Amundi Sells 5,724 Shares of SL Green Realty Corporation $SLG

Key Points

• Amundi has decreased its stock holdings in SL Green Realty Corporation by 3.6%, now owning 152,461 shares valued at approximately $8 million.
• Several hedge funds have recently increased or established their stakes in SL Green Realty, demonstrating notable interest from institutional investors.
• SL Green Realty has reported earnings of $1.63 per share for the last quarter, surpassing analysts' expectations, while expecting a fiscal year 2025 EPS guidance of 5.650-5.950.

Amundi cut its stake in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,461 shares of the real estate investment trust's stock after selling 5,724 shares during the quarter. Amundi owned approximately 0.21% of SL Green Realty worth $8,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLG. Fourth Dimension Wealth LLC purchased a new stake in SL Green Realty in the fourth quarter worth $75,000. GF Fund Management CO. LTD. purchased a new position in SL Green Realty during the fourth quarter valued at approximately $80,000. State of Wyoming purchased a new stake in shares of SL Green Realty in the first quarter valued at approximately $172,000. KBC Group NV increased its position in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after buying an additional 577 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of SL Green Realty by 13.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Insiders Place Their Bets

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the company's stock in a transaction on 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 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 legal filing with the SEC, which is accessible through this hyperlink. 5.04% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Scotiabank upgraded SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price on the stock in a research note on Friday, July 25th. Wells Fargo & Company reduced 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. Finally, Evercore ISI decreased their target price on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $67.57.

SL Green Realty Price Performance

Shares of SLG stock traded up $2.38 during mid-day trading on Friday, hitting $65.71. 1,612,121 shares of the stock traded hands, compared to its average volume of 846,648. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -121.68 and a beta of 1.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. The company's 50-day simple moving average is $58.39 and its 200-day simple moving average is $58.07. SL Green Realty Corporation has a twelve month low of $45.15 and a twelve month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last issued 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 business had revenue of $147.54 million during the quarter, compared to analysts' expectations of $171.24 million. During the same quarter last year, the firm posted $2.05 earnings per share. SL Green Realty's 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. As a group, equities research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.2575 dividend. This represents a dividend yield of 543.0%. The ex-dividend date of this dividend is Friday, August 29th. SL Green Realty's payout ratio is presently -572.22%.

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.