Natixis Advisors LLC Sells 228 Shares of SL Green Realty Corp. (NYSE:SLG)

Natixis Advisors LLC decreased its holdings in SL Green Realty Corp. (NYSE:SLG) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,536 shares of the real estate investment trust’s stock after selling 228 shares during the quarter. Natixis Advisors LLC’s holdings in SL Green Realty were worth $1,499,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of SL Green Realty by 9.7% in the second quarter. Dimensional Fund Advisors LP now owns 994,909 shares of the real estate investment trust’s stock valued at $56,350,000 after buying an additional 88,309 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of SL Green Realty by 1.8% during the 2nd 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. Federated Hermes Inc. grew its holdings in shares of SL Green Realty by 8.2% during the 2nd quarter. Federated Hermes Inc. now owns 433,896 shares of the real estate investment trust’s stock worth $24,576,000 after purchasing an additional 32,985 shares in the last quarter. Rhumbline Advisers increased its position in shares of SL Green Realty by 1.4% in the second quarter. Rhumbline Advisers now owns 234,858 shares of the real estate investment trust’s stock worth $13,302,000 after purchasing an additional 3,255 shares during the period. Finally, Gilman Hill Asset Management LLC raised its stake in SL Green Realty by 2.1% in the second quarter. Gilman Hill Asset Management LLC now owns 185,367 shares of the real estate investment trust’s stock valued at $10,499,000 after purchasing an additional 3,758 shares in the last quarter. Institutional investors own 89.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI raised their target price on shares of SL Green Realty from $67.00 to $79.00 and gave the company an “in-line” rating in a report on Monday, October 21st. Wells Fargo & Company lifted their price objective on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Citigroup upgraded SL Green Realty from a “sell” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $66.00 in a research note on Friday, September 13th. Compass Point set a $65.00 price target on SL Green Realty and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets restated an “outperform” rating and set a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Stock Performance

SL Green Realty stock opened at $78.99 on Tuesday. The business has a 50 day moving average of $74.06 and a 200-day moving average of $64.55. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.58 and a quick ratio of 2.58. SL Green Realty Corp. has a 1 year low of $32.78 and a 1 year high of $82.81. The company has a market capitalization of $5.21 billion, a P/E ratio of -31.60, a P/E/G ratio of 2.10 and a beta of 1.82.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 16.78% and a negative return on equity of 3.76%. During the same period in the previous year, the business posted $1.27 EPS. On average, equities research analysts predict that SL Green Realty Corp. will post 7.6 earnings per share for the current year.

SL Green Realty Dividend Announcement

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

About SL Green Realty

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.