Candriam S.C.A. Decreases Stock Position in SL Green Realty Corporation $SLG

Key Points

• Candriam S.C.A. reduced its stake in SL Green Realty Corporation by 34.8%, selling 36,523 shares and leaving it with 68,391 shares valued at approximately $3.95 million.
• Multiple institutional investors modified their holdings in SL Green Realty, with 89.96% of the company's stock now owned by institutional investors.
• SL Green Realty recently announced a $0.2575 dividend for September 15th, representing an unusual 560.0% dividend yield, though its current payout ratio is -572.22%.

Candriam S.C.A. cut its holdings in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 34.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,391 shares of the real estate investment trust's stock after selling 36,523 shares during the period. Candriam S.C.A. owned approximately 0.10% of SL Green Realty worth $3,946,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of SL Green Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust's stock worth $641,238,000 after buying an additional 283,009 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of SL Green Realty by 3.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock worth $111,179,000 after purchasing an additional 46,988 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of SL Green Realty by 8.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust's stock worth $89,722,000 after acquiring an additional 126,969 shares during the last quarter. Nuveen LLC bought a new stake in shares of SL Green Realty during the 1st quarter worth approximately $87,878,000. Finally, Alyeska Investment Group L.P. raised its position in SL Green Realty by 30.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock valued at $101,419,000 after purchasing an additional 347,608 shares in the last quarter. Institutional investors own 89.96% of the company's stock.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of SL Green Realty stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director directly owned 937 shares of the company's stock, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.04% of the company's stock.

SL Green Realty Trading Down 1.0%

SL Green Realty stock traded down $0.54 during mid-day trading on Tuesday, hitting $55.62. The company's stock had a trading volume of 1,034,993 shares, compared to its average volume of 921,623. The firm has a market capitalization of $3.97 billion, a PE ratio of -102.99 and a beta of 1.69. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98. The stock's fifty day moving average is $59.28 and its two-hundred day moving average is $58.48.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.26. The company had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.2575 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 560.0%. SL Green Realty's payout ratio is presently -572.22%.

Analyst Ratings Changes

Several research firms have recently commented on SLG. Barclays reduced their price target 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. Evercore ISI dropped their price target on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Monday, August 18th. 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. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, JPMorgan Chase & Co. lowered their price target on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $67.29.

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.