Game Plan Financial Advisors LLC Grows Stock 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 grew its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 1,127.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,000 shares of the real estate investment trust's stock after purchasing an additional 24,800 shares during the period. Game Plan Financial Advisors LLC's holdings in SL Green Realty were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in SLG. Nuveen LLC purchased a new stake in shares of SL Green Realty in the first quarter valued at approximately $87,878,000. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 283,009 shares during the last quarter. GAMMA Investing LLC lifted its holdings in SL Green Realty by 5,759.5% in the first quarter. GAMMA Investing LLC now owns 245,629 shares of the real estate investment trust's stock valued at $14,173,000 after acquiring an additional 241,437 shares during the last quarter. Vision Capital Corp acquired a new position in SL Green Realty in the first quarter valued at approximately $11,540,000. Finally, Zimmer Partners LP acquired a new position in SL Green Realty in the fourth quarter valued at approximately $11,192,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.04% of the company's stock.

SL Green Realty Stock Up 3.8%

Shares of NYSE:SLG traded up $2.38 on Friday, hitting $65.71. 1,612,121 shares of the company's stock were exchanged, compared to its average volume of 927,501. The firm's 50-day moving average is $58.39 and its 200 day moving average is $58.07. The company has a market capitalization of $4.69 billion, a PE ratio of -121.68 and a beta of 1.74. SL Green Realty Corporation has a 1-year low of $45.15 and a 1-year high of $82.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

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

SL Green Realty Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 543.0%. SL Green Realty's dividend payout ratio (DPR) is presently -572.22%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SLG shares. Evercore ISI decreased their price objective on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Monday, August 18th. Citigroup upgraded SL Green Realty from a "neutral" rating to a "buy" rating and upped their price target for the stock from $65.00 to $70.00 in a research note on Friday. Wells Fargo & Company decreased their price target on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Finally, Scotiabank upgraded SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target on the stock in a research note on Friday, July 25th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, SL Green Realty has an average rating of "Hold" and an average price target of $67.57.

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.