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

Bank of New York Mellon Corp decreased its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the 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 about 0.86% of SL Green Realty worth $35,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLG. Norges Bank bought a new position in shares of SL Green Realty in the fourth quarter worth approximately $48,050,000. Northern Trust Corp grew its holdings in shares of SL Green Realty by 79.9% in the fourth quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock worth $97,101,000 after purchasing an additional 634,788 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of SL Green Realty by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock worth $735,594,000 after purchasing an additional 564,822 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of SL Green Realty in the fourth quarter worth approximately $29,000,000. Finally, Alyeska Investment Group L.P. grew its holdings in shares of SL Green Realty by 30.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock worth $101,419,000 after purchasing an additional 347,608 shares during the last quarter. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Up 2.3%

SL Green Realty stock traded up $1.42 on Wednesday, hitting $63.76. 1,996,265 shares of the stock traded hands, compared to its average volume of 881,961. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.99. The firm has a market cap of $4.55 billion, a P/E ratio of -151.80 and a beta of 1.65. The business's fifty day simple moving average is $60.87 and its 200 day simple moving average is $60.35. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating the consensus estimate of $1.38 by $0.25. SL Green Realty had a negative return on equity of 0.98% and a negative net margin of 1.30%. SL Green Realty's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. As a group, sell-side analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Monday, June 30th. SL Green Realty's dividend payout ratio is presently -735.71%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SLG. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Truist Financial cut their price target 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. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Barclays cut their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Scotiabank set a $71.00 price target on shares of SL Green Realty and gave the company a "sector perform" rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $65.33.

About SL Green Realty

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.