SL Green Realty Corporation $SLG Holdings Raised by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its holdings in SL Green Realty Corporation by 2.1% during the 1st quarter, owning 1,458,980 shares valued at approximately $84.18 million.
• SL Green Realty reported a Q2 EPS of $1.63, exceeding analysts' expectations, though revenue fell short at $147.54 million compared to a consensus estimate of $171.24 million.
• The company announced a dividend of $0.2575 per share, with a significant yield of 560.0%, to be paid on September 15th.

Northern Trust Corp increased its holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,458,980 shares of the real estate investment trust's stock after acquiring an additional 29,344 shares during the period. Northern Trust Corp owned about 2.05% of SL Green Realty worth $84,183,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its stake in shares of SL Green Realty by 4.7% during the 1st quarter. Mackenzie Financial Corp now owns 5,324 shares of the real estate investment trust's stock worth $307,000 after purchasing an additional 240 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in shares of SL Green Realty by 2.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 13,874 shares of the real estate investment trust's stock valued at $804,000 after acquiring an additional 300 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of SL Green Realty by 1.3% during the 4th quarter. Two Sigma Advisers LP now owns 24,316 shares of the real estate investment trust's stock valued at $1,652,000 after acquiring an additional 301 shares during the last quarter. Xponance Inc. increased its holdings in shares of SL Green Realty by 6.6% during the 1st quarter. Xponance Inc. now owns 5,745 shares of the real estate investment trust's stock valued at $331,000 after acquiring an additional 357 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of SL Green Realty by 6.6% during the 1st quarter. M&T Bank Corp now owns 5,921 shares of the real estate investment trust's stock valued at $342,000 after acquiring an additional 366 shares during the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

SL Green Realty Price Performance

Shares of SLG stock opened at $56.8020 on Monday. The stock has a 50 day moving average of $59.48 and a two-hundred day moving average of $58.55. The company has a current ratio of 2.72, a quick 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 market capitalization of $4.05 billion, a P/E ratio of -105.19 and a beta of 1.69.

SL Green Realty (NYSE:SLG - Get Free Report) last posted 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. The business had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.SL Green Realty's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. As a group, equities analysts expect that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.2575 per share. This represents a dividend yield of 560.0%. The ex-dividend date is Friday, August 29th. SL Green Realty's dividend payout ratio (DPR) is -572.22%.

Insider Activity at SL Green Realty

In related news, Director Carol N. Brown sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $60.61, for a total transaction of $151,525.00. Following the completion of the transaction, the director owned 937 shares in the company, valued at $56,791.57. This trade represents a 72.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.04% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research 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 objective on the stock in a report on Friday, July 25th. Barclays lowered their target price 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. Evercore ISI lowered their target price on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a report on Monday, August 18th. Wall Street Zen lowered SL Green Realty from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and a consensus price target of $67.29.

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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