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

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position 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 in the last quarter. Nuveen Asset Management LLC grew its position 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 in the last quarter. Nuveen LLC purchased a new position in shares of SL Green Realty in the first quarter valued at $87,878,000. Finally, Alyeska Investment Group L.P. grew its position 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 in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

SLG stock traded down $0.02 during mid-day trading on Friday, hitting $56.86. 867,688 shares of the stock were exchanged, compared to its average volume of 797,410. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72. The business has a fifty day moving average price of $58.64 and a 200 day moving average price of $58.26. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -105.30 and a beta of 1.74.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. During the same quarter in the previous year, the company posted $2.05 EPS. SL Green Realty's revenue for the quarter was up 8.6% on a year-over-year basis. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, sell-side analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 543.0%. SL Green Realty's dividend payout ratio is presently -572.22%.

Wall Street Analyst Weigh In

SLG has been the subject of several recent analyst reports. Evercore ISI reduced their target price on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating for the company in a research report on Monday, August 18th. Wells Fargo & Company reduced their target price on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Scotiabank upgraded 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 report on Friday, July 25th. Truist Financial boosted their target price on SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. dropped their price target on 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. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, SL Green Realty presently has an average rating of "Hold" and a consensus target price of $67.29.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty 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 transaction, the director owned 937 shares in the company, valued at approximately $56,791.57. This represents a 72.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.04% of the company's stock.

SL Green Realty Company 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.