Deutsche Bank AG Has $17.26 Million Stock Position in SL Green Realty Corporation (NYSE:SLG)

Key Points

• Deutsche Bank AG significantly reduced its stake in SL Green Realty Corporation by 86.9%, selling over 1.9 million shares, leaving it with a position valued at approximately $17.26 million.
• The company's recent quarterly earnings report showed earnings per share (EPS) of $1.63, exceeding analysts' estimates, but its revenue fell short of expectations, totaling $147.54 million.
• SL Green Realty announced a dividend of $0.2575 to be paid on August 15th, with an ex-dividend date of July 31st, resulting in a substantial yield of 510.0%.

Deutsche Bank AG reduced its position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 86.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 299,178 shares of the real estate investment trust's stock after selling 1,981,565 shares during the quarter. Deutsche Bank AG owned about 0.42% of SL Green Realty worth $17,263,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norinchukin Bank The raised its stake in SL Green Realty by 6.6% during the 4th quarter. Norinchukin Bank The now owns 3,117 shares of the real estate investment trust's stock worth $212,000 after buying an additional 192 shares during the period. Mackenzie Financial Corp increased its holdings in SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock worth $307,000 after purchasing an additional 240 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in SL Green Realty by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock worth $804,000 after purchasing an additional 300 shares in the last quarter. Two Sigma Advisers LP increased its holdings in SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock worth $1,652,000 after purchasing an additional 301 shares in the last quarter. Finally, Xponance Inc. increased its holdings in SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock worth $331,000 after purchasing an additional 357 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of the firm's 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 transaction, the director directly owned 937 shares of the company's stock, valued at $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.04% of the stock is owned by insiders.

SL Green Realty Price Performance

Shares of NYSE SLG opened at $55.60 on Thursday. The stock has a fifty day simple moving average of $60.84 and a two-hundred day simple moving average of $59.18. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -102.96 and a beta of 1.69. The company has a current ratio of 2.72, a quick ratio of 2.85 and a debt-to-equity ratio of 0.98.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping 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 firm had revenue of $147.54 million during the quarter, compared to analyst estimates of $171.24 million. During the same period last year, the company earned $2.05 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Analysts anticipate that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.2575 dividend. This represents a dividend yield of 510.0%. The ex-dividend date of this dividend is Thursday, July 31st. SL Green Realty's dividend payout ratio (DPR) is presently -572.22%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SLG shares. Wall Street Zen lowered SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. decreased their price objective on SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Scotiabank raised 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 report on Friday, July 25th. Wells Fargo & Company decreased their price objective on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Finally, Truist Financial upped their target price on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, SL Green Realty has a consensus rating of "Hold" and a consensus target price 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.

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