SL Green Realty Corporation $SLG Stock Holdings Lowered by Candriam S.C.A.

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 position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 34.8% in the 1st quarter, according to its most recent disclosure 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 quarter. Candriam S.C.A. owned about 0.10% of SL Green Realty worth $3,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SLG. Fourth Dimension Wealth LLC acquired a new stake in SL Green Realty during the 4th quarter worth approximately $75,000. GF Fund Management CO. LTD. purchased a new stake in SL Green Realty during the fourth quarter worth approximately $80,000. KBC Group NV increased its position in shares of SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock worth $193,000 after acquiring an additional 577 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of SL Green Realty by 13.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock valued at $224,000 after acquiring an additional 466 shares during the period. Finally, Syon Capital LLC acquired a new position in shares of SL Green Realty during the 4th quarter valued at $243,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Carol N. Brown sold 2,500 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the transaction, the director directly owned 937 shares of the company's stock, valued at approximately $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of recent research reports. Truist Financial increased their target price on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday, July 18th. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective for the company in a research report on Friday, July 25th. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Evercore ISI decreased their target price on shares of SL Green Realty from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $67.29.

SL Green Realty Stock Down 1.2%

Shares of SLG stock traded down $0.69 during trading hours on Thursday, hitting $56.20. 105,260 shares of the company were exchanged, compared to its average volume of 916,218. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -104.06 and a beta of 1.69. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The business's 50-day simple moving average is $58.95 and its two-hundred day simple moving average is $58.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The firm had revenue of $147.54 million for the quarter, compared to analysts' expectations of $171.24 million. During the same quarter in the prior year, the firm posted $2.05 earnings per share. SL Green Realty's revenue for the quarter was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Sell-side analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 560.0%. SL Green Realty's dividend payout ratio (DPR) is currently -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.