Hsbc Holdings PLC Increases Stock Position in SL Green Realty Corporation $SLG

Key Points

• Hsbc Holdings PLC increased its stake in SL Green Realty Corporation by 10.1%, holding 72,107 shares worth approximately $4.16 million as of the latest reporting period.
• Several analysts have adjusted their price targets for SL Green Realty, with Truist Financial raising it to $58.00 while Barclays and Wells Fargo lowered theirs to $60.00 and $58.00, respectively.
• SL Green Realty recently announced a dividend of $0.2575, set to be paid on September 15th, with a significant yield of 560.0%, despite a negative dividend payout ratio.

Hsbc Holdings PLC boosted its holdings in SL Green Realty Corporation (NYSE:SLG - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,107 shares of the real estate investment trust's stock after acquiring an additional 6,622 shares during the quarter. Hsbc Holdings PLC owned about 0.10% of SL Green Realty worth $4,160,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in SL Green Realty during the fourth quarter worth $1,275,000. Dimensional Fund Advisors LP boosted its position in SL Green Realty by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,028,651 shares of the real estate investment trust's stock worth $69,863,000 after purchasing an additional 43,239 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in SL Green Realty during the fourth quarter worth $2,377,000. Voya Investment Management LLC boosted its position in SL Green Realty by 8.2% during the fourth quarter. Voya Investment Management LLC now owns 22,854 shares of the real estate investment trust's stock worth $1,552,000 after purchasing an additional 1,730 shares in the last quarter. Finally, Boothbay Fund Management LLC boosted its position in SL Green Realty by 51.1% during the fourth quarter. Boothbay Fund Management LLC now owns 5,618 shares of the real estate investment trust's stock worth $382,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company's stock.

Insider Buying and Selling at SL Green Realty

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the stock in a transaction 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 transaction, the director owned 937 shares of the company's stock, valued at $56,791.57. This represents a 72.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLG. Wells Fargo & Company lowered their price target on shares of SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Truist Financial increased their price target on shares of SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a research report on Friday, July 18th. Scotiabank raised SL Green Realty from a "sector perform" rating to a "sector outperform" rating and set a $71.00 price target for the company in a research report on Friday, July 25th. Wall Street Zen downgraded SL Green Realty from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of SL Green Realty in a research report on Friday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, SL Green Realty currently has a consensus rating of "Hold" and a consensus target price of $67.29.

SL Green Realty Trading Down 0.0%

Shares of SL Green Realty stock traded down $0.02 during trading hours on Monday, reaching $56.86. 867,688 shares of the company's stock were exchanged, compared to its average volume of 797,410. SL Green Realty Corporation has a 52-week low of $45.15 and a 52-week high of $82.81. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -105.30 and a beta of 1.74. The company has a fifty day moving average of $58.51 and a 200-day moving average of $58.21. 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 (NYSE:SLG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.26. SL Green Realty had a negative return on equity of 1.19% and a negative net margin of 2.21%.The company had revenue of $147.54 million for the quarter, compared to analyst estimates of $171.24 million. During the same quarter in the prior year, the company posted $2.05 EPS. The business's revenue for the quarter 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. Sell-side analysts forecast that SL Green Realty Corporation will post 5.43 EPS for the current fiscal year.

SL Green Realty Announces Dividend

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

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.