Bank of New York Mellon Corp acquired a new position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 816,627 shares of the real estate investment trust's stock, valued at approximately $42,277,000. Bank of New York Mellon Corp owned approximately 1.14% of SL Green Realty at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Levin Capital Strategies L.P. acquired a new position in shares of SL Green Realty in the 4th quarter worth approximately $3,588,000. Hosking Partners LLP increased its holdings in SL Green Realty by 18.5% during the 4th quarter. Hosking Partners LLP now owns 290,166 shares of the real estate investment trust's stock valued at $13,310,000 after purchasing an additional 45,337 shares in the last quarter. Royal Bank of Canada increased its holdings in SL Green Realty by 903.3% during the 1st quarter. Royal Bank of Canada now owns 142,614 shares of the real estate investment trust's stock valued at $5,268,000 after purchasing an additional 128,400 shares in the last quarter. Nan Fung Trinity HK Ltd. bought a new position in SL Green Realty in the 4th quarter valued at $6,230,000. Finally, Bank of America Corp DE raised its position in SL Green Realty by 226.6% in the 1st quarter. Bank of America Corp DE now owns 744,053 shares of the real estate investment trust's stock valued at $27,485,000 after purchasing an additional 516,242 shares during the last quarter. 89.96% of the stock is owned by institutional investors.
SL Green Realty Stock Performance
Shares of NYSE:SLG opened at $57.87 on Friday. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.05. SL Green Realty Corporation has a 1-year low of $34.77 and a 1-year high of $66.29. The stock has a market capitalization of $4.12 billion, a P/E ratio of -21.20, a P/E/G ratio of 2.58 and a beta of 1.58. The business has a 50-day moving average price of $53.43 and a two-hundred day moving average price of $45.79.
SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.37%. The company had revenue of $264.00 million for the quarter, compared to analyst estimates of $179.01 million. During the same quarter last year, the firm earned $1.63 EPS. The company's revenue for the quarter was up 16.5% on a year-over-year basis. Equities analysts predict that SL Green Realty Corporation will post 5.44 earnings per share for the current year.
SL Green Realty Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.6175 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.3%. SL Green Realty's dividend payout ratio (DPR) is presently -90.48%.
Analyst Ratings Changes
SLG has been the topic of a number of recent analyst reports. Truist Financial set a $57.00 price objective on SL Green Realty and gave the stock a "hold" rating in a research note on Monday. Barclays set a $52.00 price target on SL Green Realty and gave the company an "equal weight" rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH upped their price target on shares of SL Green Realty from $42.00 to $46.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Morgan Stanley set a $52.00 price objective on shares of SL Green Realty and gave the stock an "equal weight" rating in a report on Wednesday, July 22nd. Finally, Mizuho raised their price objective on shares of SL Green Realty from $38.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, SL Green Realty has an average rating of "Hold" and a consensus target price of $56.20.
Read Our Latest Report on SL Green Realty
Insider Buying and Selling
In other SL Green Realty news, insider Harrison Sitomer sold 23,113 shares of SL Green Realty stock in a transaction on Friday, August 21st. The shares were sold at an average price of $57.71, for a total transaction of $1,333,851.23. Following the completion of the sale, the insider owned 109,468 shares of the company's stock, valued at approximately $6,317,398.28. The trade was a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.94% of the company's stock.
SL Green Realty Company Profile
(
Free Report)
SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.
Founded in 1980 by real estate investor Stephen L.
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