Charles Schwab Investment Management Inc. Buys 126,969 Shares of SL Green Realty Corporation (NYSE:SLG)

Charles Schwab Investment Management Inc. increased its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,554,977 shares of the real estate investment trust's stock after purchasing an additional 126,969 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.18% of SL Green Realty worth $89,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fourth Dimension Wealth LLC acquired a new position in SL Green Realty during the fourth quarter valued at approximately $75,000. GF Fund Management CO. LTD. bought a new position in shares of SL Green Realty during the 4th quarter valued at about $80,000. FIL Ltd lifted its stake in SL Green Realty by 53.3% in the 4th quarter. FIL Ltd now owns 1,582 shares of the real estate investment trust's stock valued at $107,000 after acquiring an additional 550 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of SL Green Realty by 909.4% during the 4th quarter. Sterling Capital Management LLC now owns 2,261 shares of the real estate investment trust's stock worth $154,000 after purchasing an additional 2,037 shares during the last quarter. Finally, KBC Group NV grew its holdings in SL Green Realty by 20.9% in the 1st quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after buying an additional 577 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Scotiabank raised SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target on the stock in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Barclays lowered their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. 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 research report on Monday, May 19th. Finally, Piper Sandler lowered their price objective on SL Green Realty from $90.00 to $72.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $67.29.

SL Green Realty Price Performance

NYSE:SLG traded down $0.30 during mid-day trading on Friday, reaching $54.17. 856,122 shares of the company were exchanged, compared to its average volume of 904,336. The stock has a market cap of $3.86 billion, a PE ratio of -100.31 and a beta of 1.69. The company has a quick ratio of 2.85, a current ratio of 2.72 and a debt-to-equity ratio of 0.98. SL Green Realty Corporation has a 12 month low of $45.15 and a 12 month high of $82.81. The company has a fifty day moving average of $60.48 and a 200 day moving average of $59.00.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, topping the consensus estimate of $1.37 by $0.26. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The firm had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period last year, the company posted $2.05 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

The firm also recently declared a jul 25 dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were given a $0.2575 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a yield of 510.0%. SL Green Realty's dividend payout ratio (DPR) is presently -572.22%.

Insider Transactions at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the sale, the director directly owned 937 shares in the company, valued at approximately $56,791.57. The trade was a 72.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.04% of the company's stock.

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.