CW Advisors LLC Acquires New Position in SL Green Realty Corporation $SLG

Key Points

• CW Advisors LLC has acquired a new position in SL Green Realty Corporation, purchasing 15,444 shares valued at approximately $891,000.
• Several hedge funds have increased their holdings in SL Green Realty, indicating a significant institutional interest, with hedge funds collectively owning 89.96% of the company's stock.
• SL Green Realty declared a dividend of $0.2575 per share, with an impressive dividend yield of 560.0%, despite a negative payout ratio of -572.22%.

CW Advisors LLC acquired a new stake in SL Green Realty Corporation (NYSE:SLG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,444 shares of the real estate investment trust's stock, valued at approximately $891,000.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 valued at $641,238,000 after purchasing an additional 283,009 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of SL Green Realty by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock valued at $111,179,000 after purchasing an additional 46,988 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of SL Green Realty by 8.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust's stock valued at $89,722,000 after purchasing an additional 126,969 shares during the period. Nuveen LLC purchased a new stake in shares of SL Green Realty in the first quarter valued at about $87,878,000. 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 valued at $101,419,000 after purchasing an additional 347,608 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLG shares. Wall Street Zen lowered shares of SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price for the company in a research note on Friday, July 25th. JPMorgan Chase & Co. lowered their target price on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Evercore ISI lowered 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, Truist Financial increased their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $67.29.

Insider Activity

In other news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $60.61, for a total transaction of $151,525.00. Following the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.04% of the company's stock.

SL Green Realty Stock Down 1.1%

Shares of SLG opened at $56.1750 on Tuesday. The stock has a market capitalization of $4.01 billion, a PE ratio of -104.03 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 debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. The company's 50-day simple moving average is $59.28 and its 200-day simple moving average is $58.48.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.26. The business had revenue of $147.54 million for the quarter, compared to analysts' expectations 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 business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Analysts forecast that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Announces Dividend

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

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