Rhumbline Advisers Sells 7,651 Shares of SL Green Realty Corp. (NYSE:SLG)

Rhumbline Advisers decreased its holdings in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,685 shares of the real estate investment trust's stock after selling 7,651 shares during the quarter. Rhumbline Advisers owned 0.32% of SL Green Realty worth $12,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in SL Green Realty by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock valued at $735,594,000 after acquiring an additional 564,822 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of SL Green Realty by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 1,751,709 shares of the real estate investment trust's stock worth $119,001,000 after purchasing an additional 110,594 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 46,988 shares during the period. Alyeska Investment Group L.P. grew its position in SL Green Realty by 30.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,493,208 shares of the real estate investment trust's stock valued at $101,419,000 after purchasing an additional 347,608 shares in the last quarter. Finally, Northern Trust Corp increased its stake in SL Green Realty by 79.9% in the 4th quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock valued at $97,101,000 after buying an additional 634,788 shares during the period. 89.96% of the stock is owned by institutional investors and hedge funds.

SL Green Realty Stock Performance

NYSE:SLG traded up $0.42 during mid-day trading on Thursday, hitting $65.70. 698,140 shares of the company's stock traded hands, compared to its average volume of 848,873. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 821.25, a price-to-earnings-growth ratio of 5.30 and a beta of 1.66. The firm has a 50 day moving average of $55.56 and a two-hundred day moving average of $62.12. 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 12 month low of $45.15 and a 12 month high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative return on equity of 0.10% and a net margin of 2.48%. The company had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. On average, equities analysts forecast that SL Green Realty Corp. will post 5.43 earnings per share 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. Stockholders of record on Friday, May 30th will be issued a dividend of $0.2575 per share. The ex-dividend date is Friday, May 30th. This represents a $1.03 annualized dividend and a dividend yield of 1.57%. SL Green Realty's payout ratio is -735.71%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler cut their price objective on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays cut their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Scotiabank lowered their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating for the company in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Finally, Truist Financial cut 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 investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $66.33.

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.