Aberdeen Group plc Acquires 140,157 Shares of SL Green Realty Corporation $SLG

Key Points

• Aberdeen Group plc increased its stake in SL Green Realty Corporation by 633.1% in Q1, now holding approximately 0.23% of the company valued at $9.36 million.
• SL Green Realty recently reported $1.63 earnings per share, surpassing estimates of $1.37, despite revenue falling short at $147.54 million compared to expectations of $171.24 million.
• The company declared a dividend of $0.2575 per share, with a dividend yield of 560.0%, although its dividend payout ratio is currently negative.

Aberdeen Group plc grew its stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 633.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 162,294 shares of the real estate investment trust's stock after acquiring an additional 140,157 shares during the quarter. Aberdeen Group plc owned about 0.23% of SL Green Realty worth $9,364,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SLG. Vision Capital Corp acquired a new position in SL Green Realty in the first quarter valued at about $11,540,000. Resona Asset Management Co. Ltd. grew its stake in SL Green Realty by 7.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 30,492 shares of the real estate investment trust's stock worth $1,755,000 after buying an additional 2,217 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in SL Green Realty by 26.1% in the 1st quarter. Public Sector Pension Investment Board now owns 222,138 shares of the real estate investment trust's stock valued at $12,817,000 after buying an additional 45,989 shares during the period. Nuveen LLC acquired a new position in shares of SL Green Realty in the 1st quarter valued at approximately $87,878,000. Finally, Wolverine Asset Management LLC raised its position in shares of SL Green Realty by 156.1% in the 1st quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust's stock valued at $734,000 after buying an additional 7,750 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Insiders Place Their Bets

In other news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the transaction, the director owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays decreased 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 note on Wednesday, April 30th. Truist Financial lifted their target price on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Wells Fargo & Company reduced their price target on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $67.29.

SL Green Realty Trading Down 1.1%

Shares of SL Green Realty stock traded down $0.6250 during trading on Monday, hitting $56.1750. The company's stock had a trading volume of 643,272 shares, compared to its average volume of 856,655. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of -104.03 and a beta of 1.69. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The stock has a 50-day moving average price of $59.28 and a two-hundred day moving average price of $58.48. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The firm had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period in the previous year, the business earned $2.05 EPS. The business's quarterly revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Equities research analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.2575 dividend. The ex-dividend date is Friday, August 29th. This represents a yield of 560.0%. SL Green Realty's dividend payout ratio is presently -572.22%.

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.