Fifth Third Bancorp Boosts Stake in SL Green Realty Corporation $SLG

Key Points

• Fifth Third Bancorp increased its SL Green Realty stake by 826.3% in the first quarter, ending with 23,527 shares valued at approximately $869,000. Institutional investors collectively own 89.96% of SL Green’s stock.
• Analysts maintain a generally cautious outlook, with seven Buy, ten Hold, and two Sell ratings. The consensus rating is Hold, with an average price target of $54.75.
• SL Green reported quarterly adjusted earnings of $0.38 per share, beating estimates, while revenue rose 16.5% year over year to $171.85 million. The company also declared a quarterly dividend of $0.6175 per share, representing an annualized yield of about 4.5%.

Fifth Third Bancorp grew its position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 826.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,527 shares of the real estate investment trust's stock after buying an additional 20,987 shares during the quarter. Fifth Third Bancorp's holdings in SL Green Realty were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Triumph Capital Management bought a new stake in SL Green Realty during the third quarter worth $45,000. Davis Capital Management bought a new position in SL Green Realty in the 1st quarter valued at $46,000. Fourth Dimension Wealth LLC increased its position in shares of SL Green Realty by 45.5% during the 4th quarter. Fourth Dimension Wealth LLC now owns 1,600 shares of the real estate investment trust's stock valued at $73,000 after purchasing an additional 500 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of SL Green Realty by 30.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,613 shares of the real estate investment trust's stock valued at $74,000 after purchasing an additional 378 shares during the last quarter. Finally, Leonteq Securities AG raised its stake in shares of SL Green Realty by 4,194.0% during the 1st quarter. Leonteq Securities AG now owns 2,147 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 2,097 shares during the period. Hedge funds and other institutional investors own 89.96% of the company's stock.

Wall Street Analysts Forecast Growth

SLG has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of SL Green Realty from $40.00 to $44.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. Wall Street Zen raised shares of SL Green Realty from a "strong sell" rating to a "sell" rating in a research report on Saturday. Truist Financial raised their price target on shares of SL Green Realty from $44.00 to $46.00 and gave the stock a "hold" rating in a research note on Wednesday, April 22nd. Morgan Stanley set a $52.00 price target on shares of SL Green Realty and gave the stock an "equal weight" rating in a report on Wednesday. Finally, LADENBURG THALM/SH SH upped their price objective on SL Green Realty from $42.00 to $46.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, SL Green Realty presently has an average rating of "Hold" and an average target price of $54.75.

SL Green Realty Price Performance

NYSE SLG opened at $54.62 on Monday. The company has a market cap of $3.90 billion, a PE ratio of -20.01 and a beta of 1.58. SL Green Realty Corporation has a 52 week low of $34.77 and a 52 week high of $66.29. The company has a quick ratio of 3.03, a current ratio of 3.10 and a debt-to-equity ratio of 1.12. The firm's 50-day simple moving average is $48.91 and its two-hundred day simple moving average is $44.12.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.21. SL Green Realty had a negative net margin of 16.92% and a negative return on equity of 4.43%. The firm had revenue of $171.85 million during the quarter, compared to the consensus estimate of $179.01 million. During the same quarter last year, the company earned $1.63 earnings per share. The company's revenue was up 16.5% on a year-over-year basis. SL Green Realty has set its FY 2026 guidance at 5.600-5.900 EPS. Research analysts predict that SL Green Realty Corporation will post 4.53 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.6175 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.47 dividend on an annualized basis and a yield of 4.5%. SL Green Realty's payout ratio is presently -90.48%.

About SL Green Realty

SL Green Realty Corp. NYSE: SLG is a publicly traded real estate investment trust (REIT) focused primarily on the acquisition, management and development of commercial office properties in Manhattan. As one of New York City's largest office landlords, the company's portfolio includes Class A office buildings and mixed-use projects located in prime Midtown and Downtown submarkets. SL Green generates revenue through leasing office space to a diverse mix of tenants spanning financial services, technology, media and professional services firms.

Founded in 1980 by real estate investor Stephen L.

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