SL Green Realty Corporation (NYSE:SLG) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its position in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 8.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,306 shares of the real estate investment trust's stock after selling 5,627 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.08% of SL Green Realty worth $3,480,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in SL Green Realty in the 4th quarter worth approximately $48,050,000. Northern Trust Corp grew its position in shares of SL Green Realty by 79.9% in the fourth quarter. Northern Trust Corp now owns 1,429,636 shares of the real estate investment trust's stock valued at $97,101,000 after purchasing an additional 634,788 shares during the period. Vanguard Group Inc. grew its position in shares of SL Green Realty by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 10,830,293 shares of the real estate investment trust's stock valued at $735,594,000 after purchasing an additional 564,822 shares during the period. Balyasny Asset Management L.P. acquired a new position in SL Green Realty in the fourth quarter valued at $29,000,000. Finally, Alyeska Investment Group L.P. lifted 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 worth $101,419,000 after buying an additional 347,608 shares during the period. Institutional investors and hedge funds own 89.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLG shares. Wall Street Zen downgraded shares of SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Barclays cut their price target on shares of SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI raised shares of SL Green Realty from an "in-line" rating to an "outperform" rating and lowered their price objective for the company from $74.00 to $73.00 in a research note on Monday, March 17th. Piper Sandler dropped 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. Finally, Wells Fargo & Company reduced their target price on 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 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $66.33.

SL Green Realty Price Performance

SLG stock opened at $63.32 on Tuesday. The firm has a market cap of $4.52 billion, a P/E ratio of -150.76 and a beta of 1.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.85 and a current ratio of 2.85. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81. The stock has a 50-day simple moving average of $57.93 and a 200-day simple moving average of $61.26.

SL Green Realty (NYSE:SLG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.13. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. The company had revenue of $144.52 million during the quarter, compared to the consensus estimate of $158.44 million. On average, equities analysts predict that SL Green Realty Corporation will post 5.43 earnings per share 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 issued a $0.2575 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.03 dividend on an annualized basis and a yield of 1.63%. SL Green Realty's dividend payout ratio is currently -735.71%.

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.

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