SL Green Realty Corporation (NYSE:SLG) Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 523,182 shares of the real estate investment trust's stock after purchasing an additional 24,273 shares during the period. Federated Hermes Inc. owned 0.73% of SL Green Realty worth $30,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake in shares of SL Green Realty by 4.7% during the first quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock valued at $307,000 after buying an additional 240 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SL Green Realty by 1.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,776 shares of the real estate investment trust's stock valued at $2,584,000 after buying an additional 623 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of SL Green Realty by 2.2% during the first quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock valued at $804,000 after buying an additional 300 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of SL Green Realty during the first quarter valued at approximately $947,000. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of SL Green Realty during the first quarter valued at approximately $1,377,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Down 2.6%

NYSE SLG traded down $1.49 during trading hours on Friday, reaching $55.76. 1,183,778 shares of the company traded hands, compared to its average volume of 1,070,957. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a current ratio of 2.72, a quick ratio of 2.85 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $3.98 billion, a PE ratio of -103.26 and a beta of 1.69. The company has a 50 day moving average of $61.37 and a two-hundred day moving average of $59.87.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the firm posted $2.05 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Dividend Announcement

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

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLG shares. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target for the company in a research report on Friday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Wells Fargo & Company dropped their price objective on shares of 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. Barclays dropped their price objective on shares of 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. Finally, Wall Street Zen lowered shares of SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $67.29.

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.