MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $4.51 Million Stake in SL Green Realty Corporation $SLG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SL Green Realty Corporation by 22.3% during the first quarter, now owning 78,106 shares valued at approximately $4.5 million.
• SL Green Realty reported an earnings per share (EPS) of $1.63 for the last quarter, exceeding analysts' expectations of $1.37, despite having lower revenue than estimated.
• The company announced a dividend of $0.2575 per share, with a yield of 543.0%, to be paid on September 15th, highlighting its schedule for shareholder returns.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 22.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 78,106 shares of the real estate investment trust's stock after acquiring an additional 14,225 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.11% of SL Green Realty worth $4,507,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in shares of SL Green Realty by 49.2% during the 4th 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 during the last quarter. BNP Paribas Financial Markets bought a new position in shares of SL Green Realty in the fourth quarter valued at $1,832,000. Gotham Asset Management LLC increased its holdings in SL Green Realty by 8.8% during the fourth quarter. Gotham Asset Management LLC now owns 5,658 shares of the real estate investment trust's stock worth $384,000 after buying an additional 459 shares during the last quarter. Nuveen Asset Management LLC raised its position in SL Green Realty by 3.0% during 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 acquiring an additional 46,988 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in SL Green Realty by 12.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 10,010 shares of the real estate investment trust's stock valued at $663,000 after acquiring an additional 1,072 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Citigroup raised SL Green Realty from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $70.00 in a research report on Friday. Wall Street Zen cut SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. reduced 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. Finally, Wells Fargo & Company dropped 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. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, SL Green Realty currently has an average rating of "Hold" and a consensus target price of $67.57.

SL Green Realty Stock Performance

SLG stock traded up $2.38 during trading hours on Friday, hitting $65.71. 1,612,121 shares of the stock were exchanged, compared to its average volume of 846,648. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. 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 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 50-day simple moving average of $58.39 and a two-hundred day simple moving average of $57.97.

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 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the company posted $2.05 earnings per share. SL Green Realty's revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. On average, 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 firm also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.2575 dividend. This represents a dividend yield of 543.0%. The ex-dividend date is Friday, August 29th. SL Green Realty's payout ratio is presently -572.22%.

Insider Buying and Selling at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.04% of the company's stock.

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.