SL Green Realty Corporation $SLG Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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 holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,106 shares of the real estate investment trust's stock after purchasing an additional 14,225 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.11% of SL Green Realty worth $4,507,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLG. AQR Capital Management LLC raised its stake in SL Green Realty by 74.8% during the 1st quarter. AQR Capital Management LLC now owns 26,883 shares of the real estate investment trust's stock worth $1,519,000 after acquiring an additional 11,506 shares during the period. State of Wyoming bought a new stake in SL Green Realty during the 1st quarter worth approximately $172,000. HGI Capital Management LLC bought a new stake in SL Green Realty during the 1st quarter worth approximately $3,601,000. Eisler Capital Management Ltd. bought a new stake in SL Green Realty during the 1st quarter worth approximately $3,692,000. Finally, CW Advisors LLC bought a new stake in SL Green Realty during the 1st quarter worth approximately $891,000. Institutional investors own 89.96% of the company's stock.

SL Green Realty Stock Down 4.6%

Shares of SLG stock traded down $3.02 during trading hours on Wednesday, reaching $62.65. 1,081,858 shares of the company's stock were exchanged, compared to its average volume of 927,394. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81. The stock has a market cap of $4.47 billion, a PE ratio of -116.17 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 stock's fifty day moving average price is $58.55 and its two-hundred day moving average price is $58.03.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The firm had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company'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. Research analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently announced a aug 25 dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid 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 dividend payout ratio is presently -572.22%.

Analysts Set New Price Targets

A number of research firms have commented on SLG. Scotiabank upgraded shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price on the stock in a research note on Friday, July 25th. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. JPMorgan Chase & Co. decreased their target price on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Finally, Evercore ISI increased their price objective on shares of SL Green Realty from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Monday. Five equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $67.79.

Insider Buying and Selling at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the sale, the director directly owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.04% of the stock is currently owned by insiders.

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.