SL Green Realty Corp. (NYSE:SLG) Stock Holdings Decreased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its holdings in SL Green Realty Corp. (NYSE:SLG) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 99,239 shares of the real estate investment trust’s stock after selling 28,660 shares during the period. Daiwa Securities Group Inc. owned about 0.15% of SL Green Realty worth $6,908,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its stake in SL Green Realty by 18.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,923 shares of the real estate investment trust’s stock valued at $3,665,000 after purchasing an additional 10,704 shares during the period. Edgestream Partners L.P. raised its position in shares of SL Green Realty by 40.1% during the 2nd quarter. Edgestream Partners L.P. now owns 122,880 shares of the real estate investment trust’s stock worth $6,960,000 after buying an additional 35,178 shares in the last quarter. Swedbank AB bought a new stake in shares of SL Green Realty during the 1st quarter worth about $4,675,000. Waterfall Asset Management LLC bought a new stake in shares of SL Green Realty during the 2nd quarter worth about $3,172,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of SL Green Realty by 4.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,352 shares of the real estate investment trust’s stock worth $813,000 after buying an additional 606 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

Shares of SLG opened at $78.99 on Tuesday. The company’s 50 day moving average price is $74.06 and its 200 day moving average price is $64.55. SL Green Realty Corp. has a 52 week low of $32.78 and a 52 week high of $82.81. The company has a market capitalization of $5.21 billion, a PE ratio of -31.60, a PEG ratio of 2.10 and a beta of 1.82. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.58 and a current ratio of 2.58.

SL Green Realty (NYSE:SLG) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the consensus estimate of $1.21 by ($1.42). The business had revenue of $229.69 million during 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 prior year, the firm earned $1.27 earnings per share. Research analysts expect that SL Green Realty Corp. will post 7.6 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.25 dividend. 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 dividend payout ratio is -120.00%.

Wall Street Analysts Forecast Growth

SLG has been the topic of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up from $72.00) on shares of SL Green Realty in a report on Monday, October 21st. Bank of America boosted their target price 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. Compass Point set a $65.00 target price on shares of SL Green Realty and gave the stock a “neutral” rating in a report on Friday, October 18th. Scotiabank boosted their target price on shares of SL Green Realty from $68.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company boosted their target price on shares of SL Green Realty from $43.00 to $63.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Three equities research 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. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of “Hold” and an average target price of $66.00.

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.