Principal Financial Group Inc. Has $20.13 Million Position in SL Green Realty Corporation (NYSE:SLG)

Principal Financial Group Inc. increased its holdings in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,870 shares of the real estate investment trust's stock after purchasing an additional 6,112 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of SL Green Realty worth $20,130,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SLG. Jones Financial Companies Lllp bought a new stake in SL Green Realty during the fourth quarter worth $39,000. Quadrant Capital Group LLC raised its position in shares of 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 purchasing an additional 208 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of SL Green Realty in the fourth quarter valued at about $75,000. GF Fund Management CO. LTD. bought a new position in shares of SL Green Realty in the fourth quarter valued at about $80,000. Finally, Summit Securities Group LLC bought a new position in shares of SL Green Realty in the fourth quarter valued at about $88,000. Institutional investors and hedge funds own 89.96% of the company's stock.

SL Green Realty Price Performance

SL Green Realty stock traded up $0.43 during trading hours on Friday, reaching $63.93. 841,408 shares of the stock were exchanged, compared to its average volume of 878,758. The company has a market cap of $4.56 billion, a P/E ratio of -152.20 and a beta of 1.65. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.99. SL Green Realty Corporation has a twelve month low of $45.15 and a twelve month high of $82.81. The stock has a 50 day moving average of $60.37 and a two-hundred day moving average of $60.39.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $144.52 million for the quarter, compared to the consensus estimate of $158.44 million. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. Equities analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.2575 per share. The ex-dividend date is Monday, June 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.61%. SL Green Realty's payout ratio is -735.71%.

Wall Street Analyst Weigh In

SLG has been the topic of several research analyst reports. Wall Street Zen lowered shares of SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Jefferies Financial Group initiated coverage on shares of SL Green Realty in a research report on Monday, March 17th. They issued a "hold" rating and a $58.00 price objective on the stock. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and dropped their price objective for the company from $74.00 to $73.00 in a research report on Monday, March 17th. Barclays dropped their price objective on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Finally, Truist Financial dropped their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of "Hold" and a consensus target price of $65.60.

About SL Green Realty

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.