SL Green Realty Corporation $SLG Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 123.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,687 shares of the real estate investment trust's stock after buying an additional 4,798 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in SL Green Realty were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Summit Place Financial Advisors LLC grew its stake in shares of SL Green Realty by 149.6% in the first quarter. Summit Place Financial Advisors LLC now owns 17,845 shares of the real estate investment trust's stock valued at $1,030,000 after buying an additional 10,695 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of SL Green Realty by 6.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,741 shares of the real estate investment trust's stock valued at $389,000 after buying an additional 384 shares in the last quarter. KBC Group NV grew its stake in shares of 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 buying an additional 577 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of SL Green Realty by 156.1% in the first quarter. Wolverine Asset Management LLC now owns 12,716 shares of the real estate investment trust's stock valued at $734,000 after buying an additional 7,750 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of SL Green Realty by 36.9% in the first quarter. Intech Investment Management LLC now owns 48,390 shares of the real estate investment trust's stock valued at $2,792,000 after buying an additional 13,048 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SL Green Realty

In other news, Director Carol N. Brown sold 937 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.04% of the company's stock.

SL Green Realty Stock Up 1.7%

Shares of NYSE SLG opened at $52.61 on Wednesday. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 5,266.27 and a beta of 1.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.22 and a quick ratio of 2.72. The business has a 50-day moving average of $58.28 and a two-hundred day moving average of $58.03. SL Green Realty Corporation has a 1 year low of $45.15 and a 1 year high of $82.81.

SL Green Realty (NYSE:SLG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.24. The company had revenue of $149.67 million during the quarter, compared to the consensus estimate of $170.27 million. SL Green Realty had a negative return on equity of 0.22% and a net margin of 1.75%.SL Green Realty's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. On average, analysts forecast 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 announced a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be issued a $0.2575 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, October 31st. SL Green Realty's payout ratio is presently 30,900.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SLG shares. LADENBURG THALM/SH SH started coverage on SL Green Realty in a report on Monday, October 13th. They issued a "neutral" rating and a $63.00 target price for the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of SL Green Realty in a report on Wednesday, October 8th. Scotiabank upgraded 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. Truist Financial set a $54.00 target price on SL Green Realty and gave the company a "hold" rating in a report on Tuesday. Finally, Bank of America decreased their target price on SL Green Realty from $64.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, October 17th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and an average target price of $65.00.

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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