Envestnet Asset Management Inc. Sells 14,481 Shares of SL Green Realty Corp. (NYSE:SLG)

Envestnet Asset Management Inc. decreased its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,056 shares of the real estate investment trust's stock after selling 14,481 shares during the period. Envestnet Asset Management Inc.'s holdings in SL Green Realty were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of SL Green Realty in the 4th quarter valued at $39,000. Versant Capital Management Inc increased its holdings in SL Green Realty by 17.7% in the 4th quarter. Versant Capital Management Inc now owns 1,044 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 157 shares in the last quarter. Summit Securities Group LLC bought a new position in SL Green Realty in the fourth quarter valued at about $88,000. Blue Trust Inc. boosted its stake in shares of SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after purchasing an additional 857 shares in the last quarter. Finally, Game Plan Financial Advisors LLC bought a new stake in shares of SL Green Realty during the fourth quarter worth about $149,000. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Stock Down 2.4 %

Shares of SL Green Realty stock opened at $52.97 on Wednesday. The company has a 50-day simple moving average of $56.47 and a two-hundred day simple moving average of $66.09. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The stock has a market capitalization of $3.78 billion, a PE ratio of 662.13, a price-to-earnings-growth ratio of 5.30 and a beta of 1.61.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.13. The business had revenue of $144.52 million for the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. On average, analysts anticipate 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. Shareholders of record on Wednesday, April 30th will be given a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, April 30th. SL Green Realty's dividend payout ratio (DPR) is -735.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLG. Morgan Stanley lifted their target price on shares of SL Green Realty from $52.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Mizuho upped their price objective on shares of SL Green Realty from $45.00 to $67.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Evercore ISI upgraded SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their target price for the company from $74.00 to $73.00 in a report on Monday, March 17th. Truist Financial dropped their target price on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their target price on shares of SL Green Realty from $76.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.13.

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.

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