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

Other institutional investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in shares of SL Green Realty during the 4th quarter valued at about $75,000. GF Fund Management CO. LTD. bought a new position in shares of SL Green Realty during the 4th quarter valued at about $80,000. Sterling Capital Management LLC boosted its holdings in shares of SL Green Realty by 909.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,261 shares of the real estate investment trust's stock valued at $154,000 after purchasing an additional 2,037 shares during the last quarter. KBC Group NV boosted its holdings in shares of SL Green Realty by 20.9% during the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after purchasing an additional 577 shares during the last quarter. Finally, Norinchukin Bank The boosted its holdings in shares of SL Green Realty by 6.6% during the 4th quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock valued at $212,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Trading Up 3.7%

Shares of NYSE:SLG traded up $2.0020 during trading on Friday, reaching $56.8020. The company's stock had a trading volume of 793,918 shares, compared to its average volume of 852,494. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The firm's 50 day simple moving average is $59.48 and its two-hundred day simple moving average is $58.61. The stock has a market capitalization of $4.05 billion, a PE ratio of -105.19 and a beta of 1.69.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same quarter last year, the firm earned $2.05 EPS. The firm's revenue for the quarter 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. On average, research analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the sale, the director directly owned 937 shares of the company's stock, valued at $56,791.57. This represents a 72.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Evercore ISI dropped their price objective on shares of SL Green Realty from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, August 18th. Wall Street Zen downgraded shares of SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. dropped their price objective on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $67.29.

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.