SL Green Realty Corporation $SLG Position Raised by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has increased its stake in SL Green Realty Corporation by 8.3% in the first quarter, now owning 1,695,862 shares valued at $97.9 million.
• Other institutional investors have also actively traded SL Green Realty, with hedge funds now holding 89.96% of the stock, highlighting strong institutional interest in the company.
• SL Green Realty recently announced a $0.2575 per share dividend, payable on September 15th, reflecting a substantial yield of 543.0%.

Goldman Sachs Group Inc. increased its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,695,862 shares of the real estate investment trust's stock after purchasing an additional 130,206 shares during the period. Goldman Sachs Group Inc. owned 2.38% of SL Green Realty worth $97,851,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SLG. Ameriprise Financial Inc. grew its stake in SL Green Realty by 49.2% in the fourth quarter. Ameriprise Financial Inc. now owns 300,721 shares of the real estate investment trust's stock worth $20,437,000 after purchasing an additional 99,167 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in SL Green Realty in the fourth quarter worth about $1,832,000. Gotham Asset Management LLC grew its stake in SL Green Realty by 8.8% in the fourth quarter. Gotham Asset Management LLC now owns 5,658 shares of the real estate investment trust's stock worth $384,000 after purchasing an additional 459 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SL Green Realty by 78.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,881 shares of the real estate investment trust's stock worth $4,339,000 after purchasing an additional 28,101 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in SL Green Realty by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock worth $111,179,000 after purchasing an additional 46,988 shares in the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SLG shares. Scotiabank upgraded 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 note on Friday, July 25th. JPMorgan Chase & Co. decreased their target price on 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. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Evercore ISI lifted their target price on SL Green Realty from $73.00 to $76.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Citigroup upgraded SL Green Realty from a "neutral" rating to a "buy" rating and lifted their target price for the company from $65.00 to $70.00 in a research note on Friday, September 12th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $67.79.

SL Green Realty Stock Performance

Shares of SLG traded up $1.35 during mid-day trading on Thursday, reaching $63.07. 1,080,538 shares of the company's stock traded hands, compared to its average volume of 989,597. The business's 50-day moving average price is $58.53 and its 200-day moving average price is $58.06. The stock has a market capitalization of $4.50 billion, a P/E ratio of -116.79 and a beta of 1.74. 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 Corporation has a 12 month low of $45.15 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. The company had revenue of $147.54 million for 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 revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Equities analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The firm also recently declared a aug 25 dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $0.2575 per share. This represents a dividend yield of 543.0%. The ex-dividend date of this dividend was Friday, August 29th. SL Green Realty's payout ratio is -572.22%.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 937 shares of SL Green Realty stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $63.09, for a total transaction of $59,115.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 5.04% of the company's stock.

SL Green Realty 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.