MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in SL Green Realty Corp. (NYSE:SLG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 78.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,881 shares of the real estate investment trust's stock after purchasing an additional 28,101 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.10% of SL Green Realty worth $4,339,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SLG. Jones Financial Companies Lllp bought a new position in SL Green Realty during the 4th quarter worth $39,000. Quadrant Capital Group LLC increased its holdings in SL Green Realty by 37.4% in the fourth quarter. Quadrant Capital Group LLC now owns 764 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 208 shares in the last quarter. Summit Securities Group LLC bought a new stake in SL Green Realty in the fourth quarter valued at about $88,000. FIL Ltd lifted its holdings in SL Green Realty by 53.3% during the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock worth $107,000 after buying an additional 550 shares during the period. Finally, Blue Trust Inc. increased its holdings in SL Green Realty by 106.3% in the 4th quarter. Blue Trust Inc. now owns 1,663 shares of the real estate investment trust's stock worth $116,000 after acquiring an additional 857 shares during the last quarter. 89.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLG. Piper Sandler reduced their price target on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Scotiabank reduced their target price on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company reduced their price target on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Truist Financial dropped their target price on SL Green Realty from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SL Green Realty has an average rating of "Hold" and an average price target of $66.33.

SL Green Realty Price Performance

Shares of SLG traded up $0.31 during mid-day trading on Friday, hitting $55.54. The company's stock had a trading volume of 705,881 shares, compared to its average volume of 841,025. The firm has a 50-day simple moving average of $54.78 and a 200 day simple moving average of $63.50. The firm has a market capitalization of $3.96 billion, a P/E ratio of 694.25, a P/E/G ratio of 5.30 and a beta of 1.59. The company has a current ratio of 2.89, a quick ratio of 2.58 and a debt-to-equity ratio of 0.90. SL Green Realty Corp. 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 released its earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. The company had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. Analysts predict that SL Green Realty Corp. will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.2575 per share. The ex-dividend date is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.85%. SL Green Realty's payout ratio is currently -735.71%.

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.