Allianz Asset Management GmbH Trims Holdings in SL Green Realty Corporation (NYSE:SLG)

Allianz Asset Management GmbH reduced its stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 467,531 shares of the real estate investment trust's stock after selling 66,628 shares during the period. Allianz Asset Management GmbH owned 0.66% of SL Green Realty worth $26,977,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Walleye Capital LLC acquired a new stake in SL Green Realty during the 4th quarter worth about $857,000. Summit Place Financial Advisors LLC grew its holdings in SL Green Realty by 149.6% during the 1st quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock worth $1,030,000 after acquiring an additional 10,695 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in SL Green Realty by 6.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust's stock worth $389,000 after acquiring an additional 384 shares during the period. KBC Group NV grew its holdings in 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 worth $193,000 after acquiring an additional 577 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in SL Green Realty by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 348,870 shares of the real estate investment trust's stock worth $20,130,000 after acquiring an additional 6,112 shares during the period. 89.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the sale, the director directly owned 937 shares in the company, valued at $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.04% of the stock is owned by company insiders.

SL Green Realty Stock Down 1.6%

Shares of NYSE SLG traded down $0.93 during trading hours on Thursday, hitting $59.32. 985,769 shares of the stock were exchanged, compared to its average volume of 1,153,310. The company has a quick ratio of 2.85, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.23 billion, a PE ratio of -109.84 and a beta of 1.65. The firm has a fifty day moving average price of $61.23 and a 200-day moving average price of $60.05. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. On average, sell-side analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The company also recently announced a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $0.2575 per share. This represents a yield of 5.1%. The ex-dividend date is Thursday, July 31st. SL Green Realty's dividend payout ratio (DPR) is presently -572.22%.

Analyst Ratings Changes

SLG has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Piper Sandler decreased their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Truist Financial raised their target price on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday, July 18th. Finally, Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.60.

SL Green Realty Company 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.