Vanguard Personalized Indexing Management LLC Lowers Holdings in SL Green Realty Corp. (NYSE:SLG)

Vanguard Personalized Indexing Management LLC reduced its position in shares of SL Green Realty Corp. (NYSE:SLG) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,349 shares of the real estate investment trust’s stock after selling 334 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in SL Green Realty were worth $911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLG. Vanguard Group Inc. raised its holdings in shares of SL Green Realty by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,384,977 shares of the real estate investment trust’s stock valued at $572,524,000 after acquiring an additional 60,032 shares in the last quarter. Wellington Management Group LLP raised its position in SL Green Realty by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 1,114,957 shares of the real estate investment trust’s stock valued at $50,363,000 after purchasing an additional 78,322 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in SL Green Realty by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock worth $56,350,000 after buying an additional 88,309 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of SL Green Realty by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 810,490 shares of the real estate investment trust’s stock valued at $45,906,000 after purchasing an additional 14,167 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in SL Green Realty by 24.7% in the 1st quarter. Russell Investments Group Ltd. now owns 799,431 shares of the real estate investment trust’s stock worth $44,067,000 after purchasing an additional 158,268 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

SL Green Realty Trading Down 0.4 %

Shares of SL Green Realty stock opened at $71.70 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.59 and a current ratio of 2.59. SL Green Realty Corp. has a fifty-two week low of $28.55 and a fifty-two week high of $73.80. The company has a fifty day moving average of $64.93 and a 200 day moving average of $57.34. The company has a market capitalization of $4.72 billion, a P/E ratio of -8.68, a P/E/G ratio of 2.22 and a beta of 1.83.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. The business had revenue of $222.82 million during the quarter, compared to analysts’ expectations of $133.83 million. SL Green Realty had a negative return on equity of 3.92% and a negative net margin of 19.31%. The firm’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. On average, sell-side analysts anticipate that SL Green Realty Corp. will post 7.58 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.18%. SL Green Realty’s payout ratio is -36.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of SL Green Realty to a “sell” rating in a report on Friday, July 19th. Citigroup raised shares of SL Green Realty from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. JPMorgan Chase & Co. raised their price target on SL Green Realty from $44.00 to $51.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Bank of America boosted their price objective on shares of SL Green Realty from $59.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Truist Financial boosted their price objective on shares of SL Green Realty from $47.00 to $55.00 and gave the company a “hold” rating in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $59.64.

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.