Everence Capital Management Inc. Has $449,000 Position in SL Green Realty Corp. (NYSE:SLG)

Everence Capital Management Inc. decreased its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 62.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,610 shares of the real estate investment trust’s stock after selling 10,870 shares during the quarter. Everence Capital Management Inc.’s holdings in SL Green Realty were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SLG. Rosenberg Matthew Hamilton grew its stake in SL Green Realty by 6.6% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in SL Green Realty by 4.1% during 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 in the last quarter. Versant Capital Management Inc increased its stake in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 157 shares during the period. MML Investors Services LLC lifted its position in SL Green Realty by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 6,138 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of SL Green Realty by 5.1% during the 4th quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 203 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of NYSE SLG opened at $68.08 on Monday. SL Green Realty Corp. has a one year low of $41.81 and a one year high of $82.81. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $74.46 and a 200 day simple moving average of $68.28. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -27.23, a PEG ratio of 4.26 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 analysts’ consensus estimates of $1.21 by ($1.42). The business had revenue of $229.69 million for the quarter, compared to the consensus estimate of $136.66 million. SL Green Realty had a negative return on equity of 3.76% and a negative net margin of 16.78%. During the same period in the previous year, the business posted $1.27 earnings per share. Sell-side analysts expect that SL Green Realty Corp. will post 7.82 EPS 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. Stockholders of record on Tuesday, December 31st will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from SL Green Realty’s previous monthly dividend of $0.25. This represents a $3.09 dividend on an annualized basis and a dividend yield of 4.54%. SL Green Realty’s dividend payout ratio is presently -123.60%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. BMO Capital Markets reiterated 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. Jefferies Financial Group reduced their price target on SL Green Realty from $75.00 to $69.00 and set a “hold” rating for the company in a report on Thursday. Evercore ISI increased their price objective on SL Green Realty from $67.00 to $79.00 and gave the stock an “in-line” rating in a report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and issued a $90.00 target price (up from $75.00) on shares of SL Green Realty in a research report on Monday, October 21st. Finally, Citigroup upgraded shares of SL Green Realty from a “sell” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.47.

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.