Vident Advisory LLC Sells 8,394 Shares of SL Green Realty Corporation $SLG

Key Points

• Vident Advisory LLC has significantly decreased its stake in SL Green Realty Corporation by 53.9%, leaving it with 7,174 shares valued at $414,000.
• Institutional investors control 89.96% of SL Green's stock, illustrating strong institutional interest despite some individual sell-offs.
• SL Green Realty reported earnings of $1.63 EPS, exceeding expectations, while also revealing a negative net margin of 2.21% and a revenue of $147.54 million.

Vident Advisory LLC lessened its holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 53.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,174 shares of the real estate investment trust's stock after selling 8,394 shares during the period. Vident Advisory LLC's holdings in SL Green Realty were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLG. Fourth Dimension Wealth LLC purchased a new position in SL Green Realty in the fourth quarter valued at approximately $75,000. GF Fund Management CO. LTD. purchased a new position in SL Green Realty in the fourth quarter valued at approximately $80,000. State of Wyoming purchased a new position in SL Green Realty in the first quarter valued at approximately $172,000. KBC Group NV lifted its stake in SL Green Realty by 20.9% in the first quarter. KBC Group NV now owns 3,340 shares of the real estate investment trust's stock valued at $193,000 after purchasing an additional 577 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in SL Green Realty by 13.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,889 shares of the real estate investment trust's stock valued at $224,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Analyst Upgrades and Downgrades

SLG has been the topic of several research analyst reports. Truist Financial upped their price objective on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research note on Friday, July 18th. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of SL Green Realty in a research note on Friday, May 23rd. Evercore ISI dropped their price objective on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating on the stock in a research note on Monday, August 18th. Finally, Citigroup upgraded SL Green Realty from a "neutral" rating to a "buy" rating and upped their price objective for the company from $65.00 to $70.00 in a research note on Friday. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, SL Green Realty presently has a consensus rating of "Hold" and an average target price of $67.57.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 2,500 shares of the company's 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 owned 937 shares of the company's stock, valued at approximately $56,791.57. This represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.04% of the company's stock.

SL Green Realty Stock Performance

SLG stock traded up $2.38 during midday trading on Friday, reaching $65.71. 1,612,121 shares of the company's stock traded hands, compared to its average volume of 846,648. The firm has a market capitalization of $4.69 billion, a PE ratio of -121.68 and a beta of 1.74. SL Green Realty Corporation has a 52 week low of $45.15 and a 52 week high of $82.81. The company has a 50-day moving average price of $58.39 and a two-hundred day moving average price of $58.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72.

SL Green Realty (NYSE:SLG - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.26. The firm had revenue of $147.54 million for the quarter, compared to analysts' expectations of $171.24 million. SL Green Realty had a negative net margin of 2.21% and a negative return on equity of 1.19%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. SL Green Realty has set its FY 2025 guidance at 5.650-5.950 EPS. As a group, equities analysts anticipate that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The company also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued 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 presently -572.22%.

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.