Rhumbline Advisers Cuts Holdings in SL Green Realty Corp. (NYSE:SLG)

Rhumbline Advisers cut its position in shares of SL Green Realty Corp. (NYSE:SLG - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 224,685 shares of the real estate investment trust's stock after selling 7,651 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of SL Green Realty worth $12,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLG. Walleye Capital LLC purchased a new position in SL Green Realty in the fourth quarter valued at about $857,000. Wolverine Asset Management LLC purchased a new position in SL Green Realty in the fourth quarter valued at about $337,000. Charles Schwab Investment Management Inc. boosted its stake in SL Green Realty by 12.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,428,008 shares of the real estate investment trust's stock valued at $96,990,000 after acquiring an additional 159,870 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in SL Green Realty by 8.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 76,367 shares of the real estate investment trust's stock valued at $5,187,000 after acquiring an additional 6,158 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $1,832,000. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial lowered their price target 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. 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. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Jefferies Financial Group assumed 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 target on the stock. Finally, Wells Fargo & Company lowered 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 research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $66.33.

SL Green Realty Price Performance

SLG stock opened at $64.45 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.89 and a quick ratio of 2.58. SL Green Realty Corp. has a one year low of $45.15 and a one year high of $82.81. The stock has a market cap of $4.60 billion, a PE ratio of 805.63, a P/E/G ratio of 5.30 and a beta of 1.66. The firm has a 50 day simple moving average of $54.90 and a two-hundred day simple moving average of $62.18.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.13. SL Green Realty had a net margin of 2.48% and a negative return on equity of 0.10%. The business had revenue of $144.52 million during the quarter, compared to analysts' expectations of $158.44 million. On average, 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 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 1.60%. SL Green Realty's dividend 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.

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