Intech Investment Management LLC Raises Holdings in SL Green Realty Corporation $SLG

Key Points

• Intech Investment Management LLC increased its stake in SL Green Realty Corporation by 36.9% during the first quarter, owning approximately 48,390 shares worth about $2.79 million.
• A number of institutional investors have also significantly raised their holdings in SL Green Realty, with Game Plan Financial Advisors increasing their stake by an astonishing 1,127.3% during the same period.
• Analysts have mixed opinions on SL Green Realty, with ratings ranging from upgrade to "buy" from Citigroup and others downgrading it to "sell," resulting in a consensus rating of "Hold."

Intech Investment Management LLC grew its position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,390 shares of the real estate investment trust's stock after purchasing an additional 13,048 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of SL Green Realty worth $2,792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Game Plan Financial Advisors LLC grew its holdings in shares of SL Green Realty by 1,127.3% during the first quarter. Game Plan Financial Advisors LLC now owns 27,000 shares of the real estate investment trust's stock worth $1,558,000 after buying an additional 24,800 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of SL Green Realty by 10.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 524,251 shares of the real estate investment trust's stock worth $30,249,000 after buying an additional 50,450 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of SL Green Realty by 10.9% during the first quarter. Empowered Funds LLC now owns 7,374 shares of the real estate investment trust's stock worth $425,000 after buying an additional 722 shares during the last quarter. United Services Automobile Association purchased a new position in shares of SL Green Realty during the first quarter worth about $253,000. Finally, Caxton Associates LLP acquired a new stake in SL Green Realty in the first quarter valued at about $475,000. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLG. Scotiabank raised SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price objective on the stock in a report on Friday, July 25th. Truist Financial lifted their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Wall Street Zen downgraded shares of SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Citigroup upgraded SL Green Realty from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $65.00 to $70.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Five equities 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 company currently has a consensus rating of "Hold" and a consensus target price of $67.57.

Insider Buying and Selling

In other news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the transaction, the director directly owned 937 shares in the company, valued at $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.04% of the company's stock.

SL Green Realty Stock Performance

NYSE:SLG opened at $65.71 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.72 and a quick ratio of 2.72. The firm has a 50-day moving average of $58.39 and a two-hundred day moving average of $57.97. The stock has a market cap of $4.69 billion, a P/E 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.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.26. The business had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.2575 dividend. The ex-dividend date is Friday, August 29th. This represents a yield of 543.0%. SL Green Realty's dividend payout ratio is -572.22%.

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.

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