Mutual of America Capital Management LLC Sells 903 Shares of SL Green Realty Corp. (NYSE:SLG)

Mutual of America Capital Management LLC reduced its holdings in shares of SL Green Realty Corp. (NYSE:SLG) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,749 shares of the real estate investment trust’s stock after selling 903 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SL Green Realty were worth $679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Venturi Wealth Management LLC increased its stake in shares of SL Green Realty by 272.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 372 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 272 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in SL Green Realty during the second quarter worth approximately $29,000. Friedenthal Financial bought a new stake in SL Green Realty in the third quarter valued at approximately $49,000. Blue Trust Inc. lifted its position in shares of SL Green Realty by 363.2% in the third quarter. Blue Trust Inc. now owns 806 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 632 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of SL Green Realty during the 2nd quarter worth approximately $55,000. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price objective (up from $72.00) on shares of SL Green Realty in a research report on Monday, October 21st. Wells Fargo & Company increased their price target on shares of SL Green Realty from $43.00 to $63.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. boosted their price objective on SL Green Realty from $44.00 to $51.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Scotiabank upped their target price on SL Green Realty from $68.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Evercore ISI lifted their price target 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SL Green Realty presently has a consensus rating of “Hold” and a consensus price target of $66.00.

SL Green Realty Price Performance

Shares of SL Green Realty stock opened at $78.17 on Wednesday. SL Green Realty Corp. has a 52 week low of $32.78 and a 52 week high of $82.81. The stock’s 50-day simple moving average is $74.24 and its 200-day simple moving average is $64.73. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of -31.27, a PEG 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 for the quarter, missing the consensus estimate of $1.21 by ($1.42). SL Green Realty had a negative net margin of 16.78% and a negative return on equity of 3.76%. The company had revenue of $229.69 million for the quarter, compared to analysts’ expectations of $136.66 million. During the same quarter in the previous year, the company posted $1.27 EPS. As a group, analysts expect that SL Green Realty Corp. will post 7.6 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.84%. SL Green Realty’s payout ratio is -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.