ProShare Advisors LLC Acquires 7,617 Shares of SL Green Realty Corp. (NYSE:SLG)

ProShare Advisors LLC grew its stake in SL Green Realty Corp. (NYSE:SLG - Free Report) by 55.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,247 shares of the real estate investment trust's stock after purchasing an additional 7,617 shares during the quarter. ProShare Advisors LLC's holdings in SL Green Realty were worth $1,443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nissay Asset Management Corp Japan ADV grew its position in SL Green Realty by 12.0% during the 4th 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 purchasing an additional 1,072 shares during the last quarter. Nuveen Asset Management LLC grew its position in SL Green Realty by 3.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock valued at $111,179,000 after purchasing an additional 46,988 shares during the last quarter. Morse Asset Management Inc grew its position in SL Green Realty by 2.2% during the 4th quarter. Morse Asset Management Inc now owns 21,750 shares of the real estate investment trust's stock valued at $1,477,000 after purchasing an additional 475 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in SL Green Realty by 78.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,881 shares of the real estate investment trust's stock valued at $4,339,000 after purchasing an additional 28,101 shares during the last quarter. Finally, Kettle Hill Capital Management LLC purchased a new stake in SL Green Realty during the 4th quarter valued at about $11,918,000. 89.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays cut 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. Scotiabank dropped their price target on shares of 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. Morgan Stanley raised their price target on shares of SL Green Realty from $52.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday. Finally, Wells Fargo & Company dropped their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $66.33.

SL Green Realty Stock Performance

SL Green Realty stock traded up $1.27 during midday trading on Tuesday, hitting $56.75. The stock had a trading volume of 63,106 shares, compared to its average volume of 837,966. SL Green Realty Corp. has a 52-week low of $45.15 and a 52-week high of $82.81. The company has a market capitalization of $4.05 billion, a PE ratio of 708.00, a P/E/G ratio of 5.30 and a beta of 1.59. The firm's fifty day moving average is $54.72 and its two-hundred day moving average is $63.32. 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 (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 during the quarter, compared to analysts' expectations of $158.44 million. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. On average, research analysts forecast that SL Green Realty Corp. will post 5.43 EPS for the current year.

SL Green Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.2575 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.82%. SL Green Realty's payout ratio is presently -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.