SL Green Realty Corporation $SLG Holdings Lifted by Nixon Capital LLC

Key Points

• Nixon Capital LLC increased its stake in SL Green Realty Corporation by 4.4%, making it the firm's third largest holding with a value of approximately $21.1 million.
• SL Green Realty reported $1.63 EPS for the last quarter, surpassing analysts' expectations, while its revenue was $147.54 million, lower than forecasts.
• The company will pay a $0.2575 per share dividend on September 15, which represents a yield of 543.0% but reflects a negative payout ratio.

Nixon Capital LLC increased its holdings in shares of SL Green Realty Corporation (NYSE:SLG - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 366,068 shares of the real estate investment trust's stock after purchasing an additional 15,579 shares during the period. SL Green Realty accounts for 7.3% of Nixon Capital LLC's holdings, making the stock its 3rd biggest holding. Nixon Capital LLC owned about 0.51% of SL Green Realty worth $21,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in SL Green Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 11,113,302 shares of the real estate investment trust's stock valued at $641,238,000 after buying an additional 283,009 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of SL Green Realty by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,636,907 shares of the real estate investment trust's stock worth $111,179,000 after purchasing an additional 46,988 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SL Green Realty by 8.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,554,977 shares of the real estate investment trust's stock worth $89,722,000 after purchasing an additional 126,969 shares during the last quarter. Nuveen LLC purchased a new position in shares of SL Green Realty during the first quarter worth $87,878,000. Finally, Northern Trust Corp raised its holdings in shares of SL Green Realty by 2.1% during the first quarter. Northern Trust Corp now owns 1,458,980 shares of the real estate investment trust's stock worth $84,183,000 after purchasing an additional 29,344 shares during the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.

SL Green Realty Stock Up 3.7%

SLG traded up $2.19 during trading hours on Friday, hitting $62.07. 1,175,402 shares of the company's stock were exchanged, compared to its average volume of 811,723. SL Green Realty Corporation has a 12-month low of $45.15 and a 12-month high of $82.81. The firm has a 50 day moving average of $58.40 and a 200 day moving average of $58.05. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.98. The firm has a market cap of $4.43 billion, a P/E ratio of -114.94 and a beta of 1.74.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $1.63 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $147.54 million for the quarter, compared to the consensus estimate of $171.24 million. During the same period in the prior year, the firm posted $2.05 EPS. The company's quarterly revenue was up 8.6% compared to the same quarter last year. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. Analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Dividend Announcement

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.2575 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 543.0%. SL Green Realty's dividend payout ratio is currently -572.22%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Scotiabank raised shares of SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 target price for the company in a report on Friday, July 25th. JPMorgan Chase & Co. cut their price objective on shares of SL Green Realty from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Wells Fargo & Company cut their target price on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Evercore ISI lowered their price target on shares of SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a research report on Monday, August 18th. Finally, Truist Financial boosted their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the stock a "hold" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, SL Green Realty presently has a consensus rating of "Hold" and an average price target of $67.29.

Insider Activity at SL Green Realty

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

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.