SL Green Realty Corp. (NYSE:SLG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in SL Green Realty Corp. (NYSE:SLG - Free Report) by 37.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,957 shares of the real estate investment trust's stock after selling 68,477 shares during the quarter. Bank of America Corp DE owned about 0.18% of SL Green Realty worth $7,876,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new stake in SL Green Realty during the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC raised its holdings in SL Green Realty by 37.4% during the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock worth $52,000 after buying an additional 208 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of SL Green Realty in the fourth quarter valued at about $88,000. FIL Ltd raised its holdings in shares of SL Green Realty by 53.3% in the fourth quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after purchasing an additional 550 shares during the last quarter. Finally, Blue Trust Inc. grew its position in SL Green Realty by 106.3% during the fourth quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock valued at $116,000 after buying an additional 857 shares during the period. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SLG shares. Scotiabank cut their price objective on shares of SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 28th. Truist Financial cut their target price on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Jefferies Financial Group started coverage on shares of SL Green Realty in a report on Monday, March 17th. They issued a "hold" rating and a $58.00 target price on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Finally, Barclays lowered their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $66.33.

SL Green Realty Trading Down 1.5%

Shares of SLG stock traded down $0.87 on Friday, hitting $56.98. 58,467 shares of the stock traded hands, compared to its average volume of 837,375. The firm's 50-day moving average price is $54.66 and its two-hundred day moving average price is $63.08. SL Green Realty Corp. has a twelve month low of $45.15 and a twelve month high of $82.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.58 and a current ratio of 2.89. The stock has a market capitalization of $4.06 billion, a PE ratio of 712.71, a PEG ratio of 5.30 and a beta of 1.59.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The company had revenue of $144.52 million for the quarter, compared to analyst estimates of $158.44 million. As a group, analysts anticipate that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, May 30th. SL Green Realty's dividend payout ratio (DPR) is presently -735.71%.

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.