shares of SL Green Realty in a report on Monday, October 21st. Barclays raised their price target on shares of SL Green Realty from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their price objective 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. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and raised their target price for the company from $44.00 to $66.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company boosted their price target on SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.47.

SL Green Realty Trading Up 0.7 %

SL Green Realty stock opened at $68.38 on Friday. SL Green Realty Corp. has a 1 year low of $41.81 and a 1 year high of $82.81. The firm’s 50-day moving average is $74.63 and its 200-day moving average is $68.13. 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 market cap of $4.51 billion, a P/E ratio of -27.35, a PEG ratio of 4.26 and a beta of 1.81.

SL Green Realty (NYSE:SLG) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($1.42). The company had revenue of $229.69 million during the quarter, compared to analyst estimates 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 previous year, the firm earned $1.27 earnings per share. On average, equities analysts expect that SL Green Realty Corp. will post 7.82 earnings per share for the current year.

SL Green Realty Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.2575 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 4.52%. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. SL Green Realty’s dividend payout ratio (DPR) is presently -123.60%.

SL Green Realty Company 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.