Game Plan Financial Advisors LLC Increases Holdings in SL Green Realty Corporation $SLG

Key Points

• Game Plan Financial Advisors LLC significantly increased its stake in SL Green Realty Corporation by 1,127.3%, owning 27,000 shares worth $1,558,000.
• Several institutional investors, including UBS AM and Goldman Sachs, have also grown their positions in the company during the same quarter.
• SL Green Realty announced a dividend of $0.2575 per share, with an ex-dividend date of August 29th, representing a yield of 543.0%.

Game Plan Financial Advisors LLC increased its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 1,127.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,000 shares of the real estate investment trust's stock after acquiring an additional 24,800 shares during the period. Game Plan Financial Advisors LLC's holdings in SL Green Realty were worth $1,558,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SLG. Nuveen LLC purchased a new position in SL Green Realty in the 1st quarter worth approximately $87,878,000. Vanguard Group Inc. raised its holdings in SL Green Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust's stock worth $641,238,000 after acquiring an additional 283,009 shares during the last quarter. GAMMA Investing LLC raised its holdings in SL Green Realty by 5,759.5% in the 1st quarter. GAMMA Investing LLC now owns 245,629 shares of the real estate investment trust's stock worth $14,173,000 after acquiring an additional 241,437 shares during the last quarter. Vision Capital Corp purchased a new position in SL Green Realty in the 1st quarter worth approximately $11,540,000. Finally, Zimmer Partners LP purchased a new position in SL Green Realty in the 4th quarter worth approximately $11,192,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

SL Green Realty stock traded up $2.38 during mid-day trading on Friday, hitting $65.71. The stock had a trading volume of 1,612,121 shares, compared to its average volume of 846,648. The firm has a market capitalization of $4.69 billion, a P/E ratio of -121.68 and a beta of 1.74. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98. The firm's 50 day moving average is $58.39 and its 200 day moving average is $58.02. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.26. The company had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. SL Green Realty's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 EPS. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, sell-side 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 business also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.2575 per share. This represents a dividend yield of 543.0%. The ex-dividend date of this dividend is Friday, August 29th. SL Green Realty's dividend payout ratio is -572.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SLG shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Wells Fargo & Company decreased their target price on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Truist Financial boosted their target price on shares of SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. decreased 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. Finally, 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. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $67.57.

Insider Activity at SL Green Realty

In other SL Green Realty 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 completion of the transaction, the director owned 937 shares of the company's stock, valued at $56,791.57. This represents a 72.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.04% of the stock is owned by company insiders.

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.