Beacon Pointe Advisors LLC Has $632,000 Stock Position in SL Green Realty Corp. (NYSE:SLG)

Beacon Pointe Advisors LLC lessened its holdings in SL Green Realty Corp. (NYSE:SLG - Free Report) by 46.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,311 shares of the real estate investment trust's stock after selling 8,073 shares during the period. Beacon Pointe Advisors LLC's holdings in SL Green Realty were worth $632,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SLG. Barclays PLC grew its stake in shares of SL Green Realty by 304.8% in the 3rd quarter. Barclays PLC now owns 110,866 shares of the real estate investment trust's stock worth $7,718,000 after acquiring an additional 83,478 shares in the last quarter. Tidal Investments LLC bought a new position in shares of SL Green Realty during the 3rd quarter worth approximately $791,000. Franklin Resources Inc. purchased a new position in shares of SL Green Realty in the 3rd quarter worth approximately $621,000. Versant Capital Management Inc grew its holdings in shares of SL Green Realty by 17.7% in the fourth quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 157 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of SL Green Realty by 5.1% during the fourth quarter. GAMMA Investing LLC now owns 4,192 shares of the real estate investment trust's stock valued at $285,000 after acquiring an additional 203 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SLG shares. Scotiabank reduced their price objective on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Evercore ISI upgraded shares of SL Green Realty from an "in-line" rating to an "outperform" rating and decreased their price objective for the stock from $74.00 to $73.00 in a report on Monday, March 17th. Barclays lowered their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Finally, Bank of America dropped their price objective on SL Green Realty from $80.00 to $73.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $67.07.

SL Green Realty Trading Up 3.4 %

Shares of SLG opened at $55.36 on Friday. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve month high of $82.81. The stock has a market cap of $3.95 billion, a PE ratio of 692.00, a P/E/G ratio of 5.30 and a beta of 1.61. The company has a quick ratio of 2.58, a current ratio of 2.89 and a debt-to-equity ratio of 0.90. The business's 50-day moving average price is $55.89 and its 200-day moving average price is $65.73.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The business had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. On average, equities analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's payout ratio is -735.71%.

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.

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