SL Green Realty Corporation $SLG Shares Acquired by Hsbc Holdings PLC

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 grew its position in SL Green Realty Corporation (NYSE:SLG - Free Report) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $75,000. GF Fund Management CO. LTD. acquired a new stake in shares of SL Green Realty in the fourth quarter valued at approximately $80,000. KBC Group NV boosted its holdings 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 acquiring an additional 577 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of 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 acquiring an additional 466 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of SL Green Realty in the first quarter valued at approximately $287,000. 89.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SL Green Realty news, Director Carol N. Brown sold 2,500 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $60.61, for a total value of $151,525.00. Following the completion of the sale, the director owned 937 shares of the company's stock, valued at approximately $56,791.57. This trade represents a 72.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.04% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLG. Truist Financial increased their price objective on SL Green Realty from $54.00 to $58.00 and gave the company a "hold" rating in a report on Friday, July 18th. Barclays decreased their price target on SL Green Realty from $76.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on SL Green Realty from $69.00 to $58.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of SL Green Realty in a report on Friday, May 23rd. Finally, Evercore ISI decreased their price target on SL Green Realty from $74.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, August 18th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $67.29.

SL Green Realty Price Performance

SL Green Realty stock opened at $55.62 on Wednesday. SL Green Realty Corporation has a one year low of $45.15 and a one year high of $82.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.72 and a current ratio of 2.72. The business has a fifty day moving average of $59.10 and a two-hundred day moving average of $58.46. The company has a market cap of $3.97 billion, a P/E ratio of -102.99 and a beta of 1.69.

SL Green Realty (NYSE:SLG - Get Free Report) last released its earnings results 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 return on equity of 1.19% and a negative net margin of 2.21%.The company had revenue of $147.54 million during the quarter, compared to the consensus estimate of $171.24 million. During the same quarter last year, the company earned $2.05 earnings per share. SL Green Realty'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. As a group, analysts predict that SL Green Realty Corporation will post 5.43 earnings per share for the current fiscal year.

SL Green Realty Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 560.0%. SL Green Realty's dividend payout ratio (DPR) is -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.

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