18,270 Shares in SL Green Realty Corporation $SLG Bought by Nwam LLC

Key Points

• Nwam LLC acquired 18,270 shares of SL Green Realty during the second quarter, valued at approximately $946,000. Institutional investors collectively own 89.96% of the REIT.
• SL Green reported quarterly revenue of $264 million, up 16.5% year over year, and an adjusted loss of $0.38 per share that beat analyst estimates. The company maintains a quarterly dividend of $0.6175 per share, representing a 4.5% annualized yield.
• Analyst sentiment is mixed, with seven Buy, 10 Hold and two Sell ratings; the consensus rating is Hold with an average price target of $56.83. Insider Harrison Sitomer recently sold 23,113 shares for approximately $1.33 million.

Nwam LLC bought a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,270 shares of the real estate investment trust's stock, valued at approximately $946,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of SL Green Realty by 379.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 26,794 shares of the real estate investment trust's stock valued at $1,387,000 after purchasing an additional 21,210 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SL Green Realty by 15,825.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 480,634 shares of the real estate investment trust's stock valued at $24,882,000 after buying an additional 477,616 shares in the last quarter. Van ECK Associates Corp boosted its position in SL Green Realty by 2.9% in the second quarter. Van ECK Associates Corp now owns 25,264 shares of the real estate investment trust's stock valued at $1,308,000 after buying an additional 713 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of SL Green Realty by 15.0% during the second quarter. Hsbc Holdings PLC now owns 189,097 shares of the real estate investment trust's stock worth $9,808,000 after buying an additional 24,699 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of SL Green Realty during the second quarter worth $211,000. Institutional investors own 89.96% of the company's stock.

Insiders Place Their Bets

In other news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $57.71, for a total value of $1,333,851.23. Following the completion of the transaction, the insider directly owned 109,468 shares of the company's stock, valued at approximately $6,317,398.28. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.94% of the company's stock.

SL Green Realty Stock Up 1.2%

SL Green Realty stock opened at $55.24 on Thursday. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -20.24, a PEG ratio of 2.36 and a beta of 1.60. SL Green Realty Corporation has a 52-week low of $34.77 and a 52-week high of $66.29. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.10 and a current ratio of 3.10. The firm has a 50 day moving average price of $53.90 and a two-hundred day moving average price of $46.20.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The company had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. During the same period in the prior year, the firm posted $1.63 EPS. The company's quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts predict that SL Green Realty Corporation will post 5.53 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.5%. SL Green Realty's dividend payout ratio is -90.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group set a $60.00 price objective on SL Green Realty in a research note on Monday, July 27th. Piper Sandler set a $79.00 target price on shares of SL Green Realty and gave the stock an "overweight" rating in a report on Friday, July 24th. Evercore cut shares of SL Green Realty from an "outperform" rating to an "in-line" rating and set a $56.00 price target for the company. in a research report on Monday, July 6th. Mizuho raised their price target on shares of SL Green Realty from $38.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Finally, Scotiabank lifted their price target on shares of SL Green Realty from $56.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $56.83.

SL Green Realty Profile

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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