Janney Montgomery Scott LLC Trims Stock Position in SL Green Realty Corporation (NYSE:SLG)

Janney Montgomery Scott LLC cut its stake in SL Green Realty Corporation (NYSE:SLG - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,306 shares of the real estate investment trust's stock after selling 5,627 shares during the period. Janney Montgomery Scott LLC owned about 0.08% of SL Green Realty worth $3,480,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SLG. Norges Bank bought a new position in SL Green Realty in the 4th quarter worth about $48,050,000. Northern Trust Corp boosted its holdings 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 stake in 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 worth $735,594,000 after purchasing an additional 564,822 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in SL Green Realty during the 4th quarter worth $29,000,000. Finally, Alyeska Investment Group L.P. raised its position in SL Green Realty by 30.3% during the 4th 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. Hedge funds and other institutional investors own 89.96% of the company's stock.

SL Green Realty Price Performance

Shares of NYSE SLG traded up $1.26 during trading on Friday, hitting $61.88. The company had a trading volume of 1,248,270 shares, compared to its average volume of 894,255. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.99. SL Green Realty Corporation has a fifty-two week low of $45.15 and a fifty-two week high of $82.81. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -147.34 and a beta of 1.66. The stock has a fifty day simple moving average of $58.41 and a two-hundred day simple moving average of $61.13.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results 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. SL Green Realty had a negative net margin of 1.30% and a negative return on equity of 0.98%. The business had revenue of $144.52 million during the quarter, compared to analyst estimates of $158.44 million. On average, research analysts expect that SL Green Realty Corporation will post 5.43 earnings per share for the current year.

SL Green Realty Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.2575 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.03 annualized dividend and a dividend yield of 1.66%. SL Green Realty's dividend payout ratio is presently -735.71%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank cut their price target on SL Green Realty from $81.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Friday, February 28th. Wall Street Zen cut shares of SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Wells Fargo & Company reduced their price target on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Truist Financial lowered their price target on shares of SL Green Realty from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price objective 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. Two equities research 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. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $66.33.

SL Green Realty 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.