Bank of New York Mellon Corp Reduces Holdings in SL Green Realty Corporation (NYSE:SLG)

Bank of New York Mellon Corp trimmed its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 610,610 shares of the real estate investment trust's stock after selling 9,950 shares during the period. Bank of New York Mellon Corp owned approximately 0.86% of SL Green Realty worth $35,232,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SLG. Norinchukin Bank The boosted its holdings in shares of SL Green Realty by 6.6% in the fourth quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock valued at $212,000 after acquiring an additional 192 shares in the last quarter. Quadrant Capital Group LLC lifted its position in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 208 shares during the period. Natixis Advisors LLC boosted its holdings in SL Green Realty by 1.3% in the 4th quarter. Natixis Advisors LLC now owns 21,820 shares of the real estate investment trust's stock valued at $1,482,000 after purchasing an additional 284 shares in the last quarter. Two Sigma Advisers LP increased its position in SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock worth $1,652,000 after purchasing an additional 301 shares during the period. Finally, Mariner LLC raised its stake in shares of SL Green Realty by 2.1% during the 4th quarter. Mariner LLC now owns 18,241 shares of the real estate investment trust's stock worth $1,239,000 after buying an additional 379 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SLG shares. Barclays cut their price objective on 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. Scotiabank set a $71.00 price target on shares of SL Green Realty and gave the stock a "sector perform" rating in a research note on Monday. Truist Financial raised their price objective on shares of SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday. Wells Fargo & Company decreased their price objective on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $65.60.

SL Green Realty Price Performance

Shares of NYSE SLG traded down $0.69 during trading on Friday, reaching $60.61. The company had a trading volume of 589,878 shares, compared to its average volume of 888,233. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.99. SL Green Realty Corporation has a twelve month low of $45.15 and a twelve month high of $82.81. The stock has a 50-day moving average price of $60.99 and a two-hundred day moving average price of $60.32. The stock has a market capitalization of $4.32 billion, a PE ratio of -112.16 and a beta of 1.65.

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 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.26. The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate 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 for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 EPS. As a group, sell-side analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.2575 per share. The ex-dividend date was Monday, June 30th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 1.70%. SL Green Realty's payout ratio is -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.